Helmerich & Payne, Inc. Plans Quarterly Dividend of $0.25 (NYSE:HP)

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) announced a quarterly dividend on Monday, March 10th, Wall Street Journal reports. Shareholders of record on Thursday, May 15th will be given a dividend of 0.25 per share by the oil and gas company on Friday, May 30th. This represents a $1.00 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend is Thursday, May 15th.

Helmerich & Payne has a payout ratio of 29.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Helmerich & Payne to earn $3.13 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 31.9%.

Helmerich & Payne Trading Up 4.1 %

Shares of NYSE:HP traded up $1.02 during trading hours on Friday, hitting $25.85. 390,671 shares of the company's stock traded hands, compared to its average volume of 1,410,130. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.52. The business has a fifty day moving average price of $30.18 and a 200-day moving average price of $32.17. Helmerich & Payne has a 1 year low of $23.80 and a 1 year high of $44.11. The firm has a market capitalization of $2.57 billion, a P/E ratio of 8.50, a price-to-earnings-growth ratio of 3.52 and a beta of 1.42.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. Equities analysts expect that Helmerich & Payne will post 2.93 earnings per share for the current year.

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Insider Activity

In related news, Director Belgacem Chariag acquired 37,356 shares of Helmerich & Payne stock in a transaction that occurred on Monday, February 10th. The shares were purchased at an average price of $27.08 per share, for a total transaction of $1,011,600.48. Following the completion of the transaction, the director now owns 54,606 shares in the company, valued at $1,478,730.48. This represents a 216.56 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John W. Lindsay bought 20,000 shares of the company's stock in a transaction on Monday, February 10th. The stock was bought at an average price of $27.55 per share, with a total value of $551,000.00. Following the completion of the acquisition, the chief executive officer now owns 691,214 shares in the company, valued at $19,042,945.70. This represents a 2.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 4.51% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on HP shares. Citigroup raised shares of Helmerich & Payne from a "neutral" rating to a "buy" rating and increased their price target for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Benchmark reiterated a "hold" rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Evercore ISI reiterated an "in-line" rating and set a $39.00 price objective (down previously from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Argus upgraded Helmerich & Payne to a "hold" rating in a research report on Tuesday, February 11th. Finally, Royal Bank of Canada cut their price objective on shares of Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating for the company in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Helmerich & Payne currently has an average rating of "Hold" and an average target price of $37.25.

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.