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Stock Market & Financial Investment News

News Breaks
February 4, 2013
07:18 EDTHPHelmerich & Payne price target raised to $68 from $51 at Stephens
Stephens increased its price target on Helmerich & Payne after the company reported stronger than expected Q1 results. The firm maintains an Equal Weight rating on the shares.
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July 30, 2015
07:54 EDTHPHelmerich & Payne sees FY15 CapEx $1.3B
Depreciation expense is now expected to be approximately $580M, and general and administrative expenses are now expected to be approximately $130M for fiscal 2015. Furthermore, the company expects an effective income tax rate of approximately 34% for the fourth quarter of fiscal 2015.
07:54 EDTHPHelmerich & Payne sees Q4 revenue days to decrease 3%-4% in Q4
Excluding the impact from early termination revenue during the fourth quarter of fiscal 2015, the average rig revenue per day is expected to decrease to roughly $26,000, and the corresponding average rig expense per day is expected to decrease to roughly $13,900. As of today, the U.S. land segment has approximately 156 contracted rigs that are generating revenue and 186 idle rigs. In the offshore segment, the company expects the average rig margin per day to be approximately $10,500 during the fourth fiscal quarter and revenue days to be roughly flat as compared to the third quarter of fiscal 2015. In the international land segment, the company expects revenue days during the fourth fiscal quarter to be sequentially down by 10% to 15%. Excluding the impact from early termination revenue and also as compared to the third quarter of fiscal 2015, the average rig margin per day is expected to decline by approximately 30% to 35%.
06:20 EDTHPHelmerich & Payne reports Q3 EPS 83c, consensus 17c
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