Helmerich & Payne stock saw its IBD SmartSelect Composite Rating rise to 96 Tuesday, up from 94 the day before. The Tulsa, Okla.-based oil drilling stock has 98 Relative Strength Rating. The oil industry sector has been on a tear amid the Ukraine-Russia conflict.
The new score tells you the company is now outperforming 96% of all stocks in terms of the most important fundamental and technical stock-picking criteria. The market's biggest winners often have a 95 or higher rating in the early stages of a new price run, so that's a good starting point when looking for the best stocks to buy and watch.
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Is Helmerick & Payne Stock A Buy?
Helmerich & Payne stock broke out of a wide-double bottom base from a 35.54 buy point on Feb. 28. It's continued to rally since the breakout and is now extended and out of a buying range. See if the stock pulls back into another pattern for an alternate buying opportunity. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
One weak spot is the company's 41 EPS Rating, which tracks quarterly and annual earnings-per-share growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of A shows heavy buying by institutional investors over the last 13 weeks.
Earnings Growth Ramps Up
The oil drilling firm reported a 45% rise in earnings for Q1. It has now posted accelerating EPS gains for three consecutive quarters. Revenue growth increased 66%, up from 65% in the prior quarter. The company has now posted increasing growth in each of the last five reports.
Helmerich & Payne stock holds the No. 2 rank among its peers in the Oil & Gas-Drilling industry group. Patterson-Uti Energy is the No. 1-ranked stock within the group. For more industry news, check out "Energy Stocks And Industry News: Oil, Gas, Solar, Coal."
