Helmerich & Payne (HP)
Market Price (5/8/2026): $37.08 | Market Cap: $3.7 BilSector: Energy | Industry: Oil & Gas Drilling
Helmerich & Payne (HP)
Market Price (5/8/2026): $37.08Market Cap: $3.7 BilSector: EnergyIndustry: Oil & Gas Drilling
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 48% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14% Low stock price volatilityVol 12M is 45% Megatrend and thematic driversMegatrends include US Energy Independence, and Automation & Robotics. Themes include US Oilfield Technologies, and Advanced Drilling Automation. | Weak multi-year price returns2Y Excs Rtn is -39%, 3Y Excs Rtn is -43% | Stock price has recently run up significantly12M Rtn12 month market price return is 103% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 53% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -13% Key risksHP key risks include [1] challenges in international operations, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 48% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14% |
| Low stock price volatilityVol 12M is 45% |
| Megatrend and thematic driversMegatrends include US Energy Independence, and Automation & Robotics. Themes include US Oilfield Technologies, and Advanced Drilling Automation. |
| Weak multi-year price returns2Y Excs Rtn is -39%, 3Y Excs Rtn is -43% |
| Stock price has recently run up significantly12M Rtn12 month market price return is 103% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 53% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -13% |
| Key risksHP key risks include [1] challenges in international operations, Show more. |
Qualitative Assessment
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Helmerich & Payne (HP) stock has gained about 10% since 1/31/2026 because of the following key factors:
1. Strong Performance and Upgraded Outlook in North America Solutions.
Despite broader market softness, Helmerich & Payne's North America Solutions segment delivered relatively stable performance, operating an average of 136 rigs, slightly ahead of expectations. Management upgraded its full-year 2026 outlook, driven by strengthening activity in this segment, with third-quarter North America direct margin projected to improve to $230-$240 million from $215 million in the second quarter.
2. Significant Debt Reduction and Improved Liquidity.
Helmerich & Payne made substantial progress on its deleveraging goals by successfully retiring its $400 million term loan facility ahead of schedule, reducing post-acquisition debt. Additionally, the company completed the sale of Utica Square in early April 2026, generating over $100 million in after-tax proceeds. This strategic financial management enhanced the company's liquidity, which stood at $1.15 billion by the second fiscal quarter of 2026.
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1. Strong Performance and Upgraded Outlook in North America Solutions.
Despite broader market softness, Helmerich & Payne's North America Solutions segment delivered relatively stable performance, operating an average of 136 rigs, slightly ahead of expectations. Management upgraded its full-year 2026 outlook, driven by strengthening activity in this segment, with third-quarter North America direct margin projected to improve to $230-$240 million from $215 million in the second quarter.
2. Significant Debt Reduction and Improved Liquidity.
Helmerich & Payne made substantial progress on its deleveraging goals by successfully retiring its $400 million term loan facility ahead of schedule, reducing post-acquisition debt. Additionally, the company completed the sale of Utica Square in early April 2026, generating over $100 million in after-tax proceeds. This strategic financial management enhanced the company's liquidity, which stood at $1.15 billion by the second fiscal quarter of 2026.
