Seeking Alpha

Helmerich & Payne Inc. (HP)

  • Jan. 7, 2014, 12:49 PM
    • Cowen lowers its estimates on oil service and drilling stocks (OIH) after an internal survey estimates slower than expected 4% growth in exploration and production spending in 2014, presenting a difficult scenario for the stocks to perform well (
    • The firm downgrades and cuts earnings estimates for Baker Hughes (BHI -1.5%), Cameron (CAM -0.4%), Nabors Industries (NBR -2%), CGG (CGG -0.2%), Superior Energy (SPN -1.9%) and Helmerich & Payne (HP +1.1%) to Market Perform from Outperform as it reduces industry growth estimates for 2014 and 2015.
  • Nov. 14, 2013, 8:26 AM
    • Helmerich & Payne (HP) +1.2% premarket after beating estimates on Q3 earnings and revenue, driven by growth in its international business.
    • Total revenue rose 4.2% to $864.5M, revenue at U.S. land operations - by far HP's largest segment - gained 1.8%, offshore operations' revenue added 2.7%, and international land-drilling revenue rose 27%.
    • Entered into agreements with three exploration and production companies to build and operate six additional FlexRigs in the U.S., all ordered under multiyear term contracts.
    | Comment!
  • Nov. 14, 2013, 6:03 AM
    • Helmerich & Payne (HP): FQ4 EPS of $1.44 beats by $0.03.
    • Revenue of $864.5M beats by $18.65M. (PR)
    | Comment!
  • Nov. 14, 2013, 12:05 AM
  • Nov. 13, 2013, 5:30 PM
  • Nov. 8, 2013, 8:52 AM
    • ISI Group turns bullish on the U.S. land rig and oil services sector after two years at neutral, as "E&P capex budgets finally appear poised for meaningful increases in 2014 driven by higher WTI prices, solid domestic production growth, and continued success in select basins." (
    • The firm's top picks are Patterson-UTI Energy (PTEN), upgraded to Strong Buy, and Buy-rated Nabors Industries (NBR), Key Energy (KEG), and Helmerich & Payne (HP).
    | 1 Comment
  • Aug. 21, 2013, 11:52 AM
    • Helmerich & Payne (HP -1.1%) announces the retirement of CEO Hans Helmerich effective March 5, 2014, to be replaced by President/COO to John Lindsay.
    • Helmerich will remain Chairman and facilitate the CEO transition through a three-year consultancy agreement; he will not receive a severance payment related to his retirement.
    | Comment!
  • Aug. 12, 2013, 12:32 PM
    • Helmerich & Payne (HP -1.7%) is downgraded to Hold from Buy at Argus based on valuation and weaker conditions in HP's main markets.
    • HP remains heavily levered to the U.S., where the rig count has been relatively flat in 2013, and the firm expects continued weak drilling activity in the near term as E&P companies remain disciplined on capital spending.
    • Although HP has gained share in unconventional plays, the firm believes earnings will come under pressure as the drilling market becomes more competitive.
    | Comment!
  • Jul. 26, 2013, 8:04 AM
    More on Helmerich & Payne's (HP) FQ3 results: Profit at its U.S. land operations, by far HP's largest segment, rose 0.3% while revenue fell 1.6%; the rig utilization rate fell to 83% from 89%. International land drilling profit rose 35% and revenue gained 29%; rig utilization rose to 80% from 77%. Offshore operations' profit jumped 83%, as revenue rose 29%; rig utilization rose to 89% from 74%. HP +0.6% premarket.
    | Comment!
  • Jul. 26, 2013, 6:17 AM
    Helmerich & Payne (HP): FQ3 EPS of $1.44 beats by $0.10. Revenue of $840.2M misses by $3.95M. (PR)
    | Comment!
  • Jul. 26, 2013, 12:05 AM
    Notable earnings before Friday’s open: ABBV, AON, ARLP, B, BPO, CLS, DLR, DRC, DTE, HMSY, HP, KKR, LEA, LEG, LYB, NS, NVE, NWL, SWK, TRP, TYC, VTR, WBC, WETF, WIT, WY
  • Jul. 25, 2013, 5:30 PM
    Notable earnings before Friday’s open: ABBV, AON, ARLP, B, BPO, CLS, DLR, DRC, DTE, HMSY, HP, KKR, LEA, LEG, LYB, NS, NVE, NWL, SWK, TRP, TYC, VTR, WBC, WETF, WIT, WY
    | Comment!
  • Jul. 10, 2013, 2:12 PM
    Nabors Industries' (NBR -5.8%) downbeat Q2 forecast could spell trouble for other oilfield services firms (OIH), Tudor Pickering warns; while some NBR-specific factors likely are at play, the U.S. horizontal rig count continues flat even with more than half the year over. NBR's biggest peers - SLB, HAL, BHI - are little changed, but smaller ones are mostly lower: HP -1.4%, PTEN -1.2%, PDS -1.5%, SPN -1.6%.
    | Comment!
  • Jul. 9, 2013, 8:59 AM
    Helmerich & Payne (HP) and Pioneer Energy Services (PES) are downgraded to Hold from Buy at Jefferies, which also cuts estimates on other land drillers in anticipation of ongoing higher capex and lower earnings growth. The firm cuts its price target on HP to $71 from $74, PES to $8 from $9, and Patterson-UTI (PTEN) to $20 from $23, but raises its target on Nabors (NBR) to $15 from $14.
    | Comment!
  • Jun. 7, 2013, 2:53 PM
    The oil services and equipment analysts at Jefferies see the monumental turning point of the U.S. becoming a net oil exporter as a highly positive catalyst for the stocks they cover. The firm's eight top stocks to buy: BHI, HAL, PSE, CAM, NOV, ATW, RDC, HP.
  • Jun. 5, 2013, 12:48 PM
    Helmerich & Payne (HP) declares $0.50/share quarterly dividend, 233% increase from prior dividend of $0.15. Forward yield 3.15% For shareholders of record August 15.Payable August 30.Ex-div date August 13. (PR)
    | Comment!
Visit Seeking Alpha's
HP vs. ETF Alternatives
Company Description
Helmerich & Payne Inc is engaged in contract drilling of oil & gas wells for others in the ownership, development & operation of commercial real estates. Its business comprises of three reportable segments: U.S. Land, Offshore & International Land.