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Helmerich & Payne (HP) Outpaces Stock Market Gains: What You Should Know

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Helmerich & Payne (HP - Free Report) closed the most recent trading day at $53.40, moving +1.17% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.95%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq lost 0.25%.

Prior to today's trading, shares of the oil and gas well-drilling contractor had gained 18.13% over the past month. This has outpaced the Oils-Energy sector's gain of 8.26% and the S&P 500's gain of 0.1% in that time.

Investors will be hoping for strength from Helmerich & Payne as it approaches its next earnings release. On that day, Helmerich & Payne is projected to report earnings of $0.07 per share, which would represent year-over-year growth of 112.28%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $511.49 million, up 53.97% from the year-ago period.

HP's full-year Zacks Consensus Estimates are calling for earnings of -$0.28 per share and revenue of $1.93 billion. These results would represent year-over-year changes of +89.23% and +58.17%, respectively.

It is also important to note the recent changes to analyst estimates for Helmerich & Payne. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Helmerich & Payne is holding a Zacks Rank of #2 (Buy) right now.

The Oil and Gas - Drilling industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 105, which puts it in the top 42% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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