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Stock Movement Drivers
Fundamental Drivers
The 9.7% change in HP stock from 1/31/2026 to 5/7/2026 was primarily driven by a 9.1% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312026 | 5072026 | Change |
|---|---|---|---|
| Stock Price ($) | 33.62 | 36.90 | 9.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,746 | 4,086 | 9.1% |
| P/S Multiple | 0.9 | 0.9 | 0.7% |
| Shares Outstanding (Mil) | 99 | 100 | -0.1% |
| Cumulative Contribution | 9.7% |
Market Drivers
1/31/2026 to 5/7/2026| Return | Correlation | |
|---|---|---|
| HP | 9.7% | |
| Market (SPY) | 3.6% | 2.9% |
| Sector (XLE) | 10.3% | 59.2% |
Fundamental Drivers
The 42.9% change in HP stock from 10/31/2025 to 5/7/2026 was primarily driven by a 20.0% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 5072026 | Change |
|---|---|---|---|
| Stock Price ($) | 25.82 | 36.90 | 42.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,428 | 4,086 | 19.2% |
| P/S Multiple | 0.7 | 0.9 | 20.0% |
| Shares Outstanding (Mil) | 99 | 100 | -0.1% |
| Cumulative Contribution | 42.9% |
Market Drivers
10/31/2025 to 5/7/2026| Return | Correlation | |
|---|---|---|
| HP | 42.9% | |
| Market (SPY) | 5.5% | 16.7% |
| Sector (XLE) | 28.9% | 61.4% |
Fundamental Drivers
The 104.1% change in HP stock from 4/30/2025 to 5/7/2026 was primarily driven by a 48.2% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302025 | 5072026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.08 | 36.90 | 104.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,757 | 4,086 | 48.2% |
| P/S Multiple | 0.6 | 0.9 | 38.7% |
| Shares Outstanding (Mil) | 99 | 100 | -0.7% |
| Cumulative Contribution | 104.1% |
Market Drivers
4/30/2025 to 5/7/2026| Return | Correlation | |
|---|---|---|
| HP | 104.1% | |
| Market (SPY) | 30.4% | 24.6% |
| Sector (XLE) | 43.5% | 62.7% |
Fundamental Drivers
The 27.2% change in HP stock from 4/30/2023 to 5/7/2026 was primarily driven by a 53.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302023 | 5072026 | Change |
|---|---|---|---|
| Stock Price ($) | 29.02 | 36.90 | 27.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,670 | 4,086 | 53.0% |
| P/S Multiple | 1.1 | 0.9 | -20.4% |
| Shares Outstanding (Mil) | 104 | 100 | 4.4% |
| Cumulative Contribution | 27.2% |
Market Drivers
4/30/2023 to 5/7/2026| Return | Correlation | |
|---|---|---|
| HP | 27.2% | |
| Market (SPY) | 78.7% | 40.0% |
| Sector (XLE) | 44.9% | 72.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| HP Return | 6% | 115% | -23% | -8% | -6% | 40% | 112% |
| Peers Return | 54% | 89% | -16% | -21% | 0% | 72% | 234% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 96% |
Monthly Win Rates [3] | |||||||
| HP Win Rate | 58% | 67% | 25% | 42% | 50% | 80% | |
| Peers Win Rate | 52% | 55% | 33% | 43% | 58% | 76% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| HP Max Drawdown | -5% | 0% | -37% | -15% | -52% | 0% | |
| Peers Max Drawdown | -6% | 0% | -32% | -30% | -41% | -0% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: PTEN, NBR, PDS, NE, VAL. See HP Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/7/2026 (YTD)
How Low Can It Go
| Event | HP | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -40.1% | -18.8% |
| % Gain to Breakeven | 66.9% | 23.1% |
| Time to Breakeven | 148 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -15.1% | -9.5% |
| % Gain to Breakeven | 17.8% | 10.5% |
| Time to Breakeven | 104 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -32.7% | -6.7% |
| % Gain to Breakeven | 48.6% | 7.1% |
| Time to Breakeven | 124 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -71.8% | -33.7% |
| % Gain to Breakeven | 255.2% | 50.9% |
| Time to Breakeven | 718 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -17.5% | -3.7% |
| % Gain to Breakeven | 21.2% | 3.9% |
| Time to Breakeven | 177 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -25.3% | -12.2% |
| % Gain to Breakeven | 33.8% | 13.9% |
| Time to Breakeven | 42 days | 62 days |
In The Past
Helmerich & Payne's stock fell -40.1% during the 2025 US Tariff Shock. Such a loss loss requires a 66.9% gain to breakeven.
