Helmerich & Payne, Inc. Announces Quarterly Dividend of $0.25 (NYSE:HP)

Helmerich & Payne, Inc. (NYSE:HP) announced 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 of this dividend 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 32.1% meaning 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 Stock Down 0.7 %

Helmerich & Payne stock traded down $0.24 during midday trading on Friday, reaching $33.59. The stock had a trading volume of 936,845 shares, compared to its average volume of 1,376,366. The stock has a market capitalization of $3.32 billion, a P/E ratio of 9.76, a price-to-earnings-growth ratio of 4.21 and a beta of 1.39. The firm’s fifty day simple moving average is $34.65 and its 200-day simple moving average is $34.63. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.40 and a current ratio of 2.67. Helmerich & Payne has a 1-year low of $29.46 and a 1-year high of $44.11.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.76. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The company had revenue of $693.79 million for the quarter, compared to the consensus estimate of $695.99 million. During the same period last year, the company earned $0.69 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, analysts expect that Helmerich & Payne will post 3.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HP. Citigroup dropped their target price on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. The Goldman Sachs Group dropped their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Barclays dropped their price target on shares of 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. Finally, Royal Bank of Canada decreased their price objective on shares of 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.