This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Oil Driller Comes Up Dry; Sector Slips

TULSA, Okla. ( TheStreet) -- Helmerich & Payne (HP - Get Report) reported expectedly weak earnings on a day when the entire oil services sector slipped.

Weak drilling activity across the U.S. was the primary culprit for a 59% drop in income: operating income for U.S. land operations was $90 million in the fourth quarter, compared with $158 million in Q4 2008. Operating revenue fell 38% to $362.2 million.

It might not be any consolation to the company or its investors, but Helmerich & Payne was far from the worst performer in the oil services segment of the energy market on a day when the entire energy sector dropped close to 2% by mid-afternoon. The stock was down 1.83% to $37.48.

In fact, just four of the 86 companies in the oil services sector were in positive territory during the day's trading session: North American Energy Partners (NOA) (+2.81%); Energy Services of America (ESA) (+1.64%); NuStar GP Holdings (NSH)(+0.33%); and Inergy Holdings (NRGP)(+0.30%).

Two stocks that looked liked winners but ending the day slightly to the downside were Boots & Coots (WEL)(-0.75%) and Allis-Chalmers Energy (ALY)(-0.28%).

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
ESA $0.95 0.00%
HERO $0.45 -0.29%
HP $69.11 0.06%
WG $3.42 7.89%
AAPL $124.44 0.86%


DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs