Helmerich & Payne, Inc. (NYSE:HP) announced a quarterly dividend on Thursday, September 7th, Zacks reports. Investors of record on Monday, November 13th will be given a dividend of 0.70 per share by the oil and gas company on Friday, December 1st. This represents a $2.80 annualized dividend and a dividend yield of 5.10%. The ex-dividend date of this dividend is Friday, November 10th.

Helmerich & Payne has increased its dividend by an average of 17.1% annually over the last three years and has increased its dividend annually for the last 44 consecutive years. Helmerich & Payne has a dividend payout ratio of -209.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Helmerich & Payne to earn ($0.63) per share next year, which means the company may not be able to cover its $2.80 annual dividend with an expected future payout ratio of -444.4%.

Shares of Helmerich & Payne (NYSE:HP) opened at $54.91 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.33 and a current ratio of 3.74. Helmerich & Payne has a 12-month low of $42.16 and a 12-month high of $85.78.

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In related news, CEO John W. Lindsay purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was acquired at an average price of $47.73 per share, for a total transaction of $238,650.00. Following the completion of the purchase, the chief executive officer now owns 147,727 shares in the company, valued at $7,051,009.71. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.90% of the stock is currently owned by insiders.

Several research firms recently issued reports on HP. Cowen and Company reissued a “hold” rating and issued a $50.00 target price on shares of Helmerich & Payne in a research report on Friday, August 11th. UBS AG reissued a “buy” rating and issued a $60.00 target price (down from $84.00) on shares of Helmerich & Payne in a research report on Monday, July 31st. SunTrust Banks, Inc. reaffirmed a “sell” rating and set a $37.00 price target (down from $66.00) on shares of Helmerich & Payne in a research report on Tuesday, October 3rd. Citigroup Inc. cut shares of Helmerich & Payne from a “neutral” rating to a “sell” rating and reduced their price target for the company from $58.00 to $43.00 in a research report on Friday, July 28th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $53.00 price target on shares of Helmerich & Payne in a research report on Wednesday, October 18th. Nine investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company. Helmerich & Payne presently has an average rating of “Hold” and an average price target of $54.27.

About Helmerich & Payne

Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.

Dividend History for Helmerich & Payne (NYSE:HP)

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