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Asset Allocation
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| Event | HP | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -40.1% | -18.8% |
| % Gain to Breakeven | 66.9% | 23.1% |
| Time to Breakeven | 148 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -32.7% | -6.7% |
| % Gain to Breakeven | 48.6% | 7.1% |
| Time to Breakeven | 124 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -71.8% | -33.7% |
| % Gain to Breakeven | 255.2% | 50.9% |
| Time to Breakeven | 718 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -25.3% | -12.2% |
| % Gain to Breakeven | 33.8% | 13.9% |
| Time to Breakeven | 42 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -48.4% | -17.9% |
| % Gain to Breakeven | 93.8% | 21.8% |
| Time to Breakeven | 730 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -22.7% | -15.4% |
| % Gain to Breakeven | 29.4% | 18.2% |
| Time to Breakeven | 146 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -54.8% | -53.4% |
| % Gain to Breakeven | 121.5% | 114.4% |
| Time to Breakeven | 285 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -20.1% | -8.6% |
| % Gain to Breakeven | 25.1% | 9.5% |
| Time to Breakeven | 112 days | 47 days |
In The Past
Helmerich & Payne's stock fell -40.1% during the 2025 US Tariff Shock. Such a loss loss requires a 66.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Helmerich & Payne (HP)
Helmerich & Payne, Inc., together with its subsidiaries, provides drilling services and solutions for exploration and production companies. The company operates through three segments: North America Solutions, Offshore Gulf of Mexico, and International Solutions. The North America Solutions segment drills primarily in Colorado, Louisiana, Montana, Nevada, New Mexico, North Dakota, Ohio, Oklahoma, Pennsylvania, Texas, Utah, West Virginia, and Wyoming. It also focuses on developing, promoting, and commercializing technologies designed to enhance the drilling operations, as well as wellbore quality and placement. The Offshore Gulf of Mexico segment has drilling operations in Louisiana and in U.S. federal waters in the Gulf of Mexico. The International Solutions segment conducts drilling operations in Argentina, Bahrain, Colombia, and the United Arab Emirates. As of September 30, 2021, the company operated a fleet of 236 land rigs in North America; 30 international land rigs; and 7 offshore platform rigs. It also owns, develops, and operates commercial real estate properties. The company's real estate investments include a shopping center comprising approximately 390,000 leasable square feet; and approximately 176 acres of undeveloped real estate located in Tulsa, Oklahoma. Helmerich & Payne, Inc. was founded in 1920 and is headquartered in Tulsa, Oklahoma.
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Here are 1-3 brief analogies for Helmerich & Payne:
Caterpillar for oil drilling. (Like Caterpillar provides heavy equipment and services for construction and mining, HP provides specialized drilling rigs and services for oil and gas extraction.)
United Rentals for oil rigs. (Similar to how United Rentals provides a wide range of industrial equipment for rent and service, HP provides and operates highly specialized drilling rigs for energy companies.)
John Deere for oilfield machinery. (Just as John Deere manufactures and services specialized machinery for agriculture, HP provides and services specialized drilling machinery for the oil and gas industry.)
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- Drilling Services: Provides advanced drilling services to exploration and production companies across North America, the Gulf of Mexico, and international locations utilizing a fleet of land and offshore rigs.
- Drilling Technology Solutions: Develops and commercializes proprietary technologies designed to enhance the efficiency, quality, and precision of drilling operations.
- Commercial Real Estate Operations: Owns, develops, and manages commercial real estate properties, including a shopping center and undeveloped land in Tulsa, Oklahoma.
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Helmerich & Payne (HP) provides drilling services and solutions primarily to exploration and production companies.
The provided background information does not list the specific names of these customer companies.
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Raymond John "Trey" Adams III, President and Chief Executive Officer
Raymond John "Trey" Adams III was appointed President and Chief Executive Officer of Helmerich & Payne, Inc. on March 4, 2026. He has a strong background from various leadership roles within the company, having worked across many parts of the business. Adams has led programs that combine drilling know-how with integrated technology to deliver value for customers and focuses on performance, safety, customer partnerships, disciplined growth, and strong financial execution.
Todd Scruggs, Senior Vice President and Chief Financial Officer
Todd Scruggs will become Senior Vice President and Chief Financial Officer effective July 1, 2026, succeeding Kevin Vann. He joined Helmerich & Payne in 2024. Prior to joining H&P, Scruggs was a Partner at Veriten, where he led the firm's investment activities. He has held financial roles of increasing responsibility across several large energy organizations, including leading treasury and business development efforts at WPX Energy, which involved over $10 billion in transactions through its merger with Devon Energy. He began his career in energy trading roles.
