Helmerich & Payne, Inc. (NYSE:HP) Announces $0.25 Quarterly Dividend

Helmerich & Payne, Inc. (NYSE:HP) declared a quarterly dividend on Wednesday, September 16th. Stockholders of record on Wednesday, November 18th will be paid a dividend of 0.25 per share by the oil and gas company on Wednesday, December 2nd. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, November 18th.

Helmerich & Payne has decreased its dividend payment by an average of 0.2%per year over the last three years. Helmerich & Payne has a dividend payout ratio of 69.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Helmerich & Payne to earn $1.60 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 62.5%.

Helmerich & Payne Trading Down 4.0%

Shares of HP stock opened at $41.72 on Thursday. Helmerich & Payne has a 1 year low of $20.32 and a 1 year high of $48.17. The firm has a fifty day moving average price of $39.49 and a 200-day moving average price of $37.51. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.96 and a quick ratio of 1.55. The company has a market cap of $4.17 billion, a price-to-earnings ratio of -29.59 and a beta of 0.66.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.20). Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $987.70 million. During the same quarter last year, the company earned $0.22 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities analysts predict that Helmerich & Payne will post -0.18 earnings per share for the current year.

Insiders Place Their Bets

In other Helmerich & Payne news, Director Hans Helmerich sold 94,470 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $43.90, for a total value of $4,147,233.00. Following the completion of the sale, the director owned 20,000 shares in the company, valued at approximately $878,000. This represents a 82.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Cara Hair sold 11,149 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $44.27, for a total value of $493,566.23. Following the sale, the senior vice president directly owned 136,095 shares in the company, valued at approximately $6,024,925.65. This represents a 7.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 110,673 shares of company stock worth $4,864,590. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Helmerich & Payne

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Helmerich & Payne during the 2nd quarter valued at approximately $513,336,000. Dimensional Fund Advisors LP lifted its holdings in shares of Helmerich & Payne by 11.0% in the first quarter. Dimensional Fund Advisors LP now owns 5,735,765 shares of the oil and gas company’s stock worth $206,660,000 after buying an additional 570,500 shares in the last quarter. Bank of America Corp DE grew its stake in Helmerich & Payne by 109.2% during the first quarter. Bank of America Corp DE now owns 1,676,169 shares of the oil and gas company’s stock valued at $60,392,000 after acquiring an additional 874,823 shares in the last quarter. Encompass Capital Advisors LLC grew its stake in Helmerich & Payne by 165.1% during the fourth quarter. Encompass Capital Advisors LLC now owns 2,081,644 shares of the oil and gas company’s stock valued at $59,702,000 after acquiring an additional 1,296,537 shares in the last quarter. Finally, Alyeska Investment Group L.P. grew its stake in Helmerich & Payne by 217.4% during the second quarter. Alyeska Investment Group L.P. now owns 1,526,707 shares of the oil and gas company’s stock valued at $49,984,000 after acquiring an additional 1,045,727 shares in the last quarter. Institutional investors own 96.05% of the company’s stock.

About Helmerich & Payne

Helmerich & Payne, Inc is a contract drilling company that provides land and offshore drilling services to oil and gas exploration and production companies. The company operates drilling rigs and supplies related services used to drill, develop and maintain wells.

H&P’s offerings include its FlexRig fleet of high-performance land rigs, directional drilling, automated drilling technologies and rig management services. These capabilities are designed to support horizontal and other complex well programs, particularly in unconventional oil and natural gas basins.

Founded in 1920 by Walter Helmerich and William Payne, the company is headquartered in Tulsa, Oklahoma.