Helmerich & Payne, Inc. Announces Quarterly Dividend of $0.25 (NYSE:HP)

Helmerich & Payne, Inc. (NYSE:HP) declared a quarterly dividend on Tuesday, December 9th. Stockholders of record on Friday, February 13th will be paid a dividend of 0.25 per share by the oil and gas company on Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, February 13th.

Helmerich & Payne has decreased its dividend by an average of 0.2%per year over the last three years. Helmerich & Payne has a payout ratio of 69.4% meaning 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 HP stock traded up $0.45 during trading on Wednesday, reaching $30.20. 397,701 shares of the company’s stock were exchanged, compared to its average volume of 1,878,456. Helmerich & Payne has a twelve month low of $14.65 and a twelve month high of $37.30. The firm’s fifty day moving average price is $25.98 and its 200-day moving average price is $20.76. The company has a quick ratio of 1.40, a current ratio of 1.80 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $2.97 billion, a PE ratio of -18.08 and a beta of 0.56.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Monday, November 17th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.27). Helmerich & Payne had a negative net margin of 4.37% and a positive return on equity of 3.21%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $972.79 million. During the same period in the prior year, the business earned $0.76 EPS. The company’s revenue for the quarter was up 45.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Helmerich & Payne will post 2.93 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on HP shares. Cowen reaffirmed a “hold” rating on shares of Helmerich & Payne in a report on Wednesday, November 26th. Barclays boosted their price objective on Helmerich & Payne from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. Susquehanna increased their target price on Helmerich & Payne from $26.00 to $31.00 and gave the stock a “positive” rating in a research note on Wednesday, November 19th. Evercore ISI lifted their price target on Helmerich & Payne from $20.00 to $27.00 and gave the stock an “in-line” rating in a report on Wednesday, November 19th. Finally, Piper Sandler boosted their price target on Helmerich & Payne from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, August 14th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Helmerich & Payne presently has an average rating of “Hold” and a consensus target price of $28.40.

Helmerich & Payne Company Profile

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.