Back in August, I made my case for Helmerich & Payne (HP) at $45. When it hit $54 dollars in November I recommended taking some profits. On Friday, HP closed at $61, exceeding my fair value estimate of $59 per share. I still like Helmerich & Payne as a company, but at $61 it’s time to finish taking your profits. From $45 that’s a 35% gain, so ring the register on HP.
Victor K. Lai, CFA
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