Helmerich & Payne, Inc. Announces Quarterly Dividend of $0.70 (HP)
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.
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.
Receive News & Ratings for Helmerich & Payne Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Helmerich & Payne Inc. and related companies with MarketBeat.com's FREE daily email newsletter.