Zacks Research Comments on Helmerich & Payne, Inc.'s FY2024 Earnings (NYSE:HP)

Helmerich & Payne, Inc. (NYSE:HP - Free Report) - Stock analysts at Zacks Research upped their FY2024 EPS estimates for Helmerich & Payne in a research note issued on Monday, September 30th. Zacks Research analyst N. Choudhury now forecasts that the oil and gas company will post earnings of $3.48 per share for the year, up from their prior estimate of $3.47. The consensus estimate for Helmerich & Payne's current full-year earnings is $3.48 per share. Zacks Research also issued estimates for Helmerich & Payne's Q4 2024 earnings at $0.75 EPS, Q3 2025 earnings at $0.80 EPS, Q4 2025 earnings at $0.70 EPS, Q2 2026 earnings at $0.69 EPS, Q3 2026 earnings at $0.78 EPS, Q4 2026 earnings at $0.78 EPS and FY2026 earnings at $3.05 EPS.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.15. The business had revenue of $697.70 million for the quarter, compared to analyst estimates of $670.78 million. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. Helmerich & Payne's quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS.

A number of other equities research analysts have also weighed in on the stock. Benchmark reissued a "hold" rating on shares of Helmerich & Payne in a report on Monday, August 5th. Royal Bank of Canada increased their price objective on Helmerich & Payne from $48.00 to $50.00 and gave the company a "sector perform" rating in a report on Friday, July 26th. Piper Sandler lowered their target price on Helmerich & Payne from $39.00 to $36.00 and set a "neutral" rating for the company in a research report on Monday, July 15th. Bank of America reduced their price target on Helmerich & Payne from $42.50 to $40.00 and set a "buy" rating on the stock in a research report on Monday, July 15th. Finally, The Goldman Sachs Group decreased their price target on Helmerich & Payne from $38.00 to $34.00 and set a "sell" rating for the company in a research note on Thursday, August 29th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Helmerich & Payne presently has a consensus rating of "Hold" and an average price target of $40.88.

Helmerich & Payne Trading Up 2.1 %

Shares of NYSE:HP traded up $0.67 during midday trading on Wednesday, hitting $32.25. 1,540,285 shares of the stock were exchanged, compared to its average volume of 1,373,232. The business's 50-day moving average price is $33.38 and its 200 day moving average price is $36.72. Helmerich & Payne has a 12 month low of $29.46 and a 12 month high of $44.80. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.87 and a current ratio of 2.12. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 9.21, a P/E/G ratio of 3.62 and a beta of 1.42.

Helmerich & Payne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $0.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a yield of 3.10%. Helmerich & Payne's payout ratio is currently 28.57%.

Hedge Funds Weigh In On Helmerich & Payne

Several institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new position in shares of Helmerich & Payne during the 1st quarter worth about $33,000. Hexagon Capital Partners LLC grew its stake in Helmerich & Payne by 514.4% in the first quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company's stock valued at $40,000 after acquiring an additional 787 shares during the period. Covestor Ltd increased its holdings in shares of Helmerich & Payne by 253.4% during the first quarter. Covestor Ltd now owns 940 shares of the oil and gas company's stock valued at $40,000 after acquiring an additional 674 shares in the last quarter. Whittier Trust Co. raised its position in shares of Helmerich & Payne by 94.9% during 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. Finally, Creekmur Asset Management LLC acquired a new position in shares of Helmerich & Payne during the fourth quarter worth approximately $60,000. 96.05% of the stock is owned by institutional investors and hedge funds.

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.