Wall Street brokerages predict that Helmerich & Payne, Inc. (NYSE:HP) will post $679.78 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Helmerich & Payne’s earnings. The highest sales estimate is $686.00 million and the lowest is $653.00 million. Helmerich & Payne reported sales of $532.30 million in the same quarter last year, which indicates a positive year-over-year growth rate of 27.7%. The firm is expected to issue its next earnings results before the market opens on Friday, November 16th.
On average, analysts expect that Helmerich & Payne will report full year sales of $2.47 billion for the current financial year, with estimates ranging from $2.45 billion to $2.48 billion. For the next financial year, analysts expect that the company will post sales of $2.87 billion, with estimates ranging from $2.64 billion to $3.08 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Helmerich & Payne.
Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, July 25th. The oil and gas company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The firm had revenue of $648.87 million during the quarter, compared to analyst estimates of $617.06 million. Helmerich & Payne had a negative return on equity of 0.37% and a net margin of 19.70%. The business’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.25) earnings per share.
A number of equities research analysts have recently commented on the company. Capital One Financial upgraded Helmerich & Payne from an “equal weight” rating to an “overweight” rating in a research report on Friday, October 5th. Stephens upgraded Helmerich & Payne from an “equal weight” rating to an “overweight” rating and set a $67.00 price objective for the company in a research report on Monday, July 30th. Royal Bank of Canada upgraded Helmerich & Payne from a “sector perform” rating to an “outperform” rating and set a $90.00 price objective for the company in a research report on Thursday, September 20th. B. Riley upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating and increased their price objective for the company from $68.00 to $83.00 in a research report on Monday, September 24th. Finally, Piper Jaffray Companies set a $67.00 price objective on Helmerich & Payne and gave the company a “hold” rating in a research report on Sunday, July 29th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $71.63.
In other news, CEO John W. Lindsay sold 30,000 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $70.00, for a total value of $2,100,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Chapman Paula Marshall sold 11,309 shares of the stock in a transaction on Friday, September 14th. The shares were sold at an average price of $65.13, for a total value of $736,555.17. Following the completion of the sale, the director now owns 14,874 shares of the company’s stock, valued at approximately $968,743.62. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in HP. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its stake in shares of Helmerich & Payne by 109.2% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 20,025 shares of the oil and gas company’s stock worth $1,376,000 after acquiring an additional 10,455 shares during the last quarter. First Midwest Bank Trust Division increased its stake in shares of Helmerich & Payne by 16.6% in the third quarter. First Midwest Bank Trust Division now owns 19,180 shares of the oil and gas company’s stock worth $1,319,000 after acquiring an additional 2,737 shares during the last quarter. BTIM Corp. increased its stake in shares of Helmerich & Payne by 3.5% in the third quarter. BTIM Corp. now owns 200,462 shares of the oil and gas company’s stock worth $13,786,000 after acquiring an additional 6,711 shares during the last quarter. UMB Bank N A MO acquired a new position in shares of Helmerich & Payne in the third quarter worth $215,000. Finally, IFM Investors Pty Ltd increased its stake in shares of Helmerich & Payne by 24.4% in the third quarter. IFM Investors Pty Ltd now owns 6,201 shares of the oil and gas company’s stock worth $426,000 after acquiring an additional 1,218 shares during the last quarter. Institutional investors own 92.11% of the company’s stock.
Shares of NYSE:HP traded down $2.51 on Thursday, reaching $62.88. 887,890 shares of the company traded hands, compared to its average volume of 1,418,309. Helmerich & Payne has a fifty-two week low of $51.01 and a fifty-two week high of $75.02. The company has a market capitalization of $7.21 billion, a PE ratio of -49.51 and a beta of 1.36. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.57 and a current ratio of 2.97.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 12th will be issued a $0.71 dividend. The ex-dividend date is Thursday, November 8th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.52%. Helmerich & Payne’s payout ratio is currently -223.62%.
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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