Helmerich & Payne, Inc. (HP) Expected to Post Q4 2017 Earnings of ($0.21) Per Share
Helmerich & Payne, Inc. (NYSE:HP) – Equities research analysts at SunTrust Banks issued their Q4 2017 earnings estimates for Helmerich & Payne in a report issued on Tuesday. SunTrust Banks analyst K. Sill anticipates that the oil and gas company will earn ($0.21) per share for the quarter. SunTrust Banks has a “Sell” rating and a $37.00 price objective on the stock. SunTrust Banks also issued estimates for Helmerich & Payne’s Q1 2018 earnings at ($0.21) EPS, Q2 2018 earnings at ($0.26) EPS, Q3 2018 earnings at ($0.23) EPS, Q4 2018 earnings at ($0.16) EPS and Q1 2019 earnings at ($0.04) EPS.
Several other brokerages also recently commented on HP. Royal Bank Of Canada reissued a “hold” rating and issued a $65.00 price target on shares of Helmerich & Payne in a report on Thursday, July 20th. BidaskClub raised shares of Helmerich & Payne from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Zacks Investment Research downgraded shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. BMO Capital Markets cut their price target on shares of Helmerich & Payne from $54.00 to $40.00 and set an “underperform” rating for the company in a report on Friday, July 14th. Finally, Bank of America Corporation downgraded shares of Helmerich & Payne from a “buy” rating to a “neutral” rating and cut their price target for the company from $71.00 to $55.00 in a report on Friday, June 30th. Nine research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $54.90.
Shares of Helmerich & Payne (NYSE:HP) opened at 51.14 on Thursday. The firm’s 50-day moving average price is $47.40 and its 200 day moving average price is $54.84. The company’s market capitalization is $5.55 billion. Helmerich & Payne has a 1-year low of $42.16 and a 1-year high of $85.78.
Helmerich & Payne (NYSE:HP) last released its earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.05. Helmerich & Payne had a negative return on equity of 3.37% and a negative net margin of 11.19%. The firm had revenue of $498.60 million during the quarter, compared to analysts’ expectations of $452.42 million. During the same period in the prior year, the company earned ($0.20) earnings per share. The company’s quarterly revenue was up 36.0% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, November 13th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date of this dividend is Friday, November 10th. Helmerich & Payne’s dividend payout ratio is currently -167.66%.
In related news, CEO John W. Lindsay acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was bought at an average cost of $47.73 per share, with a total value of $238,650.00. Following the acquisition, the chief executive officer now owns 147,727 shares of the company’s stock, valued at approximately $7,051,009.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of HP. Mutual of America Capital Management LLC raised its position in Helmerich & Payne by 22.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 14,359 shares of the oil and gas company’s stock worth $956,000 after purchasing an additional 2,644 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Helmerich & Payne in the 1st quarter worth $172,000. Mason Street Advisors LLC raised its position in Helmerich & Payne by 1.4% in the 1st quarter. Mason Street Advisors LLC now owns 15,003 shares of the oil and gas company’s stock worth $999,000 after purchasing an additional 205 shares during the period. Envestnet Asset Management Inc. raised its position in Helmerich & Payne by 8.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 21,428 shares of the oil and gas company’s stock worth $1,424,000 after purchasing an additional 1,601 shares during the period. Finally, Nordea Investment Management AB raised its position in Helmerich & Payne by 6.2% in the 1st quarter. Nordea Investment Management AB now owns 17,032 shares of the oil and gas company’s stock worth $1,134,000 after purchasing an additional 998 shares during the period.
About Helmerich & Payne
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.
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