Wall Street brokerages expect Helmerich & Payne (NYSE:HP) to announce sales of $614.29 million for the current quarter, Zacks reports. Nine analysts have issued estimates for Helmerich & Payne’s earnings, with the lowest sales estimate coming in at $590.00 million and the highest estimate coming in at $632.60 million. Helmerich & Payne posted sales of $498.56 million during the same quarter last year, which suggests a positive year over year growth rate of 23.2%. The business is expected to report its next earnings report on Thursday, July 26th.
On average, analysts expect that Helmerich & Payne will report full-year sales of $2.39 billion for the current financial year, with estimates ranging from $2.33 billion to $2.45 billion. For the next year, analysts expect that the company will post sales of $2.72 billion per share, with estimates ranging from $2.47 billion to $2.90 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Helmerich & Payne.
Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Thursday, April 26th. The oil and gas company reported ($0.05) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.05). The company had revenue of $577.50 million for the quarter, compared to analyst estimates of $566.02 million. Helmerich & Payne had a negative return on equity of 0.81% and a net margin of 20.39%. The firm’s quarterly revenue was up 42.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.47) earnings per share.
A number of research firms recently commented on HP. ValuEngine raised Helmerich & Payne from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. B. Riley boosted their price target on Helmerich & Payne from $60.00 to $68.00 and gave the company a “hold” rating in a research note on Monday, April 30th. TheStreet lowered Helmerich & Payne from a “b-” rating to a “c” rating in a research note on Thursday, April 26th. Credit Suisse Group boosted their price target on Helmerich & Payne from $51.00 to $63.00 and gave the company a “market perform” rating in a research note on Friday, April 27th. Finally, Susquehanna Bancshares set a $84.00 price target on Helmerich & Payne and gave the company a “buy” rating in a research note on Friday, April 27th. Six research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $57.88.
In related news, CFO Juan Pablo Tardio sold 10,880 shares of the company’s stock in a transaction on Thursday, March 29th. The stock was sold at an average price of $65.90, for a total transaction of $716,992.00. Following the completion of the sale, the chief financial officer now owns 16,628 shares in the company, valued at $1,095,785.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert L. Stauder sold 3,820 shares of the company’s stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $69.30, for a total value of $264,726.00. Following the sale, the vice president now owns 21,016 shares of the company’s stock, valued at approximately $1,456,408.80. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in Helmerich & Payne by 1.2% during the fourth quarter. BlackRock Inc. now owns 11,346,521 shares of the oil and gas company’s stock worth $733,438,000 after buying an additional 129,250 shares in the last quarter. Franklin Resources Inc. grew its holdings in Helmerich & Payne by 14.9% during the fourth quarter. Franklin Resources Inc. now owns 7,189,211 shares of the oil and gas company’s stock worth $464,727,000 after buying an additional 934,765 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Helmerich & Payne by 3.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,696,482 shares of the oil and gas company’s stock worth $179,478,000 after buying an additional 78,481 shares in the last quarter. Kiltearn Partners LLP grew its holdings in Helmerich & Payne by 1.6% during the fourth quarter. Kiltearn Partners LLP now owns 2,557,602 shares of the oil and gas company’s stock worth $165,323,000 after buying an additional 41,500 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Helmerich & Payne by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 1,230,247 shares of the oil and gas company’s stock worth $79,363,000 after buying an additional 48,397 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.
Shares of Helmerich & Payne stock traded up $0.62 during midday trading on Wednesday, reaching $72.61. The company had a trading volume of 989,900 shares, compared to its average volume of 1,634,145. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.32 and a quick ratio of 2.90. The firm has a market cap of $7.84 billion, a P/E ratio of -57.17 and a beta of 1.33. Helmerich & Payne has a fifty-two week low of $42.16 and a fifty-two week high of $75.02.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Friday, May 18th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend is Thursday, May 17th. Helmerich & Payne’s payout ratio is -220.47%.
About Helmerich & Payne
Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.
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