Why Helmerich & Payne Inc. (HP) stock went down in the after-hours on Monday after a good early performance?

Helmerich & Payne Inc. (HP) shares declined 0.24% in after-hours on Monday, January 03, 2021, and closed the weekly trading at $25.25. However, in the regular trading session of Monday, HP’s stock gained 6.79%. HP shares have risen 9.38% over the last 12 months, and they have moved up 0.68% in the past week. Over the past three months, the stock has lost 16.11%, while over the past six months, it has declined 20.38%. The company has a current market of $2.75 billion and its outstanding shares stood at 107.90 million.

Let’s have a look at its recent news and developments.

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HP participation in the upcoming event

Mark Smith, Senior Vice President, and Chief Financial Officer; Trey Adams, Senior Vice President of Digital Operations, Sales & Marketing; Dave Wilson, Vice President of Investor Relations of Helmerich & Payne, Inc. (HP) will participate in the following upcoming conferences.

  • The Goldman Sachs Global Energy and Clean Technology Conference 2022 is to be held on Wednesday, January 5, 2022; Mr. Adams will participate in a virtual panel on behalf of the Company at 10:20 a.m. ET.
  • The ATB 10th Annual Institutional Investor Conference is to be held on Wednesday, January 12, 2022.

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HP agreement with ADNOC Drilling

On December 20, 2021, ADNOC Drilling Company PJSC and Helmerich & Payne, Inc. (HP) jointly announced the finalization of the Rig Enablement Framework Agreement.

The Framework Agreement built on the Asset Purchase Agreement and IPO Cornerstone Agreement announced on September 8, 2021, and will further strengthen the strategic alliance between ADNOC Drilling and H&P. the recent agreement will improve ADNOC Drilling’s land rig operational performance, as well as will support its ambitious growth and expansion plans.

HP released its Inaugural Sustainability Report

On December 14, 2021, Helmerich & Payne, Inc. (HP) released its inaugural Sustainability Report outlining the Company’s sustainability efforts and performance data. A copy of H&P’s 2021 Sustainability Report and related 2021 Performance Data can be downloaded from the company’s website.

HP latest financial results

On November 17, 2021, Helmerich & Payne, Inc. (HP) reported its financial results for the fourth quarter and fiscal year ended on September 30, 2021.

Q4 financial highlights

  • HP reported total revenue of $344 million in Q4 2021 compared to $208 million in Q4 2020.
  • Total operating cost and expenses were $440.84 million in Q4 2021 compared to $284 million in Q4 2020
  • It suffered a net loss of $79 million, or $0.74 per diluted share in Q4 2021 compared to a net loss of $59 million or $0.57 per diluted share in Q4 2020.

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We have no recent major development which could justify its positive performance in regular trading session and later its minor loss in the after-markets on Monday. We hope that it will perform well in the coming trading sessions.

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