Why You Should Purchase Now and Keep This #1 (Strongest Buy) Oils & Energy Stock
Building a portfolio that is profitable for growth, value, income or momentum investors takes skill, research, as well as a little luck.
Should You Buy #1 (Strong Buy)-Ranked Helmerich & Payne (HP) for Your Portfolio?
Helmerich & Payne was upgraded to the Zacks Rank #1 list on October 21, 2022. The Zacks Rank, a stock-rating system that allows you to take advantage of earnings revision trends and gives you a way for institutional investors to access stocks highly desired.
Incorporated in 1940, Helmerich & Payne Inc. is engaged in the contract drilling of oil and gas wells in the U.S. and internationally. On a contract basis, the company provides drilling equipment, personnel, camps, and staff to help in the exploration and development of oil and gas. FlexRigs’ technologically advanced FlexRigs rigs have significantly increased the drilling efficiency of the company. They use multi-pad drilling, hydraulic drilling and horizontal drilling. Helmerich & Payne divides its operations into three business segments: North America Solutions, International Solutions and Offshore Gulf of Mexico.
Eight analysts have revised their earnings estimates upwards over the past 60 days in fiscal 2023. The Zacks Consensus Estimate for fiscal 2023 has increased $0.74 per share to $4.46. HP has an average surprise earnings of 124.2%.
For the current fiscal year, earnings are forecast to grow by 4360% and sales to rise by 45.4%.
HP has been moving higher over the past four weeks as well, up 0.9% compared to the S&P 500’s loss of 4.6%.
Bottom line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Helmerich & Payne could be just the stock to help your portfolio generate returns that could fund your retirement, your kids’ college tuition, or your short- and long-term savings goals.
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