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

Helmerich & Payne, Inc. (NYSE:HP) announced a quarterly dividend on Wednesday, September 11th,Zacks Dividends reports. Shareholders of record on Monday, November 18th will be paid a dividend of 0.25 per share by the oil and gas company on Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Monday, November 18th.

Helmerich & Payne has decreased its dividend by an average of 19.5% per year over the last three years. Helmerich & Payne has a dividend payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Helmerich & Payne to earn $4.14 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 24.2%.

Helmerich & Payne Stock Down 0.3 %

Shares of NYSE:HP opened at $33.85 on Friday. The firm has a market capitalization of $3.34 billion, a P/E ratio of 9.84, a P/E/G ratio of 3.84 and a beta of 1.40. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.87 and a current ratio of 2.12. The stock has a 50 day moving average price of $33.48 and a 200-day moving average price of $35.17. Helmerich & Payne has a 52-week low of $29.46 and a 52-week high of $44.11.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HP. Evercore ISI upgraded Helmerich & Payne to a “strong-buy” rating in a report on Friday, July 26th. Barclays lowered their price target on shares of Helmerich & Payne from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Citigroup cut their price objective on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a report on Monday, August 5th. Finally, The Goldman Sachs Group cut their price target 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $39.00.

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.