Helmerich & Payne Couldn't Get Over the Profit Hurdle Last Quarter
As great as 2017 has been for the shale oil sector, with growing production that put rigs and other drilling equipment back online, and crews back to work, that hasn't necessarily translated to profit growth for equipment and service providers like Helmerich & Payne (NYSE: HP). In its fiscal third quarter, which ended June 30, the company brought in higher revenues from putting more rigs in the field, but those newly operating rigs weren't enough to generate a positive result on the earnings line of the income statement.
Here's a look at the good and bad points from the company's most recent earnings report, and what investors can expect from here.
Image source: Getty Images.
Source: Fool.com
Helmerich & Payne Inc Stock
€35.74
-0.620%
Our community is currently high on Helmerich & Payne Inc with 7 Buy predictions and 3 Sell predictions.
With a target price of 46 € there is a positive potential of 28.71% for Helmerich & Payne Inc compared to the current price of 35.74 €.
