Zacks: Brokerages Anticipate Helmerich & Payne, Inc. (HP) to Post $0.38 Earnings Per Share

Wall Street analysts predict that Helmerich & Payne, Inc. (NYSE:HP) will post earnings per share of $0.38 for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Helmerich & Payne’s earnings, with estimates ranging from $0.31 to $0.42. Helmerich & Payne reported earnings of ($0.05) per share in the same quarter last year, which would suggest a positive year over year growth rate of 860%. The company is expected to report its next quarterly earnings report on Thursday, April 25th.

According to Zacks, analysts expect that Helmerich & Payne will report full-year earnings of $1.58 per share for the current year, with EPS estimates ranging from $1.18 to $1.74. For the next fiscal year, analysts expect that the firm will post earnings of $2.37 per share, with EPS estimates ranging from $1.45 to $3.85. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Helmerich & Payne.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Tuesday, January 29th. The oil and gas company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.14. The firm had revenue of $740.60 million for the quarter, compared to analysts’ expectations of $716.12 million. Helmerich & Payne had a return on equity of 1.18% and a net margin of 0.06%.

Several research firms have recently weighed in on HP. Zacks Investment Research cut Helmerich & Payne from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. BMO Capital Markets raised Helmerich & Payne from an “underperform” rating to a “market perform” rating and set a $68.00 price target on the stock in a report on Monday, October 29th. Wells Fargo & Co reissued a “buy” rating on shares of Helmerich & Payne in a report on Sunday, January 6th. Cowen set a $66.00 price target on Helmerich & Payne and gave the company a “hold” rating in a report on Sunday, November 18th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $72.00 price target on shares of Helmerich & Payne in a report on Monday, December 17th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. Helmerich & Payne presently has a consensus rating of “Hold” and an average target price of $67.11.

In related news, VP John R. Bell sold 13,000 shares of the firm’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $60.17, for a total value of $782,210.00. Following the transaction, the vice president now directly owns 63,375 shares of the company’s stock, valued at approximately $3,813,273.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Michael Lennox sold 6,912 shares of the firm’s stock in a transaction on Tuesday, December 11th. The stock was sold at an average price of $60.08, for a total value of $415,272.96. Following the completion of the transaction, the vice president now directly owns 10,360 shares in the company, valued at $622,428.80. The disclosure for this sale can be found here. 4.17% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Capital Investment Advisory Services LLC purchased a new stake in Helmerich & Payne in the 4th quarter worth $31,000. CSat Investment Advisory L.P. increased its stake in Helmerich & Payne by 41.5% in the 4th quarter. CSat Investment Advisory L.P. now owns 679 shares of the oil and gas company’s stock worth $33,000 after buying an additional 199 shares in the last quarter. First Mercantile Trust Co. increased its stake in Helmerich & Payne by 43.3% in the 4th quarter. First Mercantile Trust Co. now owns 960 shares of the oil and gas company’s stock worth $46,000 after buying an additional 290 shares in the last quarter. Enlightenment Research LLC purchased a new stake in Helmerich & Payne in the 4th quarter worth $48,000. Finally, Captrust Financial Advisors increased its stake in Helmerich & Payne by 639.2% in the 4th quarter. Captrust Financial Advisors now owns 1,264 shares of the oil and gas company’s stock worth $61,000 after buying an additional 1,093 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Shares of NYSE HP traded up $0.42 during midday trading on Monday, hitting $57.40. 1,364,488 shares of the stock traded hands, compared to its average volume of 1,516,781. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 410.00 and a beta of 1.57. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.70 and a quick ratio of 2.29. Helmerich & Payne has a one year low of $44.56 and a one year high of $74.36.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 8th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Thursday, February 7th. This represents a $2.84 dividend on an annualized basis and a yield of 4.95%. Helmerich & Payne’s dividend payout ratio is currently 2,028.57%.

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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