FY2024 Earnings Forecast for Helmerich & Payne, Inc. Issued By Zacks Research (NYSE:HP)

Helmerich & Payne, Inc. (NYSE:HP - Free Report) - Stock analysts at Zacks Research raised their FY2024 earnings estimates for shares of Helmerich & Payne in a research report issued to clients and investors on Tuesday, October 15th. Zacks Research analyst N. Choudhury now forecasts that the oil and gas company will post earnings of $3.49 per share for the year, up from their prior estimate of $3.48. 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 $0.76 EPS.

HP has been the topic of several other research reports. Citigroup cut their price objective on shares of Helmerich & Payne from $41.00 to $33.00 and set a "neutral" rating for the company in a research report on Friday, September 13th. Piper Sandler reduced their price target 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 lowered their price objective 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. Evercore ISI raised shares of Helmerich & Payne to a "strong-buy" rating in a report on Friday, July 26th. Finally, Royal Bank of Canada increased their price objective on shares of Helmerich & Payne from $48.00 to $50.00 and gave the stock a "sector perform" rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $40.75.

Helmerich & Payne Stock Performance

NYSE HP traded up $0.61 during trading hours on Wednesday, hitting $34.67. 956,264 shares of the company's stock traded hands, compared to its average volume of 1,384,806. Helmerich & Payne has a 52 week low of $29.46 and a 52 week high of $44.80. The firm has a market capitalization of $3.42 billion, a P/E ratio of 9.94, a P/E/G ratio of 3.80 and a beta of 1.42. The company has a current ratio of 2.12, a quick ratio of 1.87 and a debt-to-equity ratio of 0.19. The business's fifty day moving average price is $32.80 and its two-hundred day moving average price is $36.27.

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 EPS for the quarter, topping the consensus estimate of $0.77 by $0.15. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The company had revenue of $697.70 million during the quarter, compared to analyst estimates of $670.78 million. During the same quarter in the previous year, the company posted $1.09 earnings per share. Helmerich & Payne's revenue was down 3.6% compared to the same quarter last year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.00 annualized dividend and a dividend yield of 2.88%. Helmerich & Payne's dividend payout ratio (DPR) is 28.57%.

Institutional Trading of Helmerich & Payne

Several hedge funds have recently modified their holdings of the company. American Century Companies Inc. grew its position in Helmerich & Payne by 38.1% in the second quarter. American Century Companies Inc. now owns 1,862,362 shares of the oil and gas company's stock worth $67,306,000 after acquiring an additional 513,647 shares in the last quarter. ARGA Investment Management LP boosted its holdings in shares of Helmerich & Payne by 55.4% in the 1st quarter. ARGA Investment Management LP now owns 1,378,705 shares of the oil and gas company's stock worth $57,988,000 after purchasing an additional 491,589 shares during the period. Earnest Partners LLC increased its position in shares of Helmerich & Payne by 15.7% during the 2nd quarter. Earnest Partners LLC now owns 3,469,609 shares of the oil and gas company's stock valued at $125,392,000 after purchasing an additional 471,420 shares during the last quarter. LSV Asset Management increased its position in shares of Helmerich & Payne by 51.7% during the 2nd quarter. LSV Asset Management now owns 1,189,318 shares of the oil and gas company's stock valued at $42,982,000 after purchasing an additional 405,179 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in Helmerich & Payne by 9.4% during the 2nd quarter. Pacer Advisors Inc. now owns 3,826,851 shares of the oil and gas company's stock valued at $138,302,000 after buying an additional 327,802 shares during the period. 96.05% of the stock is owned by hedge funds and other institutional investors.

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.