Helmerich & Payne, Inc. (HP) to Issue Quarterly Dividend of $0.25 on February 27th

Helmerich & Payne, Inc. (NYSE:HP) announced a quarterly dividend on Tuesday, December 9th. Investors of record on Friday, February 13th will be given a dividend of 0.25 per share by the oil and gas company on Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, February 13th.

Helmerich & Payne has decreased its dividend payment by an average of 0.2%annually over the last three years. Helmerich & Payne has a dividend payout ratio of 69.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Helmerich & Payne to earn $3.13 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 31.9%.

Helmerich & Payne Trading Down 4.0%

HP opened at $34.29 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.58 and a current ratio of 2.03. The stock’s 50 day moving average price is $31.08 and its 200-day moving average price is $25.42. Helmerich & Payne has a one year low of $14.65 and a one year high of $36.73. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of -10.75 and a beta of 0.57.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.27). The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $990.16 million. Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. Helmerich & Payne’s revenue was up 50.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 EPS. On average, equities analysts forecast that Helmerich & Payne will post 2.93 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on HP. JPMorgan Chase & Co. raised shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $24.00 to $34.00 in a research note on Wednesday, December 10th. Morgan Stanley reaffirmed an “underweight” rating and set a $28.00 target price on shares of Helmerich & Payne in a research report on Wednesday, January 21st. Piper Sandler raised their price objective on Helmerich & Payne from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday. Citigroup raised their price target on Helmerich & Payne from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Finally, Evercore boosted their price target on shares of Helmerich & Payne from $20.00 to $27.00 and gave the company an “in-line” rating in a report on Wednesday, November 19th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $34.91.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.