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

Helmerich & Payne, Inc. (NYSE:HP) announced a quarterly dividend on Wednesday, December 11th,Wall Street Journal reports. Investors of record on Friday, February 14th will be paid a dividend of 0.25 per share by the oil and gas company on Friday, February 28th. This represents a $1.00 annualized dividend and a yield of 3.66%. The ex-dividend date is Friday, February 14th.

Helmerich & Payne has a payout ratio of 27.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Helmerich & Payne to earn $3.43 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 29.2%.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $27.30 on Wednesday. The business’s 50 day simple moving average is $32.80 and its 200 day simple moving average is $33.49. Helmerich & Payne has a one year low of $26.61 and a one year high of $44.11. The stock has a market capitalization of $2.71 billion, a PE ratio of 8.98, a PEG ratio of 3.41 and a beta of 1.37. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.40.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts forecast that Helmerich & Payne will post 3.11 earnings per share for the current year.

Insider Transactions at Helmerich & Payne

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Barclays dropped their price target on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 20th. Royal Bank of Canada dropped their price target on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Evercore ISI reissued an “in-line” rating and issued a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Citigroup raised Helmerich & Payne from a “neutral” rating to a “buy” rating and boosted their price target for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Finally, Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Helmerich & Payne presently has an average rating of “Hold” and a consensus price target of $38.75.

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.