Stock Worth Watching: Is Buying 52-Week Stock Like Helmerich & Payne, Inc. a Winning Strategy?

Stock Worth Watching: Is Buying 52 Week Stock Like Helmerich & Payne, Inc. a Winning Strategy?

The stock of Helmerich & Payne, Inc. (NYSE:HP) hit a new 52-week high and has $78.06 target or 8.00% above today’s $72.28 share price. The 7 months bullish chart indicates low risk for the $7.72B company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $78.06 price target is reached, the company will be worth $617.60 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 811,900 shares traded hands. Helmerich & Payne, Inc. (NYSE:HP) has risen 4.03% since April 27, 2016 and is uptrending. It has underperformed by 1.19% the S&P500.

Analysts await Helmerich & Payne, Inc. (NYSE:HP) to report earnings on January, 26. They expect $-0.39 EPS, down 880.00% or $0.44 from last year’s $0.05 per share. After $-0.33 actual EPS reported by Helmerich & Payne, Inc. for the previous quarter, Wall Street now forecasts 18.18% negative EPS growth.

Helmerich & Payne, Inc. (NYSE:HP) Ratings Coverage

Out of 25 analysts covering Helmerich & Payne (NYSE:HP), 8 rate it a “Buy”, 4 “Sell”, while 13 “Hold”. This means 32% are positive. $80 is the highest target while $40 is the lowest. The $59.16 average target is -18.15% below today’s ($72.28) stock price. Helmerich & Payne has been the topic of 66 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The firm earned “Underperform” rating on Friday, September 4 by BMO Capital Markets. Nomura maintained Helmerich & Payne, Inc. (NYSE:HP) on Tuesday, May 3 with “Buy” rating. JP Morgan upgraded Helmerich & Payne, Inc. (NYSE:HP) on Wednesday, August 26 to “Underweight” rating. Citigroup upgraded the stock to “Neutral” rating in Friday, December 11 report. The rating was maintained by Citigroup on Friday, August 14 with “Sell”. The rating was downgraded by Iberia Capital Partners on Monday, September 21 to “Sector Perform”. The rating was downgraded by Macquarie Research on Friday, January 8 to “Underperform”. As per Wednesday, September 9, the company rating was maintained by Macquarie Research. The rating was maintained by Susquehanna on Wednesday, March 9 with “Neutral”. Stephens upgraded Helmerich & Payne, Inc. (NYSE:HP) on Friday, August 28 to “Overweight” rating.

According to Zacks Investment Research, “Helmerich & Payne, Inc. is primarily engaged in the exploration, production, and sale of crude oil and natural gas and in contract drilling of oil and gas wells for others. These activities account for the major portion of its operating revenues. The company is also engaged in the ownership, development, and operation of commercial real estate.”

Insitutional Activity: The institutional sentiment increased to 1.25 in 2016 Q2. Its up 0.12, from 1.13 in 2016Q1. The ratio increased, as 54 funds sold all Helmerich & Payne, Inc. shares owned while 146 reduced positions. 65 funds bought stakes while 161 increased positions. They now own 114.29 million shares or 3.86% less from 118.88 million shares in 2016Q1.
Utah Retirement holds 0.03% or 17,699 shares in its portfolio. The California-based Wells Fargo Mn has invested 0.01% in Helmerich & Payne, Inc. (NYSE:HP). Essex Invest Mgmt Lc has invested 0.04% of its portfolio in Helmerich & Payne, Inc. (NYSE:HP). Murphy Mngmt Incorporated holds 0.05% or 4,900 shares in its portfolio. Old Natl State Bank In last reported 0.02% of its portfolio in the stock. Sumitomo Mitsui Asset Mgmt Communications Ltd holds 8,575 shares or 0.02% of its portfolio. Apg Asset Nv reported 109,005 shares or 0.01% of all its holdings. Newfocus Fincl Gp Limited Liability Com has 1.2% invested in the company for 24,287 shares. The Massachusetts-based Welch And Forbes Limited Liability Corp has invested 0.01% in Helmerich & Payne, Inc. (NYSE:HP). Pnc Fincl Gp Incorporated reported 82,619 shares or 0.01% of all its holdings. Meag Munich Ergo Kapitalanlagegesellschaft Mbh reported 66,452 shares or 0.4% of all its holdings. Schroder Investment Mngmt Grp Inc has invested 0.08% of its portfolio in Helmerich & Payne, Inc. (NYSE:HP). Prudential Inc has 0.02% invested in the company for 180,812 shares. Exxonmobil Invest Management Tx has 0.04% invested in the company for 27,966 shares. Vident Investment Advisory Limited Liability Com owns 41,302 shares or 0.39% of their US portfolio.

Insider Transactions: Since June 9, 2016, the stock had 0 insider purchases, and 3 insider sales for $2.89 million net activity. $1.01M worth of shares were sold by LINDSAY JOHN W on Friday, September 30. Bell John R. also sold $597,119 worth of Helmerich & Payne, Inc. (NYSE:HP) shares.

Another recent and important Helmerich & Payne, Inc. (NYSE:HP) news was published by Globenewswire.com which published an article titled: “Helmerich & Payne, Inc. Announces Fiscal Year-End Results” on November 17, 2016.

HP Company Profile

Helmerich & Payne, Inc., incorporated on February 29, 1944, is engaged in contract drilling of gas and oil wells for others. The Firm operates in the contract drilling industry. The Company’s contract drilling business consists of three divisions: U.S. Land, Offshore and International Land. The Firm is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology. The Company’s real estate investments are located within Tulsa, Oklahoma, and include a shopping center containing approximately 441,000 leasable square feet, multi-tenant industrial warehouse properties containing approximately one million leasable square feet and approximately 210 acres of undeveloped real estate. The Company’s subsidiaries include Helmerich & Payne International Drilling Co. and Helmerich & Payne de Venezuela, C.A.

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