Helmerich & Payne, Inc. to Post Q3 2024 Earnings of $0.86 Per Share, Zacks Research Forecasts (NYSE:HP)

Helmerich & Payne, Inc. (NYSE:HPFree Report) – Analysts at Zacks Research decreased their Q3 2024 EPS estimates for shares of Helmerich & Payne in a research note issued to investors on Tuesday, March 19th. Zacks Research analyst N. Choudhury now anticipates that the oil and gas company will post earnings per share of $0.86 for the quarter, down from their prior forecast of $0.87. The consensus estimate for Helmerich & Payne’s current full-year earnings is $3.50 per share. Zacks Research also issued estimates for Helmerich & Payne’s Q4 2024 earnings at $0.88 EPS, FY2024 earnings at $3.50 EPS, Q2 2025 earnings at $0.70 EPS, Q3 2025 earnings at $0.77 EPS and FY2026 earnings at $2.70 EPS.

Helmerich & Payne (NYSE:HPGet Free Report) last announced its earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.24. The company had revenue of $677.00 million during the quarter, compared to analyst estimates of $661.81 million. Helmerich & Payne had a net margin of 15.27% and a return on equity of 15.06%. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.11 earnings per share.

A number of other research firms have also weighed in on HP. Royal Bank of Canada upped their price target on shares of Helmerich & Payne from $46.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. Susquehanna restated a “positive” rating and set a $50.00 target price on shares of Helmerich & Payne in a research report on Tuesday, February 13th. The Goldman Sachs Group dropped their target price on shares of Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating for the company in a research report on Friday, January 12th. Barclays lowered shares of Helmerich & Payne from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $44.00 to $40.00 in a research report on Wednesday, January 10th. Finally, Benchmark lowered shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $42.63.

Read Our Latest Report on HP

Helmerich & Payne Stock Performance

HP opened at $41.28 on Thursday. The firm has a market cap of $4.08 billion, a P/E ratio of 9.85, a PEG ratio of 8.88 and a beta of 1.50. Helmerich & Payne has a 1-year low of $30.41 and a 1-year high of $46.55. The company has a 50 day simple moving average of $38.03 and a two-hundred day simple moving average of $38.84. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.11 and a quick ratio of 1.89.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Thursday, May 16th. Helmerich & Payne’s dividend payout ratio is presently 23.87%.

Institutional Trading of Helmerich & Payne

Several institutional investors and hedge funds have recently modified their holdings of HP. Wellington Management Group LLP raised its stake in Helmerich & Payne by 11.9% in the fourth quarter. Wellington Management Group LLP now owns 1,004,518 shares of the oil and gas company’s stock worth $36,384,000 after buying an additional 106,491 shares in the last quarter. Creekmur Asset Management LLC bought a new position in Helmerich & Payne in the fourth quarter worth approximately $60,000. Goldman Sachs Group Inc. raised its stake in Helmerich & Payne by 2.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 979,230 shares of the oil and gas company’s stock worth $35,468,000 after buying an additional 21,291 shares in the last quarter. Neo Ivy Capital Management bought a new position in Helmerich & Payne in the fourth quarter worth approximately $176,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Helmerich & Payne by 20.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 101,367 shares of the oil and gas company’s stock worth $3,673,000 after buying an additional 17,197 shares in the last quarter. Institutional investors own 96.05% of the company’s stock.

About Helmerich & Payne

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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.

Further Reading

Earnings History and Estimates for Helmerich & Payne (NYSE:HP)

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