Helmerich & Payne, Inc. (NYSE:HP) announced a quarterly dividend on Thursday, September 7th, Zacks reports. Investors of record on Monday, November 13th will be paid a dividend of 0.70 per share by the oil and gas company on Friday, December 1st. This represents a $2.80 annualized dividend and a yield of 6.08%. The ex-dividend date of this dividend is Friday, November 10th.

Helmerich & Payne has increased its dividend by an average of 17.1% per year over the last three years and has increased its dividend every year for the last 44 years. Helmerich & Payne has a payout ratio of -210.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Helmerich & Payne to earn ($0.62) per share next year, which means the company may not be able to cover its $2.80 annual dividend with an expected future payout ratio of -451.6%.

Shares of Helmerich & Payne (NYSE HP) opened at 46.04 on Friday. The stock’s market cap is $5.00 billion. The company’s 50-day moving average is $47.32 and its 200 day moving average is $57.30. Helmerich & Payne has a 52 week low of $42.16 and a 52 week high of $85.78.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.05. The business had revenue of $498.60 million during the quarter, compared to the consensus estimate of $452.42 million. Helmerich & Payne had a negative net margin of 11.19% and a negative return on equity of 3.37%. The company’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.20) earnings per share. Analysts forecast that Helmerich & Payne will post ($1.32) earnings per share for the current fiscal year.

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HP has been the subject of a number of recent research reports. Credit Suisse Group reiterated a “buy” rating and set a $19.00 price target on shares of Helmerich & Payne in a report on Wednesday, May 24th. Vetr upgraded shares of Helmerich & Payne from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Monday, July 10th. UBS AG reiterated a “buy” rating and set a $60.00 price target (down from $84.00) on shares of Helmerich & Payne in a report on Monday, July 31st. Jefferies Group LLC set a $54.00 price target on shares of Helmerich & Payne and gave the stock a “hold” rating in a report on Tuesday, June 6th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $14.00 price target on shares of Helmerich & Payne in a report on Monday, May 29th. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $55.52.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.

Dividend History for Helmerich & Payne (NYSE:HP)

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