Helmerich & Payne, Inc. (NYSE:HP) Plans Quarterly Dividend of $0.25

Helmerich & Payne, Inc. (NYSE:HPGet Free Report) declared a quarterly dividend on Wednesday, September 16th. Stockholders of record on Wednesday, November 18th will be paid a dividend of 0.25 per share by the oil and gas company on Wednesday, December 2nd. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, November 18th.

Helmerich & Payne has decreased its dividend payment by an average of 0.2%per year over the last three years. Helmerich & Payne has a dividend payout ratio of 69.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Helmerich & Payne to earn $1.60 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 62.5%.

Helmerich & Payne Stock Performance

HP opened at $41.72 on Thursday. Helmerich & Payne has a 12-month low of $20.32 and a 12-month high of $48.17. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $4.17 billion, a PE ratio of -29.59 and a beta of 0.66. The firm has a 50 day moving average of $39.49 and a two-hundred day moving average of $37.51.

Helmerich & Payne (NYSE:HPGet Free Report) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.20). Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $987.70 million. During the same period last year, the company earned $0.22 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. On average, analysts anticipate that Helmerich & Payne will post -0.18 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Weiss Ratings downgraded Helmerich & Payne from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, August 27th. The Goldman Sachs Group boosted their price objective on Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd. Royal Bank Of Canada upped their target price on Helmerich & Payne from $44.00 to $49.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 10th. Barclays raised their target price on Helmerich & Payne from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Finally, Citigroup lifted their price target on Helmerich & Payne from $36.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, September 4th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Helmerich & Payne presently has a consensus rating of “Hold” and a consensus price target of $43.10.

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Helmerich & Payne Company Profile

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Helmerich & Payne, Inc is a contract drilling company that provides land and offshore drilling services to oil and gas exploration and production companies. The company operates drilling rigs and supplies related services used to drill, develop and maintain wells.

H&P’s offerings include its FlexRig fleet of high-performance land rigs, directional drilling, automated drilling technologies and rig management services. These capabilities are designed to support horizontal and other complex well programs, particularly in unconventional oil and natural gas basins.

Founded in 1920 by Walter Helmerich and William Payne, the company is headquartered in Tulsa, Oklahoma.

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Dividend History for Helmerich & Payne (NYSE:HP)

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