Helmerich & Payne, Inc. (NYSE:HP) Expected to Post Q2 2024 Earnings of $0.80 Per Share

Helmerich & Payne, Inc. (NYSE:HP) – Investment analysts at Zacks Research boosted their Q2 2024 earnings per share estimates for Helmerich & Payne in a research report issued to clients and investors on Thursday, April 4th. Zacks Research analyst N. Choudhury now forecasts that the oil and gas company will post earnings per share of $0.80 for the quarter, up from their prior forecast of $0.79. The consensus estimate for Helmerich & Payne’s current full-year earnings is $3.50 per share. Zacks Research also issued estimates for Helmerich & Payne’s Q3 2024 earnings at $0.85 EPS, Q2 2025 earnings at $0.68 EPS, Q3 2025 earnings at $0.76 EPS, Q2 2026 earnings at $0.58 EPS and FY2026 earnings at $2.65 EPS.

Several other analysts also recently weighed in on the company. Royal Bank of Canada boosted their target price on Helmerich & Payne from $46.00 to $48.00 and gave the company a “sector perform” rating in a report on Wednesday, January 31st. Piper Sandler increased their price objective on Helmerich & Payne from $41.00 to $44.00 and gave the company a “neutral” rating in a report on Tuesday, February 20th. Barclays cut shares of Helmerich & Payne from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $44.00 to $40.00 in a report on Wednesday, January 10th. The Goldman Sachs Group reduced their price target on shares of Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating for the company in a research report on Friday, January 12th. Finally, Susquehanna raised their price objective on shares of Helmerich & Payne from $50.00 to $52.00 and gave the stock a “positive” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.88.

Helmerich & Payne Stock Performance

NYSE HP opened at $43.09 on Monday. The company has a fifty day moving average of $39.89 and a two-hundred day moving average of $38.64. The company has a market capitalization of $4.26 billion, a PE ratio of 10.28, a P/E/G ratio of 9.42 and a beta of 1.51. Helmerich & Payne has a 1 year low of $30.41 and a 1 year high of $46.55. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.11 and a quick ratio of 1.89.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.24. Helmerich & Payne had a net margin of 15.27% and a return on equity of 15.06%. The business had revenue of $677.00 million during the quarter, compared to analysts’ expectations of $661.81 million. During the same quarter in the prior year, the business posted $1.11 EPS. The company’s revenue for the quarter was down 6.0% on a year-over-year basis.

Institutional Investors Weigh In On Helmerich & Payne

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Helmerich & Payne by 1.8% during the 1st quarter. BlackRock Inc. now owns 17,910,973 shares of the oil and gas company’s stock worth $640,317,000 after buying an additional 319,188 shares in the last quarter. Vanguard Group Inc. raised its position in Helmerich & Payne by 0.7% in the third quarter. Vanguard Group Inc. now owns 11,891,665 shares of the oil and gas company’s stock worth $439,634,000 after acquiring an additional 86,545 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Helmerich & Payne by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,181,316 shares of the oil and gas company’s stock valued at $187,668,000 after acquiring an additional 19,622 shares during the period. State Street Corp lifted its holdings in Helmerich & Payne by 7.7% in the first quarter. State Street Corp now owns 4,335,243 shares of the oil and gas company’s stock valued at $154,985,000 after acquiring an additional 310,770 shares during the period. Finally, Earnest Partners LLC boosted its position in shares of Helmerich & Payne by 4.0% during the 3rd quarter. Earnest Partners LLC now owns 2,929,498 shares of the oil and gas company’s stock worth $123,508,000 after purchasing an additional 113,735 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend is Thursday, May 16th. Helmerich & Payne’s dividend payout ratio (DPR) is presently 23.87%.

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.