Helmerich & Payne, Inc. (NYSE: HP- Get a rating) declared a quarterly dividend on Wednesday, March 2 Zacks reports. Investors of record on Friday, May 13 will receive a dividend of 0.25 per share from the oil and gas company on Friday, May 27. This represents a dividend of $1.00 on an annualized basis and a yield of 2.59%. The ex-date of this dividend is Thursday, May 12.
Helmerich & Payne has decreased its dividend by 29.2% over the past three years and has increased its dividend annually for the past 2 consecutive years. Helmerich & Payne has a dividend payout ratio of 212.8%, indicating that the company cannot currently cover its dividend with earnings alone and relies on its balance sheet to cover its dividend payments. Stock analysts expect Helmerich & Payne to earn $0.54 per share next year, meaning the company may not be able to cover its $1.00 annual dividend with a ratio of expected future payout of 185.2%.
NYSE HP shares opened at $38.61 on Friday. Helmerich & Payne has a 12-month low of $20.93 and a 12-month high of $38.64. The company has a fifty-day simple moving average of $30.32 and a 200-day simple moving average of $28.73. The company has a market capitalization of $4.07 billion, a PE ratio of -13.45 and a beta of 1.91. The company has a quick ratio of 2.17, a current ratio of 2.39 and a leverage ratio of 0.20.
Helmerich & Payne (NYSE: HP – Get a rating) last released its quarterly results on Monday, January 31. The oil and gas company reported ($0.45) EPS for the quarter, beating analyst consensus estimates of ($0.50) by $0.05. Helmerich & Payne had a negative net margin of 22.22% and a negative return on equity of 8.10%. During the same period of the previous year, the company made ($0.82) earnings per share. As a group, stock analysts expect Helmerich & Payne to post -0.93 earnings per share for the current fiscal year.
Separately, CEO John W. Lindsay sold 9,000 shares of the company in a trade on Tuesday, March 1. The shares were sold at an average price of $37.50, for a total transaction of $337,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via this link. Additionally, CAO Sara Marie Momper sold 2,000 shares of the company in a trade on Tuesday, March 1. The shares were sold at an average price of $37.47, for a total transaction of $74,940.00. Disclosure of this sale can be found here. In the past three months, insiders have sold 18,116 shares of the company valued at $585,999. Company insiders hold 4.35% of the company’s shares.
Hedge funds and other institutional investors have recently changed their stakes in the company. JustInvest LLC bought a new position in Helmerich & Payne in Q4 worth $211,000. Janus Henderson Group PLC bought a new position in shares of Helmerich & Payne in Q3 for a value of approximately $298,000. Virtu Financial LLC bought a new position in shares of Helmerich & Payne in the 4th quarter for a value of approximately $391,000. UBS Group AG increased its holding in shares of Helmerich & Payne by 61.4% in the third quarter. UBS Group AG now owns 68,979 shares in the oil and gas company worth $1,890,000 after acquiring an additional 26,251 shares last quarter. Finally, Deutsche Bank AG increased its holding in Helmerich & Payne shares by 6.5% in the 4th quarter. Deutsche Bank AG now owns 88,531 shares in the oil and gas company worth $2,098,000 after acquiring 5,404 more shares last quarter. Institutional investors and hedge funds hold 86.79% of the company’s shares.
A number of research analysts have recently released HP stock reports. Citigroup cut its price target on Helmerich & Payne shares from $30.00 to $28.00 and set a “neutral” rating for the company in a Friday, November 19 report. Barclays upgraded the shares of Helmerich & Payne from a “weighted” rating to an “overweight” rating in a report on Tuesday, January 4. Morgan Stanley raised its price target on Helmerich & Payne shares from $27.00 to $29.00 and gave the stock an “underweight” rating in a Monday, Feb. 7 report. StockNews.com upgraded Helmerich & Payne shares from a “sell” rating to a “hold” rating in a Saturday, February 5, report. Finally, Royal Bank of Canada cut its price target on Helmerich & Payne shares from $40.00 to $38.00 and set an “outperform” rating for the stock in a Friday, November 19 report. . Two investment analysts gave the stock a sell rating, eight issued a hold rating and five gave the company a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.92.
Helmerich & Payne Company Profile (Get a rating)
Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to providing industry-leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, security and innovation to deliver superior results for its customers and returns for shareholders.
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