Helmerich & Payne, Inc. to Post Q3 2018 Earnings of ($0.02) Per Share, Jefferies Group Forecasts (HP)
Helmerich & Payne, Inc. (NYSE:HP) – Investment analysts at Jefferies Group raised their Q3 2018 earnings estimates for Helmerich & Payne in a research note issued to investors on Thursday. Jefferies Group analyst B. Handler now expects that the oil and gas company will post earnings per share of ($0.02) for the quarter, up from their prior estimate of ($0.04). Jefferies Group has a “Hold” rating and a $65.00 price target on the stock. Jefferies Group also issued estimates for Helmerich & Payne’s FY2018 earnings at ($0.15) EPS, FY2019 earnings at $1.45 EPS and FY2020 earnings at $3.80 EPS.
HP has been the subject of a number of other reports. Deutsche Bank assumed coverage on Helmerich & Payne in a research report on Tuesday, October 10th. They set a “hold” rating and a $45.00 target price for the company. Royal Bank of Canada set a $57.00 price target on Helmerich & Payne and gave the stock a “sector perform” rating in a research report on Friday, November 17th. Cowen set a $50.00 target price on Helmerich & Payne and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Zacks Investment Research downgraded Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Monday, December 4th. Finally, BMO Capital Markets restated a “sell” rating on shares of Helmerich & Payne in a research note on Friday, October 13th. Seven investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. Helmerich & Payne currently has a consensus rating of “Hold” and a consensus target price of $55.67.
Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, November 16th. The oil and gas company reported ($0.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.05. The firm had revenue of $532.30 million during the quarter, compared to analysts’ expectations of $493.78 million. Helmerich & Payne had a negative return on equity of 2.96% and a negative net margin of 7.16%. The company’s quarterly revenue was up 60.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.33) EPS.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Monday, February 12th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, February 9th. This represents a $2.80 annualized dividend and a dividend yield of 4.08%. Helmerich & Payne’s dividend payout ratio is currently -233.33%.
In other news, Director Chapman Paula Marshall sold 2,555 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $57.80, for a total value of $147,679.00. Following the sale, the director now directly owns 12,525 shares in the company, valued at $723,945. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.23% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sandy Spring Bank raised its stake in Helmerich & Payne by 36.7% in the third quarter. Sandy Spring Bank now owns 3,540 shares of the oil and gas company’s stock valued at $184,000 after buying an additional 950 shares in the last quarter. Sapphire Star Partners LP acquired a new stake in Helmerich & Payne in the third quarter valued at $202,000. Private Advisor Group LLC acquired a new stake in Helmerich & Payne in the third quarter valued at $206,000. Thrivent Financial For Lutherans raised its stake in Helmerich & Payne by 3.2% in the second quarter. Thrivent Financial For Lutherans now owns 4,140 shares of the oil and gas company’s stock valued at $225,000 after buying an additional 130 shares in the last quarter. Finally, Meridian Wealth Management LLC acquired a new stake in Helmerich & Payne in the third quarter valued at $217,000.
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.
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