Upgrade Alert for Helmerich & Payne (HP)
Helmerich & Payne (NYSE:HP) was upgraded from Underweight to Equal Weight at Morgan Stanley today. The stock closed yesterday at $62.68 on volume of 2.0 million shares, below average daily volume of 2.2 million.
In the past 52 weeks, shares of Helmerich & Payne have traded between a low of $40.02 and a high of $79.90 and closed yesterday at $62.68, which is 57% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has remained constant.
Helmerich & Payne (NYSE:HP) is currently priced 9.6% above its average consensus analyst price target of $56.65. The stock should find initial support at its 50-day moving average (MA) of $59.98 and further 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 6.2%. 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