John Bell, Executive Vice President of Eastern Hemisphere Land Operations
John Bell has served as Executive Vice President of Eastern Hemisphere Land Operations for Helmerich & Payne since 2025, overseeing drilling operations in South America, the Middle East, and the Gulf of Mexico. He joined H&P in 1998 as a business systems analyst and has held various senior leadership positions, including vice president of human resources and vice president of corporate services. Earlier in his career, Bell was involved in and led projects focused on improving rig operations. He holds a Bachelor of Business Administration with a double major in Economics and Marketing from Baylor University.
Cara M. Hair, Senior Vice President, Corporate Services, and Chief Legal and Compliance Officer
Cara M. Hair serves as Senior Vice President, Corporate Services, and Chief Legal and Compliance Officer at Helmerich & Payne, Inc.
Scotty Tatum, Senior Vice President, North America Solutions
Scotty Tatum is the Senior Vice President of North America Solutions for Helmerich & Payne.
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The key risks to Helmerich & Payne's business include:- Market Volatility and Oil and Gas Prices: Helmerich & Payne's performance is highly dependent on the cyclical nature of the energy sector. Fluctuations in oil and natural gas prices directly impact the capital expenditures of exploration and production companies, which in turn affects the demand for HP's drilling services and the overall U.S. oil rig count. A decline in drilling activity can negatively impact demand for Helmerich & Payne's services.
- Energy Transition and Green Energy Development: The global shift towards renewable energy and increased investment in green energy, particularly outside the U.S., poses a risk by potentially limiting global oil consumption and, consequently, the demand for drilling services. There is also a challenge in adapting to the industry's pivot towards unconventional gas exploration, which may require substantial capital expenditures for equipment upgrades or new technology acquisitions to maintain competitiveness.
- Operational and Integration Challenges from Acquisitions: The company faces risks associated with its acquisitions, such as the KCA Deutag transaction, including potential delays in integration and the possibility that anticipated benefits may not be realized. Notably, the suspension of a significant number of acquired rigs in regions like Saudi Arabia has impacted current revenues and raised concerns about future growth prospects.
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The global shift towards renewable energy sources and the associated long-term decline in demand for fossil fuels pose an emerging threat to Helmerich & Payne's core drilling services business. As exploration and production companies face increasing pressure and incentives to reduce carbon footprints and transition to sustainable energy, the demand for new oil and gas drilling could steadily decrease.
The continued rise of e-commerce represents an emerging threat to the value and viability of Helmerich & Payne's commercial real estate investments, particularly the shopping center. The shift in consumer behavior from brick-and-mortar retail to online shopping can reduce foot traffic, occupancy rates, and rental income for traditional retail properties.
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Helmerich & Payne, Inc. (HP) provides drilling services and solutions across various regions. The addressable markets for their main products and services in these regions are outlined below:
North America Solutions
- The overall North American drilling market was valued at approximately USD 29.8 billion in 2024 and is projected to reach around USD 42.5 billion by 2032.
- Specifically, the North America drilling services market size was valued at USD 4.72 billion in 2025 and is projected to be USD 5.16 billion in 2026.
- The broader North America oilfield services market, which includes drilling, was estimated at USD 46.27 billion in 2024 and is anticipated to reach USD 61.03 billion by 2033.
Offshore Gulf of Mexico
This segment is part of the broader North America offshore drilling market.
- The North America offshore drilling market was valued at USD 2.89 billion in 2025 and is projected to reach USD 3.1 billion in 2026. The Gulf of Mexico region accounts for a significant portion, responsible for 97% of the U.S. offshore hydrocarbon production.
International Solutions
Argentina
- The Argentina oil and gas upstream market, which encompasses drilling activities, is estimated at USD 3.52 billion in 2026 and is expected to reach USD 4.27 billion by 2031. Offshore projects are anticipated to experience the quickest growth within this market.
