Helmerich & Payne (HP) Declares $0.25 Dividend


Helmerich & Payne said on September 6, 2023 that its board of directors declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Previously, the company paid $0.24 per share.

Shares must be purchased before the ex-div date of November 17, 2023 to qualify for the dividend. Shareholders of record as of November 20, 2023 will receive the payment on December 4, 2023.

At the current share price of $45.23 / share, the stock’s dividend yield is 2.21%.

Looking back five years and taking a sample every week, the average dividend yield has been 4.69%, the lowest has been 1.89%, and the highest has been 20.10%. The standard deviation of yields is 2.83 (n=236).

The current dividend yield is 0.88 standard deviations below the historical average.

Additionally, the company’s dividend payout ratio is 0.42. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is 0.71%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 725 funds or institutions reporting positions in Helmerich & Payne. This is a decrease of 84 owner(s) or 10.38% in the last quarter. Average portfolio weight of all funds dedicated to HP is 0.20%, a decrease of 10.58%. Total shares owned by institutions decreased in the last three months by 4.70% to 110,928K shares. The put/call ratio of HP is 0.46, indicating a bullish outlook.

Analyst Price Forecast Suggests 5.86% Upside

As of August 31, 2023, the average one-year price target for Helmerich & Payne is 47.88. The forecasts range from a low of 37.37 to a high of $58.80. The average price target represents an increase of 5.86% from its latest reported closing price of 45.23.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Helmerich & Payne is 3,112MM, an increase of 9.42%. The projected annual non-GAAP EPS is 4.48.

What are Other Shareholders Doing?

HP / Helmerich & Payne, Inc. Shares Held by Institutions

State Farm Mutual Automobile Insurance holds 8,257K shares representing 8.30% ownership of the company. No change in the last quarter.

IJR – iShares Core S&P Small-Cap ETF holds 7,189K shares representing 7.23% ownership of the company. In it’s prior filing, the firm reported owning 7,612K shares, representing a decrease of 5.88%. The firm decreased its portfolio allocation in HP by 9.30% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 2,942K shares representing 2.96% ownership of the company. In it’s prior filing, the firm reported owning 2,932K shares, representing an increase of 0.33%. The firm decreased its portfolio allocation in HP by 8.21% over the last quarter.

Earnest Partners holds 2,816K shares representing 2.83% ownership of the company. In it’s prior filing, the firm reported owning 556K shares, representing an increase of 80.25%. The firm increased its portfolio allocation in HP by 385.26% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 2,384K shares representing 2.40% ownership of the company. In it’s prior filing, the firm reported owning 2,461K shares, representing a decrease of 3.25%. The firm decreased its portfolio allocation in HP by 8.63% over the last quarter.

Helmerich & Payne Background Information
(This description is provided by the company.)

Founded in 1920, Helmerich & Payne, Inc. is committed to delivering industry leading 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. Through its subsidiaries, the Company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies.

Additional reading:

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Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



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