Helmerich & Payne, Inc. (NYSE:HP) announced a quarterly dividend on Thursday, December 7th, Wall Street Journal reports. Shareholders of record on Monday, February 12th will be paid a dividend of 0.70 per share by the oil and gas company on Thursday, March 1st. This represents a $2.80 annualized dividend and a dividend yield of 4.96%. The ex-dividend date is Friday, February 9th.

Helmerich & Payne has increased its dividend payment by an average of 17.1% per year over the last three years and has raised its dividend annually for the last 44 consecutive years. Helmerich & Payne has a dividend payout ratio of -595.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Helmerich & Payne to earn $0.19 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 1,473.7%.

Shares of Helmerich & Payne (HP) traded down $1.37 during midday trading on Thursday, hitting $56.47. 1,451,400 shares of the company’s stock traded hands, compared to its average volume of 1,842,792. Helmerich & Payne has a 52 week low of $42.16 and a 52 week high of $85.78. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.19 and a current ratio of 3.59.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Thursday, November 16th. The oil and gas company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.05. The company had revenue of $532.30 million for the quarter, compared to analyst estimates of $493.78 million. Helmerich & Payne had a negative net margin of 7.16% and a negative return on equity of 2.96%. The business’s revenue was up 60.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.33) EPS. analysts forecast that Helmerich & Payne will post -0.46 EPS for the current year.

In other news, CEO John W. Lindsay bought 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was acquired at an average price of $47.73 per share, for a total transaction of $238,650.00. Following the acquisition, the chief executive officer now owns 147,727 shares of the company’s stock, valued at $7,051,009.71. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 3.90% of the stock is currently owned by insiders.

HP has been the subject of several research reports. Cowen reaffirmed a “hold” rating and set a $50.00 price target on shares of Helmerich & Payne in a research note on Friday, August 11th. Societe Generale initiated coverage on Helmerich & Payne in a research note on Thursday, August 31st. They set a “hold” rating and a $46.00 price target for the company. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $66.00 price target on shares of Helmerich & Payne in a research note on Wednesday, September 6th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $53.00 price target (down previously from $65.00) on shares of Helmerich & Payne in a research note on Friday, September 8th. Finally, J P Morgan Chase & Co cut their target price on shares of Helmerich & Payne from $44.00 to $38.00 and set an “underweight” rating for the company in a research note on Tuesday, September 12th. Eight research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the stock. Helmerich & Payne currently has a consensus rating of “Hold” and a consensus target price of $54.92.

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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.

Dividend History for Helmerich & Payne (NYSE:HP)

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