Helmerich & Payne, Inc. to Post Q3 2024 Earnings of $0.76 Per Share, Atb Cap Markets Forecasts (NYSE:HP)

Helmerich & Payne, Inc. (NYSE:HP) – Investment analysts at Atb Cap Markets dropped their Q3 2024 EPS estimates for shares of Helmerich & Payne in a research note issued to investors on Tuesday, April 30th. Atb Cap Markets analyst W. Syed now expects that the oil and gas company will earn $0.76 per share for the quarter, down from their previous estimate of $0.86. The consensus estimate for Helmerich & Payne’s current full-year earnings is $3.57 per share. Atb Cap Markets also issued estimates for Helmerich & Payne’s Q4 2024 earnings at $0.78 EPS, Q1 2026 earnings at $1.26 EPS and FY2026 earnings at $4.84 EPS.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. The firm had revenue of $687.94 million during the quarter, compared to analysts’ expectations of $682.51 million. During the same period last year, the company earned $1.26 earnings per share. The business’s revenue for the quarter was down 10.6% on a year-over-year basis.

Several other analysts have also recently issued reports on HP. Piper Sandler increased their target price on Helmerich & Payne from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th. Citigroup increased their price objective on shares of Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. The Goldman Sachs Group lowered their target price on shares of Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating on the stock in a report on Friday, January 12th. Susquehanna cut their target price on shares of Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating for the company in a research note on Friday, April 26th. Finally, Royal Bank of Canada boosted their price target on shares of Helmerich & Payne from $46.00 to $48.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Helmerich & Payne presently has a consensus rating of “Hold” and a consensus target price of $42.63.

Helmerich & Payne Trading Up 1.7 %

Shares of HP stock opened at $38.48 on Thursday. The stock has a fifty day simple moving average of $40.76 and a two-hundred day simple moving average of $38.62. Helmerich & Payne has a 52-week low of $30.41 and a 52-week high of $46.55. The firm has a market capitalization of $3.80 billion, a PE ratio of 10.99, a PEG ratio of 1.84 and a beta of 1.51. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.92 and a current ratio of 2.16.

Institutional Trading of Helmerich & Payne

A number of institutional investors have recently made changes to their positions in the business. Raymond James & Associates raised its position in Helmerich & Payne by 189.6% during the 3rd quarter. Raymond James & Associates now owns 51,946 shares of the oil and gas company’s stock worth $2,190,000 after buying an additional 34,007 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Helmerich & Payne by 5.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,178 shares of the oil and gas company’s stock valued at $935,000 after buying an additional 1,118 shares during the period. Strs Ohio boosted its stake in shares of Helmerich & Payne by 134.3% in the third quarter. Strs Ohio now owns 31,400 shares of the oil and gas company’s stock worth $1,323,000 after buying an additional 18,000 shares during the last quarter. Advisor Partners II LLC purchased a new stake in Helmerich & Payne in the 3rd quarter worth approximately $251,000. Finally, TD Asset Management Inc increased its holdings in shares of Helmerich & Payne by 71.7% during the 3rd quarter. TD Asset Management Inc now owns 29,700 shares of the oil and gas company’s stock valued at $1,252,000 after purchasing an additional 12,400 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Cara M. Hair sold 9,910 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $40.22, for a total transaction of $398,580.20. Following the transaction, the senior vice president now directly owns 137,764 shares of the company’s stock, valued at $5,540,868.08. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Cara M. Hair sold 9,910 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $40.22, for a total transaction of $398,580.20. Following the transaction, the senior vice president now owns 137,764 shares in the company, valued at $5,540,868.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark W. Smith sold 16,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $40.49, for a total transaction of $647,840.00. Following the transaction, the chief financial officer now directly owns 144,870 shares in the company, valued at approximately $5,865,786.30. The disclosure for this sale can be found here. Insiders own 4.38% of the company’s stock.

Helmerich & Payne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend is Thursday, May 16th. Helmerich & Payne’s dividend payout ratio (DPR) is presently 28.57%.

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.