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.
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