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.
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.
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