Jefferies Group Weighs in on Helmerich & Payne, Inc.’s Q4 2018 Earnings (HP)

Helmerich & Payne, Inc. (NYSE:HP) – Jefferies Group raised their Q4 2018 EPS estimates for Helmerich & Payne in a report released on Thursday. Jefferies Group analyst B. Handler now forecasts that the oil and gas company will post earnings of $0.07 per share for the quarter, up from their previous forecast of $0.04. Jefferies Group currently has a “Hold” rating and a $69.00 target price on the stock.

Several other research firms also recently weighed in on HP. Cowen reiterated a “market perform” rating and set a $60.00 target price (up from $50.00) on shares of Helmerich & Payne in a research report on Friday. Zacks Investment Research downgraded Helmerich & Payne from a “hold” rating to a “sell” rating in a research report on Monday, January 22nd. UBS Group downgraded Helmerich & Payne from a “buy” rating to a “hold” rating and set a $70.00 target price on the stock. in a research report on Friday, January 12th. Stephens initiated coverage on Helmerich & Payne in a research report on Tuesday, January 9th. They set an “equal weight” rating and a $67.00 target price on the stock. Finally, Citigroup upgraded Helmerich & Payne from a “sell” rating to a “neutral” rating in a report on Thursday, January 4th. Eight investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $55.63.

Shares of Helmerich & Payne (NYSE HP) opened at $74.09 on Monday. The company has a current ratio of 3.28, a quick ratio of 3.19 and a debt-to-equity ratio of 0.11. Helmerich & Payne has a 12-month low of $42.16 and a 12-month high of $75.10.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Thursday, January 25th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.14. Helmerich & Payne had a negative return on equity of 1.90% and a net margin of 20.30%. The business had revenue of $564.10 million for the quarter, compared to the consensus estimate of $547.64 million. During the same period in the prior year, the business earned ($0.33) earnings per share. The business’s revenue was up 53.0% on a year-over-year basis.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Helmerich & Payne by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 10,714,896 shares of the oil and gas company’s stock worth $582,248,000 after purchasing an additional 205,883 shares during the last quarter. Capital International Investors lifted its holdings in shares of Helmerich & Payne by 37.2% in the 3rd quarter. Capital International Investors now owns 8,026,854 shares of the oil and gas company’s stock worth $418,279,000 after purchasing an additional 2,177,139 shares during the last quarter. State Street Corp lifted its holdings in shares of Helmerich & Payne by 2.7% in the 2nd quarter. State Street Corp now owns 6,457,523 shares of the oil and gas company’s stock worth $350,901,000 after purchasing an additional 172,819 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Helmerich & Payne by 8.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,515,807 shares of the oil and gas company’s stock worth $183,208,000 after purchasing an additional 265,249 shares during the last quarter. Finally, Prudential PLC lifted its holdings in shares of Helmerich & Payne by 64.8% in the 2nd quarter. Prudential PLC now owns 2,487,853 shares of the oil and gas company’s stock worth $135,190,000 after purchasing an additional 977,825 shares during the last quarter.

In other Helmerich & Payne news, Director Chapman Paula Marshall sold 2,555 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $57.80, for a total transaction of $147,679.00. Following the transaction, the director now owns 12,525 shares of the company’s stock, valued at approximately $723,945. The transaction was disclosed in a document filed with the SEC, which is available at this link. 4.10% of the stock is owned by company 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 paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, February 9th. This represents a $2.80 dividend on an annualized basis and a yield of 3.78%. Helmerich & Payne’s dividend payout ratio (DPR) is presently 76.09%.

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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.

Earnings History and Estimates for Helmerich & Payne (NYSE:HP)

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