Zacks Research Weighs in on Helmerich & Payne, Inc.’s Q3 2024 Earnings (NYSE:HP)

Helmerich & Payne, Inc. (NYSE:HP) – Stock analysts at Zacks Research dropped their Q3 2024 earnings per share (EPS) estimates for Helmerich & Payne in a research report issued on Friday, May 3rd. Zacks Research analyst N. Choudhury now anticipates that the oil and gas company will post earnings per share of $0.76 for the quarter, down from their prior estimate of $0.85. The consensus estimate for Helmerich & Payne’s current full-year earnings is $3.56 per share. Zacks Research also issued estimates for Helmerich & Payne’s Q4 2024 earnings at $0.80 EPS, FY2024 earnings at $3.37 EPS and Q1 2026 earnings at $0.67 EPS.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.01). Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The company had revenue of $687.94 million during the quarter, compared to analyst estimates of $682.51 million. During the same quarter last year, the business earned $1.26 EPS. The firm’s revenue for the quarter was down 10.6% on a year-over-year basis.

Other equities analysts also recently issued reports about the company. Citigroup raised their price objective on Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Susquehanna cut their price target on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating for the company in a research note on Friday, April 26th. Barclays cut shares of Helmerich & Payne from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $44.00 to $40.00 in a research note on Wednesday, January 10th. Royal Bank of Canada lifted their target price on shares of Helmerich & Payne from $46.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. Finally, Piper Sandler lowered their price target on shares of Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Helmerich & Payne has an average rating of “Hold” and an average target price of $42.00.

Helmerich & Payne Price Performance

HP stock opened at $38.59 on Monday. The firm has a 50 day moving average of $40.78 and a 200-day moving average of $38.45. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 1.85 and a beta of 1.51. The company has a current ratio of 2.16, a quick ratio of 1.92 and a debt-to-equity ratio of 0.19. Helmerich & Payne has a 12-month low of $30.41 and a 12-month high of $46.55.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC raised its holdings in Helmerich & Payne by 53.2% in the first quarter. SG Americas Securities LLC now owns 19,714 shares of the oil and gas company’s stock valued at $829,000 after buying an additional 6,842 shares during the period. LSV Asset Management raised its stake in shares of Helmerich & Payne by 37.9% in the 1st quarter. LSV Asset Management now owns 784,139 shares of the oil and gas company’s stock valued at $32,981,000 after acquiring an additional 215,339 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Helmerich & Payne by 9.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 8,855 shares of the oil and gas company’s stock valued at $372,000 after acquiring an additional 734 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in Helmerich & Payne by 0.7% during the 1st quarter. Texas Permanent School Fund Corp now owns 86,492 shares of the oil and gas company’s stock worth $3,638,000 after purchasing an additional 601 shares during the period. Finally, Catalina Capital Group LLC boosted its position in Helmerich & Payne by 12.2% during the 1st quarter. Catalina Capital Group LLC now owns 9,896 shares of the oil and gas company’s stock worth $416,000 after purchasing an additional 1,078 shares during the period. 96.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Helmerich & Payne

In other news, SVP Cara M. Hair sold 9,910 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $40.22, for a total transaction of $398,580.20. Following the sale, the senior vice president now owns 137,764 shares in the company, valued at $5,540,868.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Mark W. Smith sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $40.49, for a total transaction of $647,840.00. Following the completion of the transaction, the chief financial officer now owns 144,870 shares of the company’s stock, valued at $5,865,786.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Cara M. Hair sold 9,910 shares of Helmerich & Payne stock in a transaction on Monday, April 29th. The shares were sold at an average price of $40.22, for a total transaction of $398,580.20. Following the completion of the transaction, the senior vice president now owns 137,764 shares in the company, valued at approximately $5,540,868.08. The disclosure for this sale can be found here. 4.38% of the stock is currently owned by insiders.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.68 annualized dividend and a yield of 4.35%. Helmerich & Payne’s payout ratio is currently 28.57%.

About Helmerich & Payne

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.