Helmerich & Payne, Inc. Announces Fourth Quarter & Fiscal Year End Results
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November 17, 2017 8:02 AM EST
Jefferies raised its price target on Helmerich & Payne (NYSE: HP) to $58.00 (from $50.00) while maintaining a Hold rating.
Analyst Brad Handler said pervasive negativity around HP is in contrast to its advantaged competitive position, clean B/S, improving cash flow profile and sustainable 5.1%... More
November 16, 2017 6:02 AM EST
Helmerich Payne (NYSE: HP) reported Q4 EPS of ($0.14), ex-items, $0.05 better than the analyst estimate of ($0.19). Revenue for the quarter came in at $532.3 million versus the consensus estimate of $491.66 million.
President and CEO John Lindsay commented, Fiscal 2017 witnessed the largest ramp up of U.S. land rig activity in the Companys history, which more than doubled even in the face of oil price uncertainty and volatility. We began the year with 95 rigs running in U.S. land and closed the year with 197 rigs after reactivating 102 FlexRigs while upgrading 91 of those to super-spec capacity.... More
