Q3 2024 EPS Estimates for Helmerich & Payne, Inc. (NYSE:HP) Cut by Analyst

Helmerich & Payne, Inc. (NYSE:HP) – Equities research analysts at Atb Cap Markets dropped their Q3 2024 earnings estimates for shares of Helmerich & Payne in a report issued on Tuesday, April 30th. Atb Cap Markets analyst W. Syed now expects that the oil and gas company will post earnings per share of $0.76 for the quarter, down from their prior estimate of $0.86. The consensus estimate for Helmerich & Payne’s current full-year earnings is $3.57 per share. Atb Cap Markets also issued estimates for Helmerich & Payne’s Q4 2024 earnings at $0.78 EPS, Q1 2026 earnings at $1.26 EPS and FY2026 earnings at $4.84 EPS.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. The business had revenue of $687.94 million for the quarter, compared to the consensus estimate of $682.51 million. During the same period in the previous year, the business posted $1.26 earnings per share. Helmerich & Payne’s revenue was down 10.6% on a year-over-year basis.

Several other brokerages also recently issued reports on HP. Citigroup lifted their price target on shares of Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a report on Thursday, April 25th. Susquehanna cut their price target on shares of Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating for the company in a report on Friday, April 26th. Royal Bank of Canada raised their price objective on shares of Helmerich & Payne from $46.00 to $48.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 31st. Finally, Barclays cut shares of Helmerich & Payne from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $44.00 to $40.00 in a research report on Wednesday, January 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Helmerich & Payne presently has a consensus rating of “Hold” and an average price target of $42.63.

Helmerich & Payne Trading Down 2.8 %

Shares of HP stock opened at $38.22 on Thursday. Helmerich & Payne has a 12-month low of $30.41 and a 12-month high of $46.55. The company has a market capitalization of $3.77 billion, a P/E ratio of 10.92, a P/E/G ratio of 1.89 and a beta of 1.51. The firm has a 50-day moving average price of $40.79 and a 200 day moving average price of $38.63. The company has a quick ratio of 1.92, a current ratio of 2.16 and a debt-to-equity ratio of 0.19.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its position in shares of Helmerich & Payne by 13,372.8% in the third quarter. Victory Capital Management Inc. now owns 2,418,364 shares of the oil and gas company’s stock worth $101,958,000 after purchasing an additional 2,400,414 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Helmerich & Payne by 130.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,720,464 shares of the oil and gas company’s stock worth $98,535,000 after purchasing an additional 1,541,987 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Helmerich & Payne by 937.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 841,724 shares of the oil and gas company’s stock worth $30,487,000 after purchasing an additional 760,554 shares in the last quarter. ARGA Investment Management LP lifted its position in shares of Helmerich & Payne by 497.3% in the fourth quarter. ARGA Investment Management LP now owns 887,116 shares of the oil and gas company’s stock worth $32,131,000 after purchasing an additional 738,594 shares in the last quarter. Finally, LSV Asset Management lifted its position in shares of Helmerich & Payne by 11,750.0% in the fourth quarter. LSV Asset Management now owns 568,800 shares of the oil and gas company’s stock worth $20,602,000 after purchasing an additional 564,000 shares in the last quarter. Institutional investors own 96.05% of the company’s stock.

Insider Transactions at Helmerich & Payne

In related news, SVP Cara M. Hair sold 9,910 shares of Helmerich & Payne stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $40.22, for a total transaction of $398,580.20. Following the transaction, the senior vice president now owns 137,764 shares of the company’s stock, valued at approximately $5,540,868.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Cara M. Hair sold 9,910 shares of Helmerich & Payne stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $40.22, for a total transaction of $398,580.20. Following the transaction, the senior vice president now owns 137,764 shares of the company’s stock, valued at approximately $5,540,868.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark W. Smith sold 16,000 shares of Helmerich & Payne stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $40.49, for a total transaction of $647,840.00. Following the transaction, the chief financial officer now directly owns 144,870 shares in the company, valued at approximately $5,865,786.30. The disclosure for this sale can be found here. 4.38% of the stock is owned by corporate insiders.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Thursday, May 16th. Helmerich & Payne’s dividend payout ratio is 28.57%.

Helmerich & Payne Company Profile

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.