Helmerich & Payne says operational outlook for Q2 remains unchanged Says active rig count remains flat. Says U.S. Land pricing in the spot market remains strong, but under downward pressure. Says having discussions with customers regarding additional new builds. Comments from slides that will be presented at the Howard Weil Annual Energy Conference.
Helmerich & Payne downgraded to Equal Weight at Stephens As previously reported, Stephens downgraded Helmerich & Payne to Equal Weight from Overweight citing the firm's outlook for reduced U.S. onshore spending. The firm said it remain convicted in H&P as a core holding, but that its "hard to get excited" about shares at these levels. Stephens lowered its price target on Helmerich & Payne to $74 from $79.