Bahrain
- The Bahrain oilfield service market, which includes drilling, was valued at USD 170.82 million in 2024 and is projected to grow to USD 247.38 million by 2032.
Colombia
- While specific market size data in USD for overall drilling services in Colombia was not readily available, the Colombia offshore drilling market is anticipated to grow at a compound annual growth rate (CAGR) of more than 9% from 2024 to 2029.
United Arab Emirates (UAE)
- The UAE offshore drilling market is expected to reach a market size of more than USD 6.41 billion by 2029.
- The broader United Arab Emirates oil and gas upstream market, which includes drilling, is estimated at USD 10.36 billion in 2025 and is expected to reach USD 13.60 billion by 2030.
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Helmerich & Payne (HP) is poised for future revenue growth over the next 2-3 years, driven by its strategic international expansion, increasing demand for high-performance drilling rigs, advancements in drilling technology, and a continued focus on maintaining strong margins in its North America Solutions segment. Here are the key drivers of future revenue growth for Helmerich & Payne:- International Expansion and Rig Reactivations: A significant driver of future revenue growth for Helmerich & Payne is its strategic international expansion, particularly in the Middle East. The acquisition of KCA Deutag International Ltd. in early 2025 substantially increased its international land operations, positioning the company to capitalize on rising demand in regions like the Middle East, North Africa, and Southeast Asia. Demand for rigs in the Middle East and North Africa (MENA) region is forecast to increase by 31% by 2029. The company has announced the reactivation of seven land rigs in Saudi Arabia, with operations recommencing in stages throughout the first half of calendar year 2026. By mid-2026, Helmerich & Payne expects to operate 24 rigs in Saudi Arabia, including its proprietary FlexRigs and those acquired through the KCA Deutag transaction. This international focus is expected to lead to improved international margins.
- Increased Demand for High-Performance Super-Spec Rigs: Helmerich & Payne holds a strong market position, especially with its Super-Spec FlexRig fleet, which is highly sought after for complex unconventional drilling. Demand for these advanced drilling rigs is anticipated to grow by 18% from current levels through 2029. These modern rigs enhance drilling efficiency, accelerate operations, and improve well recovery, aligning with the evolving needs of the oil and gas industry, particularly in shale formations. The company's super-spec rigs are expected to continue commanding higher day rates due to their capability to drill three-mile laterals and deliver the efficiency operators require.
- Technological Advancements and Digital Solutions: Helmerich & Payne's commitment to innovation and technology is a fundamental growth driver. The company actively invests in advanced automation, digital solutions, and data analytics to boost operational efficiency and reduce environmental impact. For instance, the company successfully deployed its FlexRobotics™ Technology system on a rig for a major client in the Permian Basin. The utilization of its advanced digital solutions and applications saw a 20% increase over fiscal year 2025. This technological edge also enables Helmerich & Payne to secure performance-based contracts, with approximately 50% of its active rigs in the North America Solutions segment now operating under this model, which aligns the company's incentives with customer success.
- Resilient North America Solutions Segment and Margin Focus: The North America Solutions segment remains a core strength for Helmerich & Payne, maintaining an industry-leading position. A key strategic priority for the company is to sustain strong direct margins within this segment. Helmerich & Payne is targeting a 50% direct margin in its North America Solutions segment, emphasizing performance contracts and capital efficiency. While the overall North American rig count is projected to remain relatively stable, the company's focus on high-performance rigs and operational efficiency is expected to support consistent demand and strong margins.
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Capital Allocation Decisions (Last 3-5 Years)
Share Repurchases
- Helmerich & Payne repurchased $3.94 million in shares by March 31, 2024, $47.35 million by December 31, 2023, and $102.19 million by June 30, 2023.
- The company had an authorized share buyback program of up to 4 million shares annually, with approximately $100 million authorized at the beginning of 2025.
Share Issuance
- On March 5, 2026, directors of Helmerich & Payne, including Hans Helmerich, Donald F. Robillard Jr., Jose Ramon Mas, and Belgacem Chariag, received grants of common stock or phantom stock units as compensation.
