Why Is Helmerich & Payne’s Share Price Gaining Strength?
Helmerich & Payne (HP) is one of the leading contract drillers in the US. On March 21, HP was trading at $60.98. This is ~11% lower than its price one year previously.
The Market Vectors Oil Services ETF (OIH), an ETF tracking index of 25 OFS companies, has declined by 18% in the past one year. Oceaneering International (OII), HP’s smaller market cap peer, has decreased by 33% during the same period. WTI (West Texas Intermediate) crude oil price has declined by 13% during this period. HP makes up 5.5% of OIH.
In this series, we’ll analyze Helmerich & Payne’s top-line and bottom-line growth, free cash flow, dividend, and valuation multiples. Let’s start and take a closer look...
Source: Market Realist