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.
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Helmerich & Payne, Tesco estimates raised at FBR Capital FBR Capital raised its estimates for Helmerich & Payne (HP) and Tesco (TESO) citing recent strength of the Tier 1 land drilling market. FBR raised its price target for Helmerich shares to $107 from $98 and for Tesco to $27 from $22 while keeping Outperform ratings on both names.