Helmerich & Payne (NYSE:HP) Announces Earnings Results, Beats Expectations By $0.03 EPS

Helmerich & Payne (NYSE:HPGet Rating) issued its earnings results on Thursday. The oil and gas company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03, Yahoo Finance reports. The firm had revenue of $631.33 million for the quarter, compared to analyst estimates of $597.29 million. Helmerich & Payne had a return on equity of 0.45% and a net margin of 0.34%. Helmerich & Payne’s revenue for the quarter was up 83.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.62) earnings per share.

Helmerich & Payne Stock Up 0.6 %

NYSE HP opened at $52.06 on Friday. The business has a fifty day moving average price of $44.80 and a 200 day moving average price of $44.56. Helmerich & Payne has a one year low of $20.93 and a one year high of $54.59. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.14 and a current ratio of 2.36. The company has a market cap of $5.48 billion, a P/E ratio of 1,041.41 and a beta of 1.75.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Monday, November 14th. Helmerich & Payne’s dividend payout ratio is currently 2,000.40%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on HP shares. Morgan Stanley upgraded Helmerich & Payne from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $48.00 to $55.00 in a research report on Monday, September 26th. Barclays upped their price objective on Helmerich & Payne to $58.00 in a research report on Tuesday, August 9th. StockNews.com assumed coverage on Helmerich & Payne in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. TheStreet upgraded Helmerich & Payne from a “c” rating to a “b-” rating in a research report on Wednesday. Finally, Piper Sandler restated an “overweight” rating and issued a $59.00 price objective on shares of Helmerich & Payne in a research report on Friday, October 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $52.67.

Insider Activity at Helmerich & Payne

In related news, SVP John R. Bell sold 4,314 shares of the stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $50.00, for a total value of $215,700.00. Following the completion of the transaction, the senior vice president now directly owns 117,395 shares of the company’s stock, valued at approximately $5,869,750. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Helmerich & Payne news, SVP Raymond John Adams III sold 1,500 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $47.50, for a total value of $71,250.00. Following the completion of the sale, the senior vice president now directly owns 52,935 shares of the company’s stock, valued at approximately $2,514,412.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John R. Bell sold 4,314 shares of the firm’s stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $50.00, for a total value of $215,700.00. Following the completion of the sale, the senior vice president now directly owns 117,395 shares of the company’s stock, valued at $5,869,750. The disclosure for this sale can be found here. 4.35% of the stock is owned by corporate insiders.

Institutional Trading of Helmerich & Payne

Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its holdings in shares of Helmerich & Payne by 260.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,173,965 shares of the oil and gas company’s stock worth $50,222,000 after purchasing an additional 848,198 shares during the period. Invesco Ltd. raised its position in shares of Helmerich & Payne by 157.8% during the 1st quarter. Invesco Ltd. now owns 1,254,467 shares of the oil and gas company’s stock worth $53,667,000 after acquiring an additional 767,791 shares in the last quarter. Capital Research Global Investors raised its position in shares of Helmerich & Payne by 83.1% during the 1st quarter. Capital Research Global Investors now owns 1,278,249 shares of the oil and gas company’s stock worth $54,683,000 after acquiring an additional 579,949 shares in the last quarter. State Street Corp raised its position in shares of Helmerich & Payne by 6.7% during the 1st quarter. State Street Corp now owns 4,281,289 shares of the oil and gas company’s stock worth $183,154,000 after acquiring an additional 267,025 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Helmerich & Payne during the first quarter worth approximately $5,129,000. 94.61% of the stock is owned by institutional investors and hedge funds.

About Helmerich & Payne

(Get Rating)

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.

Further Reading

Earnings History for Helmerich & Payne (NYSE:HP)

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