Helmerich & Payne (NYSE:HP) Issues Quarterly Earnings Results, Misses Expectations By $0.20 EPS

Helmerich & Payne (NYSE:HP) issued its quarterly earnings results on Wednesday. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20), FiscalAI reports. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $987.70 million. Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.22 EPS.

Helmerich & Payne Stock Down 3.4%

Helmerich & Payne stock opened at $33.32 on Thursday. The stock’s fifty day moving average is $34.99 and its two-hundred day moving average is $35.57. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of -8.79 and a beta of 0.61. Helmerich & Payne has a fifty-two week low of $15.28 and a fifty-two week high of $41.82. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.32 and a current ratio of 1.71.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 18th. Helmerich & Payne’s dividend payout ratio (DPR) is presently -26.39%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Susquehanna decreased their target price on Helmerich & Payne from $43.00 to $40.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. Citigroup reduced their target price on shares of Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, June 29th. Royal Bank Of Canada boosted their price target on Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. The Goldman Sachs Group increased their price target on Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Finally, Piper Sandler boosted their price objective on shares of Helmerich & Payne from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $39.80.

Institutional Trading of Helmerich & Payne

Hedge funds have recently bought and sold shares of the company. Invesco Ltd. raised its holdings in Helmerich & Payne by 15.5% in the 4th quarter. Invesco Ltd. now owns 3,468,526 shares of the oil and gas company’s stock valued at $99,477,000 after acquiring an additional 465,440 shares during the last quarter. Empowered Funds LLC increased its stake in Helmerich & Payne by 20.9% in the fourth quarter. Empowered Funds LLC now owns 447,310 shares of the oil and gas company’s stock valued at $12,829,000 after purchasing an additional 77,399 shares during the last quarter. XTX Topco Ltd purchased a new position in Helmerich & Payne during the fourth quarter worth about $791,000. nVerses Capital LLC acquired a new stake in Helmerich & Payne in the 4th quarter worth about $237,000. Finally, VARCOV Co. acquired a new stake in Helmerich & Payne in the 4th quarter worth about $1,739,000. Institutional investors and hedge funds own 96.05% of the company’s stock.

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.