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Helmerich & Payne Is Positioned For A Land Drilling Rebound

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Summary

  • Helmerich & Payne is positioned to continue stealing market share from competitors struggling to produce profits.
  • The stock is bottoming along with the domestic drilling rig demand.
  • Helmerich & Payne is positioned to lead the rebound with a fleet of modern land drilling rigs and the ability to consolidate the space.
   The domestic drilling market remains under pressure, but Helmerich & Payne (NYSE:HP) is positioned to benefit from a pending rebound. The stock is down roughly 50% from the peak near $115 providing an interesting entry point for new investors around $65. Over the last year, the stock has collapsed similar to the price of oil.

  Read the full article at Seeking Alpha.


 Disclosure: No positions mentioned. Please the disclaimer page for more details.

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