Outbound Investments
- Helmerich & Payne completed the acquisition of KCA Deutag in January 2025, a significant strategic move to enhance its international presence.
- The KCA Deutag acquisition added approximately $5.5 billion in backlog and is projected to increase operating EBITDA by 30%.
- This acquisition expanded the company's global scale, particularly in the Middle East, and diversified its geographic reach.
Capital Expenditures
- Helmerich & Payne expects gross capital expenditures for fiscal year 2026 to be between $280 million and $320 million.
- A primary focus for the fiscal 2026 capital program includes $40 million to $60 million for North America Solutions (NAS) operations for necessary upgrades and maintaining technical capabilities, and $230 million to $250 million for maintenance and reactivation-related capital across its global fleet, notably including the reactivation of seven rigs in Saudi Arabia.
- The company's capital expenditures were $426 million for fiscal year 2025 and $495 million for fiscal year 2024.
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 04172026 | VAL | Valaris | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 15.2% | 15.2% | -0.9% |
| 03312026 | KGS | Kodiak Gas Services | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 16.3% | 16.3% | -0.7% |
| 03312026 | KOS | Kosmos Energy | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 10.8% | 10.8% | -10.8% |
| 12262025 | TPL | Texas Pacific Land | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 54.5% | 54.5% | -2.1% |
| 12122025 | NOV | NOV | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 25.4% | 25.4% | -6.5% |
| 02282025 | HP | Helmerich & Payne | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | -19.0% | 38.8% | -42.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 69.20 |
| Mkt Cap | 4.0 |
| Rev LTM | 3,214 |
| Op Inc LTM | 221 |
| FCF LTM | 162 |
| FCF 3Y Avg | 247 |
| CFO LTM | 643 |
| CFO 3Y Avg | 655 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -1.4% |
| Rev Chg 3Y Avg | 15.5% |
| Rev Chg Q | -2.1% |
| QoQ Delta Rev Chg LTM | -0.6% |
| Op Inc Chg LTM | -37.7% |
| Op Inc Chg 3Y Avg | 20.6% |
| Op Mgn LTM | 6.3% |
| Op Mgn 3Y Avg | 11.0% |
| QoQ Delta Op Mgn LTM | -1.4% |
| CFO/Rev LTM | 21.5% |
| CFO/Rev 3Y Avg | 21.4% |
| FCF/Rev LTM | 5.7% |
| FCF/Rev 3Y Avg | 7.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 4.0 |
| P/S | 0.9 |
| P/Op Inc | 15.6 |
| P/EBIT | 7.3 |
| P/E | -3.0 |
| P/CFO | 5.9 |
| Total Yield | 1.9% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 6.7% |
| D/E | 0.4 |
| Net D/E | 0.3 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -1.4% |
| 3M Rtn | 36.9% |
| 6M Rtn | 71.3% |
| 12M Rtn | 127.3% |
| 3Y Rtn | 42.1% |
| 1M Excs Rtn | -7.8% |
| 3M Excs Rtn | 28.9% |
| 6M Excs Rtn | 61.3% |
| 12M Excs Rtn | 91.9% |
| 3Y Excs Rtn | -32.7% |
Comparison Analyses
Price Behavior
Price Behavior
| Market Price | $36.90 | |
| Market Cap ($ Bil) | 3.7 | |
| First Trading Date | 10/15/1980 | |
| Distance from 52W High | -11.1% | |
| 50 Days | 200 Days | |
| DMA Price | $36.17 | $28.14 |
