Helmerich & Payne, Inc. (HP)

HP stock forecast: buy or sell

HP stock outlook

  • Helmerich & Payne stock inched down -1.07% to close at $18.44 on the stock market on Friday, breaking a streak of 3 sessions in red.
  • Citigroup published a neutral rating for Helmerich & Payne on Thursday, with a target of $19.00
  • On July 28, Helmerich & Payne released its Q2 financial report
  • Helmerich & Payne, Inc. primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U. S.
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Please read:
The viewpoints published in this article are personal and not recommendations for you to buy or sell stocks. The author of this text does not know the individual situations of the reader, his or her financial statements or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Viewpoints are published for education motives only

HP stock chart overview

Should I buy Helmerich & Payne stock?

All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is HP stock a buy?

Currently, Helmerich & Payne stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean HP will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems

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Should I sell Helmerich & Payne stock?

How to know when is it time to sell Helmerich & Payne stock?. Just as when we have to buy shares, deciding when is appropiate time to sell is not a fickle decision, and we must adhere our own trading style. Our trading system selects very simple strategies to guide us on when is the best moment to sell a stock. Be aware that these strategies should not be used for shorting HP stock

As a golden rule, you should never keep an open trade that results in losses greater than those expected upon the buy. When to sell your stock always has to be determined by the stop-loss (automatic or manual)

Is it time to sell Helmerich & Payne stock?

In the current situation of Helmerich & Payne there is not any eligible sell setup, so Helmerich & Payne stock holders with operations in profit can keep their positions

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Analysts' recommendations to buy or sell Helmerich & Payne stock

Brokerage firms and financial institutions post stock ratings based on their views of the market and the fundamental and technical situation of the analyzed stock. Unfortunately, the accuracy of these predictions is not very high, and certainly not a direct buy or sell signal

In the last 30 days, 4 analyst ratings were published for Helmerich & Payne

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Helmerich & Payne ratings

Brokerage firmRating
Jul 30th, 2020
Credit Suisse Group Strong buy
Aug 3rd, 2020
Barclays
Aug 4th, 2020
Cowen
Aug 6th, 2020
Citigroup Neutral

Technical analysis

SMAs overview

Moving averages are simple tools for investors to detect direction. A moving average is calculated as the simple mean of the previous N periods (usually sessions). Moving averages are usually calculated on different periods depending on the trading timeframe 21, 50, 100 and 200 days are the most usual moving averages

Supports and resistances

Market investors use supports and resistances to spot price points in the stock price action that may act as barriers, preventing the price of shares to move in certain direction. A support level is a level where the price may find support as it falls. Price is more likely to "rebound" this level rather than break through it. However, if the price breaks down the support, it is likely to continue declining until finding another support level. On the contrary, a resistance level is where the price tends to find a curb as it moves up. Likewise, the price is more likely to "bounce off" at this level, and if it finally crosses this level, it will rise more easily until it meets the next resistance

The current resistances are:

  • R1: $18.54 (0.54% above)
  • R2: $18.64 (1.08% above)
  • R3: $19.24 (4.34% above)
  • The current support levels are:

  • S1: $18.12 (-1.74% below)
  • S2: $17.45 (-5.37% below)
  • S3: $17.39 (-5.69% below)
  • Bollinger bands

    The so-called Bollinger bands are a popular studio created by John Bollinger. Essentially, the Bollinger Bands are bands that run around a moving average, ranging the distance from the bottom to the top depending on market volatility. They are usually plotted by an interval of two standard deviations, above and below, from a moving average line. Bollinger himself recommends the moving average period to be 20

    Since the price surpassed the upper band on July 27, the price corrected downwards by 10.44%

    Relative strength index

    The Relative Strength Index is an oscillator-type indicator that measures price changes to identify when the price of a share or financial asset is overbought or oversold. Like other oscillation indicators, the RSI fluctuates in a range from 0% to 100%. The relative strength indicator is one of the best known and most widely used indicators, invented by J. Welles Wilder in the late 1970s

    The RSI dropped below the overbought level of 70 in early June after just crossing to the overbough zone for just one day (weak signal). The RSI value on Friday was 46.16. Since that level was lost, Helmerich & Payne stock sank a 34.82%

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    Earnings and financials

    Helmerich & Payne, Inc. (HP) reported EPS for the fiscal 2nd-quarter that strongly uplifted analysts' expectations. Quarterly EPS was $-0.34 per share instead of $-0.69. This Q2 report means an earnings surprise of 50.72%. On the contrary, reported sales were $317.4 million, aligned with analysts' estimates.

    Same quarter last year, reported EPS was $0.40, so recently posted EPS means a decrease of -185%. Looking at revenue, figures sank a -53.87% compared to $688.0M same quarter a year ago.

    HP will host the Q3 earnings call next November. Estimated EPS for this quarter is $-0.76. If you own or you are considering buying HP shares, you must be aware that the financial reporting day usually has a higher than usual volatility, and price can soar and sink with unsually low liquidity and not respecting your buy/stop-loss orders. You can probably uncover more details about the earnings conference call and the financial reports on the Investor Relations section of its website: http://www.hpinc.com.

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