Jefferies Financial Group Analysts Increase Earnings Estimates for Helmerich & Payne, Inc. (HP)
Helmerich & Payne, Inc. (NYSE:HP) – Equities research analysts at Jefferies Financial Group increased their Q2 2019 EPS estimates for Helmerich & Payne in a research report issued on Monday, November 19th. Jefferies Financial Group analyst B. Handler now expects that the oil and gas company will earn $0.43 per share for the quarter, up from their prior estimate of $0.39. Jefferies Financial Group currently has a “Buy” rating and a $76.00 target price on the stock. Jefferies Financial Group also issued estimates for Helmerich & Payne’s FY2022 earnings at $7.10 EPS.
Helmerich & Payne (NYSE:HP) last posted its earnings results on Thursday, November 15th. The oil and gas company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. The business had revenue of $696.83 million for the quarter, compared to analysts’ expectations of $683.89 million. Helmerich & Payne had a net margin of 19.41% and a return on equity of 0.41%.
NYSE HP opened at $64.36 on Tuesday. The stock has a market capitalization of $6.82 billion, a P/E ratio of 459.71 and a beta of 1.30. Helmerich & Payne has a twelve month low of $54.00 and a twelve month high of $75.02. The company has a current ratio of 2.96, a quick ratio of 2.57 and a debt-to-equity ratio of 0.11.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 12th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.41%. Helmerich & Payne’s payout ratio is 2,028.57%.
In other news, Director Chapman Paula Marshall sold 11,309 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $65.13, for a total transaction of $736,555.17. Following the transaction, the director now directly owns 14,874 shares in the company, valued at $968,743.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John W. Lindsay sold 30,000 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $70.00, for a total transaction of $2,100,000.00. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in HP. American Century Companies Inc. lifted its holdings in Helmerich & Payne by 406.4% in the third quarter. American Century Companies Inc. now owns 983,927 shares of the oil and gas company’s stock valued at $67,665,000 after buying an additional 789,623 shares during the period. AQR Capital Management LLC lifted its holdings in Helmerich & Payne by 208.6% in the third quarter. AQR Capital Management LLC now owns 920,657 shares of the oil and gas company’s stock valued at $63,314,000 after buying an additional 622,317 shares during the period. Janus Henderson Group PLC lifted its holdings in Helmerich & Payne by 692.2% in the second quarter. Janus Henderson Group PLC now owns 687,928 shares of the oil and gas company’s stock valued at $43,862,000 after buying an additional 601,088 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Helmerich & Payne in the second quarter valued at approximately $21,926,000. Finally, Pinnacle Associates Ltd. lifted its holdings in Helmerich & Payne by 163.1% in the second quarter. Pinnacle Associates Ltd. now owns 505,777 shares of the oil and gas company’s stock valued at $32,248,000 after buying an additional 313,569 shares during the period. Institutional investors and hedge funds own 90.07% of the company’s stock.
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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