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

Helmerich & Payne, Inc. (NYSE:HP) – Investment analysts at Zacks Research raised their FY2024 earnings per share (EPS) estimates for shares of Helmerich & Payne in a report issued on Monday, September 30th. Zacks Research analyst N. Choudhury now expects that the oil and gas company will post earnings of $3.48 per share for the year, up from their prior forecast of $3.47. The consensus estimate for Helmerich & Payne’s current full-year earnings is $3.48 per share. Zacks Research also issued estimates for Helmerich & Payne’s Q4 2024 earnings at $0.75 EPS, Q3 2025 earnings at $0.80 EPS, Q4 2025 earnings at $0.70 EPS, Q2 2026 earnings at $0.69 EPS, Q3 2026 earnings at $0.78 EPS, Q4 2026 earnings at $0.78 EPS and FY2026 earnings at $3.05 EPS.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.15. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The business had revenue of $697.70 million for the quarter, compared to the consensus estimate of $670.78 million. During the same period in the prior year, the business earned $1.09 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis.

A number of other research analysts also recently weighed in on the company. The Goldman Sachs Group dropped their price target on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Bank of America dropped their price target on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Citigroup lowered their price objective on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. Finally, Piper Sandler lowered their price objective on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $40.88.

Helmerich & Payne Stock Up 2.1 %

HP stock opened at $32.25 on Wednesday. The stock’s 50 day simple moving average is $33.38 and its 200 day simple moving average is $36.72. Helmerich & Payne has a fifty-two week low of $29.46 and a fifty-two week high of $44.80. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.87 and a current ratio of 2.12. The company has a market cap of $3.18 billion, a P/E ratio of 9.21, a price-to-earnings-growth ratio of 3.62 and a beta of 1.42.

Helmerich & Payne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Monday, November 18th. Helmerich & Payne’s dividend payout ratio is presently 28.57%.

Hedge Funds Weigh In On Helmerich & Payne

Several institutional investors have recently modified their holdings of HP. Headlands Technologies LLC bought a new position in shares of Helmerich & Payne in the first quarter valued at approximately $33,000. Hexagon Capital Partners LLC grew its holdings in Helmerich & Payne by 514.4% during the first quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 787 shares during the period. Covestor Ltd grew its holdings in Helmerich & Payne by 253.4% during the first quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 674 shares during the period. Whittier Trust Co. grew its holdings in Helmerich & Payne by 94.9% during the first quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 595 shares during the period. Finally, Creekmur Asset Management LLC bought a new position in Helmerich & Payne during the fourth quarter valued at $60,000. 96.05% of the stock is owned by institutional investors.

About Helmerich & Payne

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.