| DMA Trend | up | up |
| Distance from DMA | 2.0% | 31.1% |
| 3M | 1YR | |
| Volatility | 41.2% | 44.9% |
| Downside Capture | -0.00 | 0.29 |
| Upside Capture | 30.60 | 124.19 |
| Correlation (SPY) | 5.9% | 23.4% |
HP Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -1.21 | -0.31 | 0.07 | 0.45 | 0.87 | 1.16 |
| Up Beta | -0.79 | -0.77 | -0.48 | -0.13 | 0.47 | 1.09 |
| Down Beta | -12.75 | 0.43 | 1.20 | 1.20 | 1.31 | 1.85 |
| Up Capture | 1% | 4% | 32% | 90% | 135% | 57% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 15 | 25 | 38 | 72 | 130 | 381 |
| Down Capture | -586% | -69% | -44% | -3% | 64% | 97% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 7 | 18 | 26 | 52 | 121 | 370 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HP | |
|---|---|---|---|---|
| HP | 101.3% | 44.8% | 1.68 | - |
| Sector ETF (XLE) | 43.6% | 20.0% | 1.69 | 62.4% |
| Equity (SPY) | 29.6% | 12.5% | 1.86 | 23.3% |
| Gold (GLD) | 37.0% | 27.1% | 1.14 | 0.9% |
| Commodities (DBC) | 48.7% | 18.0% | 2.12 | 32.6% |
| Real Estate (VNQ) | 12.9% | 13.5% | 0.65 | 9.8% |
| Bitcoin (BTCUSD) | -16.3% | 42.1% | -0.31 | 17.8% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HP | |
|---|---|---|---|---|
| HP | 12.0% | 48.7% | 0.40 | - |
| Sector ETF (XLE) | 22.2% | 26.1% | 0.76 | 74.4% |
| Equity (SPY) | 12.8% | 17.1% | 0.59 | 39.5% |
| Gold (GLD) | 21.1% | 17.9% | 0.96 | 10.1% |
| Commodities (DBC) | 14.1% | 19.1% | 0.60 | 51.8% |
| Real Estate (VNQ) | 3.3% | 18.8% | 0.08 | 28.3% |
| Bitcoin (BTCUSD) | 7.0% | 56.0% | 0.34 | 17.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HP | |
|---|---|---|---|---|
| HP | -0.8% | 51.3% | 0.19 | - |
| Sector ETF (XLE) | 9.5% | 29.5% | 0.36 | 77.9% |
| Equity (SPY) | 15.0% | 17.9% | 0.72 | 48.8% |
| Gold (GLD) | 13.5% | 16.0% | 0.70 | 7.5% |
| Commodities (DBC) | 9.4% | 17.8% | 0.44 | 53.0% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.24 | 37.4% |
| Bitcoin (BTCUSD) | 68.2% | 66.9% | 1.07 | 13.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/6/2026 | -7.4% | ||
| 2/4/2026 | -5.2% | -5.7% | -5.7% |
| 11/17/2025 | -2.9% | -2.2% | 1.2% |
| 8/6/2025 | 3.2% | 15.9% | 32.2% |
| 5/7/2025 | -3.5% | -1.2% | -10.7% |
| 2/5/2025 | -16.5% | -18.8% | -22.2% |
| 11/13/2024 | -6.2% | -6.1% | -6.5% |
| 7/24/2024 | 8.8% | 7.1% | -13.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 7 | 10 | 11 |
| # Negative | 18 | 14 | 13 |
| Median Positive | 8.8% | 6.0% | 16.5% |
| Median Negative | -4.3% | -7.6% | -11.6% |
| Max Positive | 12.0% | 18.3% | 33.5% |
| Max Negative | -16.5% | -18.8% | -24.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/05/2026 | 10-Q |
| 09/30/2025 | 11/21/2025 | 10-K |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/05/2025 | 10-Q |
| 09/30/2024 | 11/13/2024 | 10-K |
| 06/30/2024 | 07/25/2024 | 10-Q |
| 03/31/2024 | 04/24/2024 | 10-Q |
| 12/31/2023 | 01/29/2024 | 10-Q |
| 09/30/2023 | 11/08/2023 | 10-K |
| 06/30/2023 | 07/26/2023 | 10-Q |
| 03/31/2023 | 04/26/2023 | 10-Q |
| 12/31/2022 | 01/30/2023 | 10-Q |
| 09/30/2022 | 11/17/2022 | 10-K |
| 06/30/2022 | 07/27/2022 | 10-Q |
