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Brokers Set Expectations for Helmerich & Payne, Inc.’s Q2 2024 Earnings (NYSE:HP)

Helmerich & Payne logo with Oils/Energy background

Helmerich & Payne, Inc. (NYSE:HPFree Report) – Stock analysts at Seaport Res Ptn raised their Q2 2024 earnings estimates for shares of Helmerich & Payne in a research note issued on Monday, January 1st. Seaport Res Ptn analyst T. Curran now expects that the oil and gas company will earn $0.80 per share for the quarter, up from their prior estimate of $0.61. The consensus estimate for Helmerich & Payne’s current full-year earnings is $3.10 per share. Seaport Res Ptn also issued estimates for Helmerich & Payne’s FY2024 earnings at $3.57 EPS.

HP has been the subject of a number of other research reports. Piper Sandler dropped their price objective on shares of Helmerich & Payne from $51.00 to $47.00 and set an “overweight” rating for the company in a research note on Monday, November 13th. Susquehanna dropped their target price on shares of Helmerich & Payne from $53.00 to $50.00 and set a “positive” rating for the company in a research report on Wednesday, December 6th. StockNews.com cut Helmerich & Payne from a “buy” rating to a “hold” rating in a report on Tuesday, November 21st. Citigroup upped their price target on Helmerich & Payne from $38.00 to $42.00 in a report on Friday, October 6th. Finally, Atb Cap Markets cut Helmerich & Payne from an “outperform” rating to a “sector perform” rating in a report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $43.63.

Check Out Our Latest Analysis on Helmerich & Payne

Helmerich & Payne Price Performance

NYSE:HP opened at $36.46 on Thursday. Helmerich & Payne has a 12-month low of $30.41 and a 12-month high of $51.25. The company’s 50-day moving average is $37.47 and its two-hundred day moving average is $39.66. The company has a current ratio of 2.40, a quick ratio of 2.18 and a debt-to-equity ratio of 0.20. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 8.76 and a beta of 1.54.

Helmerich & Payne (NYSE:HPGet Free Report) last released its earnings results on Thursday, November 9th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.03). The firm had revenue of $659.61 million during the quarter, compared to analysts’ expectations of $662.17 million. Helmerich & Payne had a net margin of 15.11% and a return on equity of 15.76%. Helmerich & Payne’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the company posted $0.45 earnings per share.

Hedge Funds Weigh In On Helmerich & Payne

Large investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. lifted its stake in Helmerich & Payne by 221.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 533 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 367 shares during the last quarter. Bessemer Group Inc. lifted its stake in Helmerich & Payne by 331.4% during the second quarter. Bessemer Group Inc. now owns 906 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 696 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new position in Helmerich & Payne during the fourth quarter worth $45,000. Steward Partners Investment Advisory LLC lifted its stake in Helmerich & Payne by 689.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,145 shares of the oil and gas company’s stock worth $57,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Quarry LP bought a new position in Helmerich & Payne during the first quarter worth $43,000. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th will be paid a dividend of $0.42 per share. The ex-dividend date is Monday, February 12th. This is a boost from Helmerich & Payne’s previous quarterly dividend of $0.25. This represents a $1.68 annualized dividend and a yield of 4.61%. Helmerich & Payne’s dividend payout ratio (DPR) is 24.04%.

About Helmerich & Payne

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for Helmerich & Payne (NYSE:HP)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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