Helmerich & Payne, Inc. (NYSE:HP) – Equities research analysts at Jefferies Group raised their Q4 2017 earnings estimates for shares of Helmerich & Payne in a research note issued on Monday. Jefferies Group analyst B. Handler now forecasts that the oil and gas company will post earnings of ($0.16) per share for the quarter, up from their previous estimate of ($0.17). Jefferies Group has a “Hold” rating and a $50.00 price objective on the stock. Jefferies Group also issued estimates for Helmerich & Payne’s FY2018 earnings at ($0.40) EPS and FY2019 earnings at $0.90 EPS.
Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.05. The firm had revenue of $498.60 million during the quarter, compared to the consensus estimate of $452.42 million. Helmerich & Payne had a negative return on equity of 3.37% and a negative net margin of 11.19%. The business’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.20) EPS. ILLEGAL ACTIVITY NOTICE: This news story was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this news story on another domain, it was copied illegally and republished in violation of international copyright and trademark legislation. The legal version of this news story can be read at https://www.dispatchtribunal.com/2017/10/28/research-analysts-offer-predictions-for-helmerich-payne-inc-s-q4-2017-earnings-hp.html.
HP has been the subject of several other reports. BMO Capital Markets reissued a “sell” rating and issued a $54.00 price target on shares of Helmerich & Payne in a research note on Thursday, June 22nd. Deutsche Bank AG started coverage on shares of Helmerich & Payne in a research note on Tuesday, October 10th. They issued a “hold” rating and a $45.00 price target for the company. UBS AG reissued a “buy” rating and issued a $60.00 price target (down from $84.00) on shares of Helmerich & Payne in a research note on Monday, July 31st. Sanford C. Bernstein reissued an “outperform” rating and issued a $66.00 price target on shares of Helmerich & Payne in a research note on Wednesday, September 6th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $65.00 price target on shares of Helmerich & Payne in a research note on Thursday, July 20th. Nine investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $54.27.
Shares of Helmerich & Payne (NYSE:HP) traded up 0.04% during midday trading on Wednesday, reaching $51.22. The company had a trading volume of 454,311 shares. The firm’s market cap is $5.56 billion. Helmerich & Payne has a 52-week low of $42.16 and a 52-week high of $85.78. The company’s 50-day moving average is $49.75 and its 200-day moving average is $53.83.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, November 13th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 5.47%. The ex-dividend date of this dividend is Friday, November 10th. Helmerich & Payne’s dividend payout ratio is currently -167.66%.
In related news, CEO John W. Lindsay purchased 5,000 shares of Helmerich & Payne stock in a transaction that occurred on Tuesday, September 12th. The shares were bought at an average price of $47.73 per share, for a total transaction of $238,650.00. Following the completion of the transaction, the chief executive officer now directly owns 147,727 shares of the company’s stock, valued at $7,051,009.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.90% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Swiss National Bank grew its holdings in Helmerich & Payne by 3.1% in the second quarter. Swiss National Bank now owns 395,052 shares of the oil and gas company’s stock worth $21,467,000 after purchasing an additional 11,800 shares during the period. Bristlecone Advisors LLC grew its holdings in Helmerich & Payne by 2.6% in the first quarter. Bristlecone Advisors LLC now owns 19,180 shares of the oil and gas company’s stock worth $1,277,000 after purchasing an additional 495 shares during the period. Brookstone Capital Management purchased a new stake in Helmerich & Payne in the second quarter worth about $284,000. Andra AP fonden grew its holdings in Helmerich & Payne by 65.7% in the second quarter. Andra AP fonden now owns 29,000 shares of the oil and gas company’s stock worth $1,576,000 after purchasing an additional 11,500 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Helmerich & Payne by 21.5% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 40,799 shares of the oil and gas company’s stock worth $2,217,000 after purchasing an additional 7,219 shares during the period.
About Helmerich & Payne
Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.
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