Why Helmerich & Payne (HP) Stock Went Down On Thursday?

We recently published a list of 10 Firms Hit Hard in Thursday’s Trading. In this article, we are going to take a look at where Helmerich & Payne, Inc. (NYSE:HP) stands against other firms that hit hard in Thursday’s trading.

Shares of 10 companies were hit hard on Thursday, bucking a mostly optimistic broader market, as investor sentiment was dragged down by disappointing earnings performances and loss of key partnerships.

The Dow Jones was the sole decliner during the day, losing 0.28 percent in its valuation. In contrast, the S&P 500 and Nasdaq Composite both ended firmer, rallying by 0.36 percent and 0.51 percent, respectively.

This article details the reasons behind the 10 companies’ lackluster performance.

To come up with Thursday’s worst performers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

An offshore drilling rig in the Gulf of Mexico surrounded by a sea of blue.

Helmerich & Payne, Inc. (NYSE:HP)

Shares of Helmerich & Payne, Inc. (NYSE:HP) fell 16.48 percent on Thursday to close at $27.72 apiece after reporting disappointing earnings performance in the first quarter of fiscal year 2025.

In a filing, Helmerich & Payne (NYSE:HP) said net income in the quarter declined by 42 percent to $54.77 million from the $95.17 million registered in the same period a year earlier as revenues ended flat at $677 million.

For the second quarter of the fiscal year, Helmerich & Payne (NYSE:HP) expects gross capital expenditures to settle between $360 million to $395 million.

For the full fiscal year, general and administrative taxes will continue to take up a huge chunk of its expenses at $280 million, while costs for research and development were projected to settle at $32 million.

Cash taxes to be paid were also targeted at approximately $190 million to $240 million.

Overall, HP ranks 2nd on our list of firms that hit hard in Thursday’s trading. While we acknowledge the potential of HP as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HP but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.