Equities research analysts expect that Helmerich & Payne, Inc. (NYSE:HP) will post $613.13 million in sales for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for Helmerich & Payne’s earnings, with the highest sales estimate coming in at $632.60 million and the lowest estimate coming in at $590.00 million. Helmerich & Payne posted sales of $498.56 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 23%. The company is expected to announce its next earnings results on Thursday, July 26th.
According to Zacks, analysts expect that Helmerich & Payne will report full year sales of $2.39 billion for the current financial year, with estimates ranging from $2.33 billion to $2.45 billion. For the next year, analysts expect that the business will report sales of $2.72 billion per share, with estimates ranging from $2.47 billion to $2.90 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Helmerich & Payne.
Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, April 26th. The oil and gas company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). Helmerich & Payne had a net margin of 20.39% and a negative return on equity of 0.81%. The firm had revenue of $577.50 million during the quarter, compared to the consensus estimate of $566.02 million. During the same quarter in the previous year, the company posted ($0.47) EPS. The firm’s revenue for the quarter was up 42.5% on a year-over-year basis.
Several research analysts recently weighed in on HP shares. Zacks Investment Research raised shares of Helmerich & Payne from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Tuesday, March 6th. UBS Group upgraded Helmerich & Payne from a “neutral” rating to a “positive” rating in a report on Friday, March 9th. Susquehanna Bancshares upgraded Helmerich & Payne from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $42.16 to $75.00 in a report on Friday, March 9th. ValuEngine cut Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Thursday, March 15th. Finally, Wells Fargo & Co upgraded Helmerich & Payne from an “underperform” rating to a “market perform” rating in a report on Wednesday, April 11th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company’s stock. Helmerich & Payne presently has a consensus rating of “Hold” and a consensus price target of $59.52.
Helmerich & Payne traded up $0.56, hitting $63.70, during trading on Wednesday, MarketBeat.com reports. The stock had a trading volume of 1,984,464 shares, compared to its average volume of 1,238,432. Helmerich & Payne has a 1-year low of $42.16 and a 1-year high of $75.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.32 and a quick ratio of 2.90.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 31st. Investors of record on Friday, August 17th will be given a dividend of $0.71 per share. The ex-dividend date is Thursday, August 16th. This is a positive change from Helmerich & Payne’s previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a yield of 4.46%. Helmerich & Payne’s payout ratio is -220.47%.
In related news, CFO Juan Pablo Tardio sold 52,781 shares of the business’s stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $72.44, for a total transaction of $3,823,455.64. Following the transaction, the chief financial officer now directly owns 25,628 shares of the company’s stock, valued at approximately $1,856,492.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert L. Stauder sold 3,820 shares of the business’s stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $69.30, for a total value of $264,726.00. Following the transaction, the vice president now directly owns 21,016 shares in the company, valued at $1,456,408.80. The disclosure for this sale can be found here. Insiders have sold a total of 67,481 shares of company stock worth $4,805,174 over the last three months. 4.10% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in HP. Teacher Retirement System of Texas acquired a new position in Helmerich & Payne during the 4th quarter worth approximately $1,891,000. California Public Employees Retirement System raised its position in shares of Helmerich & Payne by 2.2% in the 4th quarter. California Public Employees Retirement System now owns 374,165 shares of the oil and gas company’s stock valued at $24,186,000 after purchasing an additional 8,127 shares in the last quarter. First Trust Advisors LP raised its position in shares of Helmerich & Payne by 1.5% during the 4th quarter. First Trust Advisors LP now owns 164,261 shares of the oil and gas company’s stock valued at $10,618,000 after acquiring an additional 2,421 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Helmerich & Payne by 3.0% during the 4th quarter. Wells Fargo & Company MN now owns 525,744 shares of the oil and gas company’s stock valued at $33,985,000 after acquiring an additional 15,521 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Helmerich & Payne by 3.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 173,122 shares of the oil and gas company’s stock valued at $11,191,000 after acquiring an additional 6,258 shares in the last quarter. 95.92% of the stock is currently owned by hedge funds and other institutional investors.
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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