Barchart.com's Chart of the Day - Helmerich and Payne (HP)
Jim Van Meerten - BC - Fri Mar 28, 4:20PM CDT
The Barchart Chart of the Day is Helmerich and Payne (HP). I found the stock by sorting the All Time New High list for new high frequency in the last month, then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 2/11 the stock gained 22.26%,
HP is primarily engaged in the exploration, production, and sale of crude oil and natural gas and in contract drilling of oil and gas wells for others. These activities account for the major portion of its operating revenues. The company is also engaged in the ownership, development, and operation of commercial real estate.
Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
Barchart technical indicators:
96% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
13 new highs and up 13.24% in the last month
Relative Strength index 73.39%
Barchart computes a technical support level at 104.85
Recently traded at 107.70 with a 50 day moving average of 94.50
Fundamental factors:
Market Cap $11.54 billion
P/E 18.31
Dividend yield 2.35%
Revenue predicted to grow 7.90% this year and another 9.00% next year
Earnings are estimated to increase by 10.30% this year, an additional 9.20% next year and continue to increase at an annual rate of 14.00% for the next 5 years
Wall Street analysts issued 5 strong buy, 6 buy, 12 hold and 3 under perform recommendations on this stock
Financial strength is A
Solid company with good revenue and earnings growth prospects. Watch the 50 day moving average for signs of momentum weakness and use the 100 day moving average for an exit point.
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