Zacks Research Research Analysts Cut Earnings Estimates for Helmerich & Payne, Inc. (NYSE:HP)

Helmerich & Payne, Inc. (NYSE:HP) – Research analysts at Zacks Research decreased their Q3 2024 EPS estimates for Helmerich & Payne in a research note issued on Friday, May 3rd. Zacks Research analyst N. Choudhury now anticipates that the oil and gas company will post earnings per share of $0.76 for the quarter, down from their previous estimate of $0.85. The consensus estimate for Helmerich & Payne’s current full-year earnings is $3.56 per share. Zacks Research also issued estimates for Helmerich & Payne’s Q4 2024 earnings at $0.80 EPS, FY2024 earnings at $3.37 EPS and Q1 2026 earnings at $0.67 EPS.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). The business had revenue of $687.94 million during the quarter, compared to the consensus estimate of $682.51 million. Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. The business’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period last year, the company earned $1.26 earnings per share.

Several other equities analysts have also recently commented on the stock. Royal Bank of Canada raised their target price on shares of Helmerich & Payne from $46.00 to $48.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, April 25th. Citigroup lifted their price target on Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. The Goldman Sachs Group dropped their price objective on Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating on the stock in a research note on Friday, January 12th. Finally, Susquehanna lowered their target price on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $42.00.

Helmerich & Payne Price Performance

Shares of HP opened at $38.45 on Monday. Helmerich & Payne has a one year low of $30.41 and a one year high of $46.55. The stock’s fifty day moving average is $40.77 and its 200-day moving average is $38.51. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.92 and a current ratio of 2.16. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 1.85 and a beta of 1.51.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of HP. LSV Asset Management grew its stake in shares of Helmerich & Payne by 37.9% during the first quarter. LSV Asset Management now owns 784,139 shares of the oil and gas company’s stock worth $32,981,000 after purchasing an additional 215,339 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in Helmerich & Payne by 9.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 8,855 shares of the oil and gas company’s stock worth $372,000 after buying an additional 734 shares during the period. Texas Permanent School Fund Corp lifted its holdings in Helmerich & Payne by 0.7% during the first quarter. Texas Permanent School Fund Corp now owns 86,492 shares of the oil and gas company’s stock worth $3,638,000 after acquiring an additional 601 shares in the last quarter. Catalina Capital Group LLC lifted its holdings in shares of Helmerich & Payne by 12.2% during the 1st quarter. Catalina Capital Group LLC now owns 9,896 shares of the oil and gas company’s stock valued at $416,000 after purchasing an additional 1,078 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Helmerich & Payne during the 1st quarter worth approximately $106,000. Institutional investors own 96.05% of the company’s stock.

Insiders Place Their Bets

In other Helmerich & Payne news, SVP Cara M. Hair sold 9,910 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $40.22, for a total value of $398,580.20. Following the sale, the senior vice president now directly owns 137,764 shares in the company, valued at approximately $5,540,868.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Mark W. Smith sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $40.49, for a total transaction of $647,840.00. Following the sale, the chief financial officer now directly owns 144,870 shares in the company, valued at $5,865,786.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Cara M. Hair sold 9,910 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $40.22, for a total transaction of $398,580.20. Following the transaction, the senior vice president now directly owns 137,764 shares of the company’s stock, valued at $5,540,868.08. The disclosure for this sale can be found here. Company insiders own 4.38% of the company’s stock.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date is Thursday, May 16th. Helmerich & Payne’s dividend payout ratio (DPR) is currently 28.57%.

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.