Helmerich & Payne, Inc. to Post FY2018 Earnings of ($0.69) Per Share, SunTrust Banks Forecasts (HP)
Helmerich & Payne, Inc. (NYSE:HP) – Equities researchers at SunTrust Banks issued their FY2018 earnings estimates for shares of Helmerich & Payne in a note issued to investors on Tuesday. SunTrust Banks analyst K. Sill expects that the oil and gas company will post earnings per share of ($0.69) for the year. SunTrust Banks has a “Sell” rating and a $37.00 price target on the stock.
Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.05. Helmerich & Payne had a negative net margin of 11.19% and a negative return on equity of 3.37%. The firm had revenue of $498.60 million for the quarter, compared to the consensus estimate of $452.42 million. During the same period in the prior year, the firm posted ($0.20) earnings per share. The company’s revenue for the quarter was up 36.0% on a year-over-year basis.
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A number of other equities research analysts also recently commented on the company. Sanford C. Bernstein reiterated an “outperform” rating and issued a $66.00 target price on shares of Helmerich & Payne in a research report on Wednesday, September 6th. Iberia Capital downgraded Helmerich & Payne from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $74.00 to $55.00 in a research note on Monday, July 31st. J P Morgan Chase & Co decreased their price objective on Helmerich & Payne from $44.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, September 12th. BidaskClub raised Helmerich & Payne from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, BMO Capital Markets lowered their target price on Helmerich & Payne from $54.00 to $40.00 and set an “underperform” rating for the company in a research report on Friday, July 14th. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $55.82.
Shares of Helmerich & Payne (NYSE:HP) traded up 1.20% during trading on Wednesday, reaching $50.62. 755,933 shares of the company traded hands. The company’s market capitalization is $5.50 billion. The company’s 50-day moving average price is $47.24 and its 200-day moving average price is $54.87. Helmerich & Payne has a 52 week low of $42.16 and a 52 week high of $85.78.
A number of institutional investors have recently made changes to their positions in the business. Mutual of America Capital Management LLC lifted its position in shares of Helmerich & Payne by 22.6% during the first quarter. Mutual of America Capital Management LLC now owns 14,359 shares of the oil and gas company’s stock valued at $956,000 after buying an additional 2,644 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Helmerich & Payne in the 1st quarter valued at about $172,000. Mason Street Advisors LLC boosted its holdings in shares of Helmerich & Payne by 1.4% in the 1st quarter. Mason Street Advisors LLC now owns 15,003 shares of the oil and gas company’s stock valued at $999,000 after buying an additional 205 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Helmerich & Payne by 8.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 21,428 shares of the oil and gas company’s stock valued at $1,424,000 after buying an additional 1,601 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Helmerich & Payne by 6.2% in the 1st quarter. Nordea Investment Management AB now owns 17,032 shares of the oil and gas company’s stock valued at $1,134,000 after buying an additional 998 shares in the last quarter.
In related news, CEO John W. Lindsay acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were bought at an average price of $47.73 per share, with a total value of $238,650.00. Following the completion of the transaction, the chief executive officer now directly owns 147,727 shares in the company, valued at $7,051,009.71. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.23% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, November 13th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date is Friday, November 10th. Helmerich & Payne’s dividend payout ratio (DPR) is currently -167.66%.
About Helmerich & Payne
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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