Helmerich & Payne, Inc. (NYSE:HP) is included among the 10 High-Yield Crude Oil Stocks to Buy After Trump’s Venezuela Bombing.
Helmerich & Payne, Inc. (NYSE:HP), together with its subsidiaries, provides drilling technologies and solutions to oil and gas exploration and production companies.
On January 7, TD Cowen analyst Marc Bianchi raised his price target on the company from $33 to $35, while maintaining a “Hold” rating on the stock. The revised target, which is part of the company’s fourth-quarter preview, indicates an increase of more than 14% from current levels.
The analyst noted that many oilfield stocks posted gains on news of U.S. action in Venezuela, which has led U.S. oil companies to potentially gain access to the world’s largest oil reserves. However, American companies will need a lot of time and assurances from the White House before committing to invest tens of billions to revive Venezuela’s crumbling oil infrastructure. TD Cowen believes that while the market’s enthusiastic reaction to the news may be overblown, some oil reserves remain “cheap.”
It is worth mentioning that Helmerich & Payne, Inc. (NYSE:HP) is still trying to collect $90 million in bills and recover 11 drilling rigs confiscated by Venezuela in 2010. Therefore, the current US move to overthrow President Maduro and gain control of the country’s oil reserves may help.
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