Helmerich & Payne (NYSE:HP) Announces Earnings Results, Misses Estimates By $0.27 EPS

Helmerich & Payne (NYSE:HP) announced its earnings results on Wednesday. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.27), FiscalAI reports. Helmerich & Payne had a positive return on equity of 3.21% and a negative net margin of 4.37%.

Helmerich & Payne Stock Up 2.3%

HP stock traded up $0.82 during mid-day trading on Wednesday, reaching $36.31. 3,074,698 shares of the company traded hands, compared to its average volume of 1,725,444. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of -21.74 and a beta of 0.57. The company has a quick ratio of 1.40, a current ratio of 1.80 and a debt-to-equity ratio of 0.73. Helmerich & Payne has a fifty-two week low of $14.65 and a fifty-two week high of $36.73. The firm’s 50 day moving average price is $30.35 and its 200 day moving average price is $24.75.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.00 annualized dividend and a yield of 2.8%. Helmerich & Payne’s dividend payout ratio (DPR) is presently -59.88%.

Insider Activity

In other Helmerich & Payne news, Director Hans Helmerich sold 75,000 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $28.12, for a total value of $2,109,000.00. Following the completion of the sale, the director directly owned 496,735 shares of the company’s stock, valued at approximately $13,968,188.20. This represents a 13.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HP. Holocene Advisors LP purchased a new stake in Helmerich & Payne during the second quarter valued at about $1,636,000. Creative Planning raised its position in shares of Helmerich & Payne by 117.9% during the 3rd quarter. Creative Planning now owns 74,096 shares of the oil and gas company’s stock valued at $1,637,000 after buying an additional 40,095 shares in the last quarter. Mariner LLC raised its holdings in shares of Helmerich & Payne by 7.1% during the 3rd quarter. Mariner LLC now owns 22,759 shares of the oil and gas company’s stock valued at $503,000 after buying an additional 1,503 shares in the last quarter. FORA Capital LLC bought a new position in shares of Helmerich & Payne during the 2nd quarter valued at $500,000. Finally, Dark Forest Capital Management LP bought a new position in Helmerich & Payne during the 3rd quarter worth approximately $415,000. 96.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HP has been the subject of several recent research reports. Evercore ISI boosted their price target on Helmerich & Payne from $20.00 to $27.00 and gave the company an “in-line” rating in a research note on Wednesday, November 19th. JPMorgan Chase & Co. raised shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $24.00 to $34.00 in a research note on Wednesday, December 10th. Wall Street Zen downgraded Helmerich & Payne from a “hold” rating to a “sell” rating in a research report on Sunday, November 23rd. Morgan Stanley reaffirmed an “underweight” rating and set a $28.00 price target on shares of Helmerich & Payne in a research note on Wednesday, January 21st. Finally, Citigroup raised their price objective on Helmerich & Payne from $29.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Helmerich & Payne presently has an average rating of “Hold” and a consensus target price of $33.00.

About Helmerich & Payne

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.