Why did Helmerich & Payne rise on 5 October?
Written after the close on
Helmerich & Payne +4.07%
Helmerich & Payne rose sharply, lifted by tighter rig markets. Helmerich & Payne climbed sharply over the last five trading days, outpacing both the S&P 500 and the energy sector, which each rose clearly. The broader market and energy sector strength over the same days likely added support. Watch the mid-November earnings report for confirmation of pricing and rig demand.
Next report: · Add to calendar · Google Calendar
Open Helmerich & Payne's chart
Earlier weeks
Helmerich & Payne edged up in the latest session. Over the past week the oil-and-gas drilling contractor fell clearly, a bigger drop than both the broad market and the energy sector, which each slipped only slightly. The decline likely reflects the stock trading without its recently raised dividend — a dividend is a cash payout to shareholders, and the share price typically drops by roughly that amount on the day it goes "ex-dividend" — and partly the attention around the higher pay packages for its chief executive and finance chief, which can weigh on sentiment. The latest session's small gain came as the wider market and energy sector were roughly flat, so it was a modest bounce rather than a sector-driven move. Watch the mid-November earnings report for the next real signal.