Q3 2024 EPS Estimates for Helmerich & Payne, Inc. Lowered by Zacks Research (NYSE:HP)

Helmerich & Payne, Inc. (NYSE:HP) – Equities researchers at Zacks Research decreased their Q3 2024 earnings estimates for Helmerich & Payne in a report released on Friday, May 3rd. Zacks Research analyst N. Choudhury now expects that the oil and gas company will post earnings per share of $0.76 for the quarter, down from their previous forecast of $0.85. The consensus estimate for Helmerich & Payne’s current full-year earnings is $3.56 per share. Zacks Research also issued estimates for Helmerich & Payne’s Q4 2024 earnings at $0.80 EPS, FY2024 earnings at $3.37 EPS and Q1 2026 earnings at $0.67 EPS.

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

Several other research analysts have also recently commented on HP. Susquehanna cut their price target on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a research note on Friday, April 26th. Piper Sandler raised their price target on shares of Helmerich & Payne from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, April 25th. The Goldman Sachs Group reduced their price objective on shares of Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating on the stock in a research note on Friday, January 12th. Finally, Barclays downgraded shares of Helmerich & Payne from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $44.00 to $40.00 in a research report on Wednesday, January 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $42.63.

Helmerich & Payne Stock Performance

NYSE:HP opened at $38.47 on Monday. The firm has a 50-day moving average of $40.77 and a two-hundred day moving average of $38.55. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 1.92. The stock has a market cap of $3.80 billion, a P/E ratio of 10.99, a PEG ratio of 1.85 and a beta of 1.51. Helmerich & Payne has a 1-year low of $30.41 and a 1-year high of $46.55.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Catalina Capital Group LLC raised its position in shares of Helmerich & Payne by 12.2% during the 1st quarter. Catalina Capital Group LLC now owns 9,896 shares of the oil and gas company’s stock worth $416,000 after buying an additional 1,078 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Helmerich & Payne during the first quarter worth approximately $106,000. Whittier Trust Co. lifted its position in Helmerich & Payne by 94.9% in the first quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 595 shares during the period. Nordea Investment Management AB boosted its stake in Helmerich & Payne by 0.6% during the 1st quarter. Nordea Investment Management AB now owns 175,447 shares of the oil and gas company’s stock valued at $7,453,000 after purchasing an additional 1,082 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Helmerich & Payne by 48.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,533 shares of the oil and gas company’s stock valued at $443,000 after purchasing an additional 3,416 shares during the period. Institutional investors and hedge funds own 96.05% of the company’s stock.

Insider Buying and Selling

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

Helmerich & Payne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date is Thursday, May 16th. Helmerich & Payne’s dividend payout ratio 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.