Helmerich & Payne, Inc. (NYSE:HP) to Issue $0.25 Quarterly Dividend

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 given a dividend of 0.25 per share by the oil and gas company on Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Monday, November 18th.

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 28.0% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE:HP opened at $33.85 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.67 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $3.34 billion, a PE ratio of 9.84, a price-to-earnings-growth ratio of 3.59 and a beta of 1.40. The firm’s 50 day moving average price is $33.48 and its 200-day moving average price is $35.14. Helmerich & Payne has a twelve month low of $29.46 and a twelve month high of $44.11.

Analyst Ratings Changes

Several research analysts have weighed in on HP shares. Royal Bank of Canada decreased their price target on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Friday. The Goldman Sachs Group decreased their target price on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. Citigroup cut their price target on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Barclays decreased their price objective on Helmerich & Payne from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 16th. Finally, Evercore ISI upgraded Helmerich & Payne to a “strong-buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $39.00.

About Helmerich & Payne

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.