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Stock Market & Financial Investment News

News Breaks
January 7, 2014
07:57 EDTHPHelmerich & Payne downgraded to Market Perform from Outperform at Cowen
Cowen's survey indicates the oil and gas industry is expecting lower North American and international E&P spending and that consensus earnings to need to come down further. As a result, the firm downgraded Helmerich and lowered its price target to $86 from $89.
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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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