Helmerich & Payne, Inc. (NYSE:HP) announced a quarterly dividend on Thursday, September 7th, Zacks reports. Investors of record on Monday, November 13th will be given a dividend of 0.70 per share by the oil and gas company on Friday, December 1st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend is Friday, November 10th.
Helmerich & Payne has increased its dividend payment by an average of 17.1% per year over the last three years and has increased its dividend annually for the last 44 consecutive years. Helmerich & Payne has a dividend payout ratio of -210.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Helmerich & Payne to earn ($0.63) per share next year, which means the company may not be able to cover its $2.80 annual dividend with an expected future payout ratio of -444.4%.
Helmerich & Payne (NYSE HP) opened at $56.38 on Tuesday. Helmerich & Payne has a 1-year low of $42.16 and a 1-year high of $85.78. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.74 and a quick ratio of 3.33.
In related news, CEO John W. Lindsay purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were purchased at an average cost of $47.73 per share, for a total transaction of $238,650.00. Following the completion of the acquisition, the chief executive officer now owns 147,727 shares in the company, valued at approximately $7,051,009.71. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.23% of the company’s stock.
Several research analysts have recently commented on HP shares. B. Riley reaffirmed a “neutral” rating on shares of Helmerich & Payne in a report on Wednesday, November 1st. Cowen and Company reissued a “hold” rating and issued a $50.00 price objective on shares of Helmerich & Payne in a research note on Friday, August 11th. SunTrust Banks, Inc. reaffirmed a “sell” rating and set a $37.00 target price (down previously from $66.00) on shares of Helmerich & Payne in a research note on Tuesday, October 3rd. UBS AG reiterated a “buy” rating and set a $60.00 price objective (down previously from $84.00) on shares of Helmerich & Payne in a report on Monday, July 31st. Finally, Citigroup Inc. lowered shares of Helmerich & Payne from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $58.00 to $43.00 in a report on Friday, July 28th. Nine equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $54.27.
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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