Downgrade Alert for Helmerich & Payne (HP)
Helmerich & Payne (NYSE:HP) was downgraded from Buy to Hold at Argus Research today. The stock closed yesterday at $57.77 on volume of 1.3 million shares, below average daily volume of 2.2 million.
Helmerich & Payne share prices have moved between a 52-week high of $79.90 and a 52-week low of $40.02 and closed yesterday at 44% above that low price at $57.77 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.2%.
Helmerich & Payne (NYSE:HP) defies analysts with a current price ($57.77) 1.9% above its average consensus price target of $56.65. The stock should find resistance at its 50-day moving average (MA) of $59.98, as well as support at its 200-day MA of $55.06.
Helmerich & Payne, Inc. is primarily a contract drilling company. As of December 31, 2011, the Company's existing fleet included 255 U.S. land rigs, 26 international land rigs and nine offshore platform rigs.
SmarTrend recommended that its subscribers protect gains by selling shares of Helmerich & Payne on July 22nd, 2016 by issuing a Downtrend alert when the shares were trading at $64.17. Since that call, shares of Helmerich & Payne have fallen 10.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades helmerich & payne