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.
Jefferies sees relative value in Nabors Industries Jefferies analyst Brad Handler believes shares of Nabors Industries (NBR) can outperform Patterson-UTI (PTEN) over the near term and Helmerich & Payne (HP) over the longer term. His analysis suggests Nabors likely avoids covenant breach and has adequate liquidity to weather the downturn. Handler keeps a Hold rating on Nabors, however, with a reduced price target of $7.