Helmerich & Payne, Inc. (NYSE:HP) – Stock analysts at Piper Sandler dropped their Q1 2022 earnings estimates for Helmerich & Payne in a research note issued on Monday, December 20th. Piper Sandler analyst I. Macpherson now expects that the oil and gas company will post earnings per share of ($0.53) for the quarter, down from their prior forecast of ($0.52). Piper Sandler also issued estimates for Helmerich & Payne’s Q3 2022 earnings at ($0.21) EPS, Q4 2022 earnings at ($0.10) EPS, FY2022 earnings at ($1.18) EPS and FY2023 earnings at ($0.06) EPS. Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Wednesday, November 17th. The oil and gas company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). The firm had revenue of $343.81 million during the quarter, compared to the consensus estimate of $350.08 million. Helmerich & Payne had a negative net margin of 26.76% and a negative return on equity of 9.12%. Helmerich & Payne’s revenue was up 65.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.74) earnings per share.
Other research analysts also recently issued reports about the stock. Citigroup reduced their price objective on shares of Helmerich & Payne from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, November 19th. Barclays reissued a “neutral” rating on shares of Helmerich & Payne in a research report on Wednesday, December 8th. Morgan Stanley downgraded shares of Helmerich & Payne from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $30.00 to $27.00 in a research report on Monday, December 6th. Finally, Royal Bank of Canada reduced their price objective on shares of Helmerich & Payne from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, November 19th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $30.14.
Shares of NYSE HP opened at $24.87 on Thursday. The company has a quick ratio of 1.73, a current ratio of 1.83 and a debt-to-equity ratio of 0.19. Helmerich & Payne has a 52 week low of $20.93 and a 52 week high of $36.26. The firm’s fifty day moving average is $28.48 and its 200 day moving average is $28.98.
The company also recently announced a quarterly dividend, which will be paid on Monday, February 28th. Investors of record on Friday, February 11th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Thursday, February 10th. Helmerich & Payne’s dividend payout ratio is -32.79%.
In other Helmerich & Payne news, insider Todd Willard Benson sold 5,000 shares of the stock in a transaction that occurred on Friday, October 15th. The shares were sold at an average price of $32.86, for a total transaction of $164,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Raymond John Adams III sold 7,116 shares of the stock in a transaction that occurred on Monday, December 13th. The shares were sold at an average price of $24.39, for a total value of $173,559.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,116 shares of company stock valued at $652,859. Insiders own 4.75% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Helmerich & Payne by 19.8% in the second quarter. BlackRock Inc. now owns 17,728,705 shares of the oil and gas company’s stock worth $578,488,000 after buying an additional 2,935,130 shares during the last quarter. Vanguard Group Inc. increased its stake in Helmerich & Payne by 0.3% in the second quarter. Vanguard Group Inc. now owns 11,734,629 shares of the oil and gas company’s stock worth $382,901,000 after purchasing an additional 33,944 shares during the period. Boston Partners increased its stake in Helmerich & Payne by 2.3% in the third quarter. Boston Partners now owns 6,854,871 shares of the oil and gas company’s stock worth $188,345,000 after purchasing an additional 155,474 shares during the period. Dimensional Fund Advisors LP increased its stake in Helmerich & Payne by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,537,794 shares of the oil and gas company’s stock worth $148,067,000 after purchasing an additional 341,752 shares during the period. Finally, Van ECK Associates Corp increased its stake in Helmerich & Payne by 119.5% in the second quarter. Van ECK Associates Corp now owns 4,198,764 shares of the oil and gas company’s stock worth $137,006,000 after purchasing an additional 2,286,230 shares during the period. Institutional investors own 89.96% of the company’s stock.
Helmerich & Payne Company Profile
Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.
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