Helmerich & Payne (HP) : Fridays money flow data in Helmerich & Payne (HP) suggests that the bulls made the most of the weakness in the stock. The inflow of money into the stock on upticks was $19.08 million, whereas, $13.81 million worth of transactions were done on downticks. The ratio between the two, uptick and downtick stood at 1.38, in favor of the bulls. The total money flow into the stock was $5.27 million clearly indicating that the smart money has been buying into the stock on weakness.
In comparison, the money flow in block deals was $4.83 million. The total value of block trades done on upticks was $7.48 million. The value of bearish trades on downticks was only $2.65 million.The up/down ratio in the block trades was a healthy 2.82 in favor of the bulls, suggesting strong buying in the stock by large traders. Helmerich & Payne (HP) fell $0.1 and traded at $64, down -0.16% for the day, over previous days close. On a weekly basis, the shares are -6.87% over the previous weeks close.
Helmerich & Payne (HP) : The highest level Helmerich & Payne (HP) is projected to reach is $80 for the short term and the lowest estimate is at $40. The consolidated price target from 18 rating analysts who initiate coverage on the stock is $60.33 and the possibility the share price can swing is $12.23.
Helmerich & Payne (NYSE:HP): stock turned positive on Friday. Though the stock opened at $64.51, the bulls momentum made the stock top out at $64.96 level for the day. The stock recorded a low of $63.37 and closed the trading day at $64.87, in the green by 1.20%. The total traded volume for the day was 1,981,333. The stock had closed at $64.1 in the previous days trading.
In a related news, The Securities and Exchange Commission has divulged that Lindsay John W, director officer (President & CEO) of Helmerich & Payne, Inc., had unloaded 19,000 shares at an average price of $67.37 in a transaction dated on June 9, 2016. The total value of the transaction was worth $1,280,030.
Helmerich & Payne, Inc. is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Companys contract drilling business consists of three business segments: U.S. Land, Offshore and International Land. Its U.S. Land segment operates drilling operations in Oklahoma, California, Texas, Wyoming, Colorado, Louisiana, Mississippi, Pennsylvania, Ohio, Utah, New Mexico, Montana, North Dakota, West Virginia and Nevada. Its offshore operations are conducted in the Gulf of Mexico and Equatorial Guinea. Its International Land segment operates in seven international locations, including Ecuador, Colombia, Argentina, Tunisia, Bahrain, the United Arab Emirates and Mozambique. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.