Well its my first purchase of 2015 and, because I spent most of 2014 paying down my student loans, this was actually my first purchase since early 2014. I have to admit that I got antsy and pulled the trigger rather quickly.
Today I purchased 34 shares of Helmerich & Payne, Inc. (HP) @ $59.26/share. Via Reuters:
Helmerich & Payne, Inc. is engaged in contract drilling of oil and gases wells for others and this business. The Company's contract drilling business is composed of three reportable business segments: U.S. Land, Offshore and International Land.HP stock price has been dropping since July and today plummeted $4.20 after they released a report announcing a reduction in both number of rigs operating and the pricing of said rigs. You can find out more about the announcement here and here.
HP has had a rough couple months and that won't let up anytime soon. But on the bright side: HP is a Dividend Champion with 42 consecutive years of dividend growth. In addition HP sports 4.6% yield.
While I was very hasty buying a piece of this company I saw this as an opportunity to buy into a Dividend Champion and I have no trouble believing that HP will bounce back.
-Nick
Photo credit: FreeDigitalPhotos.net
MPTABM,
ReplyDeleteI like this purchase a lot. Great company, excellent price. I bought some on the way down, i.e. not as good a price. If it breaks below 52 week low, I may buy some more. But my average purchase price is still yielding about 4%. Yield is my main focus so I'm not too concerned about the price action at this point. I also bought some DOV recently on the downturn.
-RBD
Yes it its always nice when a stock on your watch list hits its annual low. That's what happened for me, I jumped at the chance to get in,
DeleteLove it. I am not convinced it's hit a bottom, but now's as good a time as any to start a position. And like you said, it's still a Dividend Aristocrat, and I don't see that changing any time soon. That nice dividend should help lower your cost basis/pick up more shares at good prices too. Hope to join you as a shareholder someday!
ReplyDelete(Also, your Captcha system doesn't work on my Chromebook, which is really annoying. May want to take a look at it.)
I agree, I don't think HP's price has bottomed out but I saw this as a great opportunity to buy into this Dividend Aristocrat. I would welcome a price drop for HP's, just another opportunity to buy in.
DeleteI'll take a look at the Captcha, thanks for letting me know.