Helmerich & Payne, Inc. (NYSE:HP) – Stock analysts at Jefferies Group boosted their Q4 2018 earnings estimates for Helmerich & Payne in a research note issued to investors on Thursday. Jefferies Group analyst B. Handler now expects that the oil and gas company will earn $0.04 per share for the quarter, up from their prior estimate of $0.02. Jefferies Group currently has a “Hold” rating and a $65.00 target price on the stock.
Several other analysts have also issued reports on the stock. Citigroup upgraded shares of Helmerich & Payne from a “sell” rating to a “neutral” rating in a research note on Thursday. Royal Bank of Canada set a $68.00 target price on shares of Helmerich & Payne and gave the stock a “hold” rating in a research note on Thursday, December 21st. Tudor Pickering upgraded shares of Helmerich & Payne from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. SunTrust Banks upped their target price on shares of Helmerich & Payne to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 6th. Finally, Zacks Investment Research lowered shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Monday, December 4th. Seven research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $55.67.
Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Thursday, November 16th. The oil and gas company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.05. The business had revenue of $532.30 million during 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%. Helmerich & Payne’s quarterly revenue was up 60.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.33) EPS.
Institutional investors have recently made changes to their positions in the company. Neuberger Berman Group LLC increased its position in shares of Helmerich & Payne by 664.5% in the third quarter. Neuberger Berman Group LLC now owns 716,399 shares of the oil and gas company’s stock worth $37,332,000 after purchasing an additional 622,696 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Helmerich & Payne by 49.5% in the third quarter. California Public Employees Retirement System now owns 366,038 shares of the oil and gas company’s stock worth $19,074,000 after purchasing an additional 121,138 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Helmerich & Payne in the third quarter worth approximately $241,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Helmerich & Payne by 17.0% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,961 shares of the oil and gas company’s stock worth $571,000 after purchasing an additional 1,590 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Helmerich & Payne in the third quarter worth approximately $329,000.
In other Helmerich & Payne news, Director Chapman Paula Marshall sold 2,555 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $57.80, for a total transaction of $147,679.00. Following the sale, the director now directly owns 12,525 shares of the company’s stock, valued at $723,945. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.90% of the stock is owned by corporate insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Monday, February 12th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.22%. The ex-dividend date is Friday, February 9th. Helmerich & Payne’s dividend payout ratio (DPR) is presently -233.33%.
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.
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