Zacks Research Analysts Boost Earnings Estimates for HP

Helmerich & Payne, Inc. (NYSE:HP) – Equities research analysts at Zacks Research raised their Q1 2028 earnings estimates for shares of Helmerich & Payne in a research note issued on Monday, September 14th. Zacks Research analyst Team now forecasts that the oil and gas company will post earnings of ($0.38) per share for the quarter, up from their previous estimate of ($0.39). The consensus estimate for Helmerich & Payne’s current full-year earnings is ($0.18) per share.

Other equities analysts also recently issued reports about the company. Royal Bank Of Canada upped their target price on Helmerich & Payne from $44.00 to $49.00 and gave the company a “sector perform” rating in a research report on Thursday, September 10th. Wall Street Zen upgraded Helmerich & Payne from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Barclays lifted their target price on Helmerich & Payne from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. The Goldman Sachs Group increased their price target on shares of Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Finally, Weiss Ratings cut shares of Helmerich & Payne from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, August 27th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Helmerich & Payne presently has an average rating of “Hold” and a consensus price target of $43.10.

Helmerich & Payne Trading Up 1.9%

NYSE:HP opened at $43.46 on Wednesday. The company has a market capitalization of $4.34 billion, a P/E ratio of -30.82 and a beta of 0.66. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 0.69. Helmerich & Payne has a 12 month low of $20.32 and a 12 month high of $48.17. The firm has a fifty day simple moving average of $39.31 and a 200-day simple moving average of $37.46.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $987.70 million. Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS.

Institutional Investors Weigh In On Helmerich & Payne

Several hedge funds have recently bought and sold shares of HP. BlackRock Inc. purchased a new position in shares of Helmerich & Payne during the 2nd quarter valued at approximately $513,336,000. Dimensional Fund Advisors LP boosted its holdings in Helmerich & Payne by 11.0% during the first quarter. Dimensional Fund Advisors LP now owns 5,735,765 shares of the oil and gas company’s stock worth $206,660,000 after buying an additional 570,500 shares in the last quarter. Encompass Capital Advisors LLC grew its position in Helmerich & Payne by 165.1% during the fourth quarter. Encompass Capital Advisors LLC now owns 2,081,644 shares of the oil and gas company’s stock valued at $59,702,000 after buying an additional 1,296,537 shares during the period. Fisher Asset Management LLC grew its position in Helmerich & Payne by 1.5% during the fourth quarter. Fisher Asset Management LLC now owns 1,731,208 shares of the oil and gas company’s stock valued at $49,651,000 after buying an additional 25,085 shares during the period. Finally, Bank of America Corp DE increased its holdings in Helmerich & Payne by 109.2% in the first quarter. Bank of America Corp DE now owns 1,676,169 shares of the oil and gas company’s stock valued at $60,392,000 after buying an additional 874,823 shares in the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Insider Activity

In related news, SVP Cara M. Hair sold 11,149 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $44.27, for a total transaction of $493,566.23. Following the sale, the senior vice president directly owned 136,095 shares of the company’s stock, valued at $6,024,925.65. This trade represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sara Momper sold 5,054 shares of Helmerich & Payne stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $44.28, for a total value of $223,791.12. Following the transaction, the chief accounting officer owned 16,958 shares of the company’s stock, valued at approximately $750,900.24. This represents a 22.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 110,673 shares of company stock valued at $4,864,590 in the last quarter. 4.40% of the stock is currently owned by company insiders.

About Helmerich & Payne

Helmerich & Payne, Inc is a contract drilling company that provides land and offshore drilling services to oil and gas exploration and production companies. The company operates drilling rigs and supplies related services used to drill, develop and maintain wells.

H&P’s offerings include its FlexRig fleet of high-performance land rigs, directional drilling, automated drilling technologies and rig management services. These capabilities are designed to support horizontal and other complex well programs, particularly in unconventional oil and natural gas basins.

Founded in 1920 by Walter Helmerich and William Payne, the company is headquartered in Tulsa, Oklahoma.