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. 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, 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)

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