Wall Street analysts expect that Helmerich & Payne, Inc. (NYSE:HP) will announce sales of $675.14 million for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Helmerich & Payne’s earnings. The lowest sales estimate is $645.50 million and the highest is $685.00 million. Helmerich & Payne posted sales of $532.30 million in the same quarter last year, which suggests a positive year-over-year growth rate of 26.8%. The business is scheduled to issue its next earnings report on Thursday, November 15th.
On average, analysts expect that Helmerich & Payne will report full-year sales of $2.46 billion for the current fiscal year, with estimates ranging from $2.40 billion to $2.48 billion. For the next financial year, analysts anticipate that the company will post sales of $2.77 billion per share, with estimates ranging from $2.64 billion to $2.91 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Helmerich & Payne.
Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Wednesday, July 25th. The oil and gas company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The firm had revenue of $648.87 million for the quarter, compared to the consensus estimate of $617.06 million. Helmerich & Payne had a net margin of 19.70% and a negative return on equity of 0.37%. The firm’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.25) earnings per share.
A number of analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of Helmerich & Payne from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. Cowen set a $57.00 price objective on shares of Helmerich & Payne and gave the company a “hold” rating in a research note on Monday, July 30th. ValuEngine upgraded shares of Helmerich & Payne from a “hold” rating to a “buy” rating in a research note on Monday, July 30th. Stephens upgraded shares of Helmerich & Payne from an “equal weight” rating to an “overweight” rating and set a $67.00 price target for the company in a research note on Monday, July 30th. Finally, Piper Jaffray Companies set a $67.00 price target on shares of Helmerich & Payne and gave the stock a “hold” rating in a research note on Sunday, July 29th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $65.87.
NYSE:HP opened at $64.75 on Friday. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of -50.98 and a beta of 1.39. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.97 and a quick ratio of 2.57. Helmerich & Payne has a fifty-two week low of $48.88 and a fifty-two week high of $75.02.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 12th will be paid a $0.71 dividend. The ex-dividend date is Thursday, November 8th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.39%. Helmerich & Payne’s dividend payout ratio is presently -223.62%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Summit Trail Advisors LLC boosted its holdings in shares of Helmerich & Payne by 8,098.5% in the first quarter. Summit Trail Advisors LLC now owns 109,368 shares of the oil and gas company’s stock worth $109,000 after buying an additional 108,034 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in shares of Helmerich & Payne in the second quarter worth approximately $134,000. AdvisorNet Financial Inc purchased a new position in shares of Helmerich & Payne in the first quarter worth approximately $157,000. Viking Fund Management LLC purchased a new position in shares of Helmerich & Payne in the second quarter worth approximately $159,000. Finally, Rampart Investment Management Company LLC boosted its holdings in shares of Helmerich & Payne by 84.3% in the first quarter. Rampart Investment Management Company LLC now owns 2,453 shares of the oil and gas company’s stock worth $163,000 after buying an additional 1,122 shares during the last quarter. 92.01% of the stock is currently owned by institutional investors.
About Helmerich & Payne
Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.
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