Helmerich & Payne (HP) has been under a strong bear grip, hence the stock is down -0.57% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.89% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.42% in the last 1 week, and is up 3.78% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 3.41% and the 50-Day Moving Average is 8.84%.
Helmerich & Payne (NYSE:HP): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $68.99 and $68.36 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $69.97. The buying momentum continued till the end and the stock did not give up its gains. It closed at $68.72, notching a gain of 0.51% for the day. The total traded volume was 1,576,502 . The stock had closed at $68.37 on the previous day.
The company Insiders own 4.23% of Helmerich & Payne shares according to the proxy statements. During last six month period, the net percent change held by insiders has seen a change of -34.66%. 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.