Drilling for Dollars
Weaker oil prices have taken a toll on the share price of contract driller Helmerich & Payne (HP). Short-term fluctuations in the price of crude have little effect on the profitability of the company, however, because most of their rigs are on multiyear contracts.
Results for the fiscal year 2012 that ended Sept. 30 are due to be reported Nov. 15. Expectations are for a positive year-over-year comparison and full-year earnings per share of between $5.02 and $5.25 vs. $3.99 in fiscal 2011....253 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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