Helmerich & Payne, Inc. (HP) to Issue Quarterly Dividend of $0.25 on February 28th

Helmerich & Payne, Inc. (NYSE:HP) declared a quarterly dividend on Friday, December 13th,Wall Street Journal reports. Stockholders of record on Friday, February 14th will be paid a dividend of 0.25 per share by the oil and gas company on Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Friday, February 14th.

Helmerich & Payne has decreased its dividend by an average of 19.5% annually over the last three years. Helmerich & Payne has a dividend payout ratio of 31.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Helmerich & Payne to earn $3.65 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 27.4%.

Helmerich & Payne Trading Down 0.7 %

Helmerich & Payne stock opened at $33.59 on Friday. The stock has a 50-day moving average price of $34.65 and a 200 day moving average price of $34.61. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 4.21 and a beta of 1.39. Helmerich & Payne has a 52 week low of $29.46 and a 52 week high of $44.11. The company has a quick ratio of 2.40, a current ratio of 2.67 and a debt-to-equity ratio of 0.61.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. The business had revenue of $693.79 million during the quarter, compared to analysts’ expectations of $695.99 million. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 EPS. Sell-side analysts anticipate that Helmerich & Payne will post 3.12 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on HP. Barclays cut their price target on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 20th. Royal Bank of Canada reduced their price target on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a research report on Friday, November 15th. The Goldman Sachs Group lowered their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research report on Thursday, August 29th. Citigroup cut their target price on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Finally, Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $38.57.

Helmerich & Payne Company Profile

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.