| 03/31/2022 | 04/27/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q2 2026 Earnings Reported 5/6/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 North America Solutions Direct Margin | 2.3E10% | 2.35E10% | 2.4E10% | 8.0% | Raised | Guidance: 2.175E10% for Q2 2026 | |
| Q3 2026 North America Solutions Average Rigs | 137 | 140 | 143 | 3.7% | Raised | Guidance: 135 for Q2 2026 | |
| Q3 2026 International Solutions Direct Margin | 1.2E9% | 2.2E9% | 3.2E9% | 29.4% | Raised | Guidance: 1.7E9% for Q2 2026 | |
| Q3 2026 International Solutions Average Rigs | 58 | 63 | 68 | 5.0% | Raised | Guidance: 60 for Q2 2026 | |
| Q3 2026 Offshore Solutions Direct Margin | 2.4E9% | 2.6E9% | 2.8E9% | 4.0% | Raised | Guidance: 2.5E9% for Q2 2026 | |
| Q3 2026 Offshore Solutions Average Rigs / Mgmt. Cont. | 30 | 32.5 | 35 | 0 | Affirmed | Guidance: 32.5 for Q2 2026 | |
| Q3 2026 Other Direct Margin | 0.0% | 1.5E8% | 3.0E8% | -72.7% | Lowered | Guidance: 5.5E8% for Q2 2026 | |
| 2026 Gross Capital Expenditures | 270.00 Mil | 290.00 Mil | 310.00 Mil | ||||
| 2026 Depreciation | 700.00 Mil | 0 | Affirmed | Guidance: 700.00 Mil for 2026 | |||
| 2026 Research and Development | 28.00 Mil | 12.0% | Raised | Guidance: 25.00 Mil for 2026 | |||
| 2026 Selling, General & Administrative | 265.00 Mil | 275.00 Mil | 285.00 Mil | 0 | Affirmed | Guidance: 275.00 Mil for 2026 | |
| 2026 Cash Taxes | 125.00 Mil | 137.50 Mil | 150.00 Mil | 14.6% | Raised | Guidance: 120.00 Mil for 2026 | |
| 2026 Interest Expense | 100.00 Mil | 0 | Affirmed | Guidance: 100.00 Mil for 2026 | |||
Prior: Q1 2026 Earnings Reported 2/4/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Direct Margin | 3.0E8% | 5.5E8% | 8.0E8% | ||||
| Q2 2026 Average Rig Count | 57 | 60 | 63 | ||||
| Q2 2026 Average Management Contracts and Contracted Platform Rigs | 30 | 32.5 | 35 | ||||
| 2026 Depreciation | 700.00 Mil | 1.4% | Raised | Guidance: 690.00 Mil for 2026 | |||
| 2026 Research and Development Expenses | 25.00 Mil | 0 | Affirmed | Guidance: 25.00 Mil for 2026 | |||
| 2026 General and Administrative Expenses | 265.00 Mil | 275.00 Mil | 285.00 Mil | 0 | Affirmed | Guidance: 275.00 Mil for 2026 | |
| 2026 Cash Taxes | 95.00 Mil | 120.00 Mil | 145.00 Mil | 0 | Affirmed | Guidance: 120.00 Mil for 2026 | |
| 2026 Interest Expense | 100.00 Mil | 0 | Affirmed | Guidance: 100.00 Mil for 2026 | |||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hair, Cara M | SVP, CORP. SERVICES & CLO | Direct | Sell | 3232026 | 36.62 | 58,771 | 2,152,194 | 6,430,069 | Form |
| 2 | Helmerich, Hans | Reporting Person's Trust | Sell | 12222025 | 28.10 | 25,000 | 702,500 | 13,958,254 | Form | |
| 3 | Helmerich, Hans | Family Trust | Sell | 12222025 | 28.13 | 50,000 | 1,406,500 | 34,203,689 | Form | |
| 4 | Momper, Sara Marie | VP, CAO | Direct | Sell | 12042025 | 30.23 | 6,681 | 201,967 | 460,312 | Form |
| 5 | Momper, Sara Marie | VP, CAO | Direct | Sell | 8192025 | 17.83 | 6,700 | 119,461 | 390,620 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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