Helmerich & Payne Inc. (NYSE:HP) released its earnings results on Thursday. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.43) by $0.10. Helmerich & Payne had a negative net margin of 0.28% and a negative return on equity of 1.38%. The business had revenue of $332 million for the quarter, compared to analysts’ expectations of $304.26 million. During the same period last year, the company earned $0.04 earnings per share. The company’s quarterly revenue was down 40.1% on a year-over-year basis.

Shares of Helmerich & Payne (NYSE:HP) opened at 67.18 on Friday. The company’s market capitalization is $7.26 billion. Helmerich & Payne has a 52 week low of $40.02 and a 52 week high of $70.39. The company’s 50 day moving average is $65.76 and its 200-day moving average is $63.36.

Earnings History for Helmerich & Payne (NYSE:HP)

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 11th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Tuesday, November 8th. Helmerich & Payne’s dividend payout ratio is currently -4,665.89%.

Several research firms recently commented on HP. Jefferies Group restated a “sell” rating on shares of Helmerich & Payne in a report on Tuesday, August 30th. Argus lowered shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a report on Thursday, September 15th. Citigroup Inc. cut their price target on shares of Helmerich & Payne from $66.00 to $63.00 and set a “neutral” rating on the stock in a report on Monday, September 12th. JPMorgan Chase & Co. restated a “sell” rating and issued a $39.00 price target on shares of Helmerich & Payne in a report on Friday, July 29th. Finally, Simmons restated a “neutral” rating and issued a $50.00 price target (down previously from $54.00) on shares of Helmerich & Payne in a report on Thursday, August 4th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $62.70.

In related news, insider John R. Bell sold 9,000 shares of the company’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $66.35, for a total value of $597,150.00. Following the completion of the transaction, the insider now directly owns 45,666 shares in the company, valued at $3,029,939.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John W. Lindsay sold 15,000 shares of the company’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $67.45, for a total value of $1,011,750.00. Following the completion of the transaction, the chief executive officer now owns 141,512 shares of the company’s stock, valued at $9,544,984.40. The disclosure for this sale can be found here. 4.23% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of HP. BlackRock Fund Advisors raised its position in shares of Helmerich & Payne by 6.5% in the second quarter. BlackRock Fund Advisors now owns 5,664,822 shares of the company’s stock worth $380,280,000 after buying an additional 345,202 shares during the last quarter. State Street Corp raised its position in shares of Helmerich & Payne by 1.9% in the second quarter. State Street Corp now owns 5,443,778 shares of the company’s stock worth $365,441,000 after buying an additional 99,961 shares during the last quarter. BlackRock Group LTD raised its position in shares of Helmerich & Payne by 3.1% in the second quarter. BlackRock Group LTD now owns 1,114,283 shares of the company’s stock worth $74,800,000 after buying an additional 33,047 shares during the last quarter. Waddell & Reed Financial Inc. raised its position in shares of Helmerich & Payne by 375.3% in the second quarter. Waddell & Reed Financial Inc. now owns 1,086,647 shares of the company’s stock worth $72,946,000 after buying an additional 858,007 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its position in shares of Helmerich & Payne by 17.2% in the second quarter. Lord Abbett & CO. LLC now owns 683,872 shares of the company’s stock worth $45,908,000 after buying an additional 100,281 shares during the last quarter.

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.

5 Day Chart for NYSE:HP

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