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

Helmerich & Payne (NYSE:HP) issued its earnings results on Monday. The oil and gas company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates 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 Trading Down 0.8%

NYSE:HP traded down $0.21 on Monday, reaching $27.62. The company’s stock had a trading volume of 2,886,196 shares, compared to its average volume of 1,903,768. Helmerich & Payne has a 12-month low of $14.65 and a 12-month high of $37.30. The stock has a 50 day moving average price of $23.66 and a 200 day moving average price of $19.55. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of -83.69 and a beta of 0.94. The company has a quick ratio of 1.43, a current ratio of 1.84 and a debt-to-equity ratio of 0.76.

Helmerich & Payne Announces Dividend

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

Institutional Trading of Helmerich & Payne

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mariner LLC lifted its position in Helmerich & Payne by 7.1% in the third quarter. Mariner LLC now owns 22,759 shares of the oil and gas company’s stock valued at $503,000 after buying an additional 1,503 shares during the last quarter. Millennium Management LLC increased its position 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 stake in shares of Helmerich & Payne in the 3rd quarter valued at approximately $2,209,000. Boothbay Fund Management LLC purchased a new stake in shares of Helmerich & Payne in the 3rd quarter valued at approximately $243,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Helmerich & Payne by 316.9% in the 3rd 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. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HP has been the topic of a number of recent research reports. Citigroup boosted their price target on shares of 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 target price 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. Barclays set a $25.00 price target on Helmerich & Payne and gave the company an “overweight” rating in a research report on Monday, September 22nd. Weiss Ratings raised Helmerich & Payne from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. Finally, Piper Sandler boosted their price objective on Helmerich & Payne from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $24.20.

Helmerich & Payne Company Profile

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.