Helmerich & Payne, Inc. (HP) to Issue Quarterly Dividend of $0.25 on June 1st

Helmerich & Payne, Inc. (NYSE:HP) announced a quarterly dividend on Wednesday, March 4th. Stockholders of record on Monday, May 18th will be given a dividend of 0.25 per share by the oil and gas company on Monday, June 1st. This represents a c) annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, May 18th.

Helmerich & Payne has decreased its dividend by an average of 0.2%per year over the last three years. Helmerich & Payne has a dividend payout ratio of 69.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Helmerich & Payne to earn $3.13 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 31.9%.

Helmerich & Payne Stock Performance

Shares of Helmerich & Payne stock opened at $34.15 on Friday. The firm’s fifty day simple moving average is $32.93 and its 200-day simple moving average is $27.38. Helmerich & Payne has a 12 month low of $14.65 and a 12 month high of $36.73. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of -10.71 and a beta of 0.54. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.03 and a quick ratio of 1.58.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.27). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $990.16 million. Helmerich & Payne had a positive return on equity of 0.28% and a negative net margin of 7.71%.The firm’s revenue for the quarter was up 50.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 EPS. As a group, equities analysts forecast that Helmerich & Payne will post 2.93 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wall Street Zen lowered Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Sunday, November 23rd. Barclays lifted their target price on Helmerich & Payne from $36.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th. JPMorgan Chase & Co. raised Helmerich & Payne from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $24.00 to $34.00 in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Helmerich & Payne in a report on Monday, December 29th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $32.00 price objective on shares of Helmerich & Payne in a research note on Wednesday, January 14th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Helmerich & Payne currently has an average rating of “Hold” and a consensus target price of $36.20.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.