Helmerich & Payne (NYSE:HP) Issues Earnings Results, Misses Estimates By $0.27 EPS

Helmerich & Payne (NYSE:HP) posted its quarterly earnings results on Monday. The oil and gas company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.27), Zacks reports. Helmerich & Payne had a negative net margin of 0.90% and a positive return on equity of 5.81%.

Helmerich & Payne Price Performance

NYSE HP traded down $0.21 on Monday, hitting $27.62. The company had a trading volume of 2,886,196 shares, compared to its average volume of 1,903,768. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.43. The company’s fifty day moving average price is $23.66 and its 200-day moving average price is $19.55. The company has a market capitalization of $2.75 billion, a PE ratio of -83.69 and a beta of 0.94. Helmerich & Payne has a 12-month low of $14.65 and a 12-month high of $37.30.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Tuesday, November 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $1.00 dividend on an annualized basis and a yield of 3.6%. Helmerich & Payne’s dividend payout ratio (DPR) is currently -303.03%.

Institutional Trading of Helmerich & Payne

Several institutional investors have recently modified their holdings of HP. Mariner LLC raised its position in shares of Helmerich & Payne by 7.1% during the 3rd quarter. Mariner LLC now owns 22,759 shares of the oil and gas company’s stock worth $503,000 after purchasing an additional 1,503 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Helmerich & Payne by 439.3% during the third quarter. Millennium Management LLC now owns 614,884 shares of the oil and gas company’s stock valued at $13,583,000 after acquiring an additional 500,863 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new position in shares of Helmerich & Payne in the third quarter valued at approximately $2,209,000. Boothbay Fund Management LLC purchased a new position in shares of Helmerich & Payne in the third quarter valued at approximately $243,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of Helmerich & Payne by 316.9% in the third quarter. Ameriprise Financial Inc. now owns 1,218,057 shares of the oil and gas company’s stock worth $26,907,000 after acquiring an additional 925,921 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings raised Helmerich & Payne from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. TD Cowen lifted their price target on Helmerich & Payne from $26.00 to $27.00 and gave the company a “hold” rating in a research report on Tuesday, August 19th. Citigroup upped their price objective on Helmerich & Payne from $17.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Royal Bank Of Canada raised their price objective on shares of Helmerich & Payne from $23.00 to $24.00 and gave the stock a “sector perform” rating in a research note on Friday, August 8th. Finally, Barclays set a $25.00 target price on shares of Helmerich & Payne and gave the company an “overweight” rating in a report on Monday, September 22nd. Two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.20.

About Helmerich & Payne

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.