Helmerich and Payne faces a challenging combination of quality well below minimum investment thresholds, three earnings misses in its last four reported quarters, and declining revenues of approximately 8% year-over-year — factors that together argue for caution despite the stock's apparent valuation appeal and its technically strong positioning at support levels.
Thesis pillars
- Geographic Concentration North America↓Deteriorating
- Quality Below Minimum Threshold→Stable
- Persistent Earnings Miss Pattern→Stable
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Nov 21, 2025
Helmerich & Payne, Inc. (HP) Stock Analysis
Breakout setup
Energy · Oil & Gas Drilling
Sell if holding. Engine safety override at $41.81: a dimension score below its floor triggers a hard block regardless of the otherwise-positive setup — overall score 5.2/10. Specifically: Below-average business quality.
Helmerich & Payne provides land and offshore contract drilling services, operating 223 North America Solutions rigs and 137 International Solutions rigs following the January 2025 KCA Deutag acquisition ($2.0 billion). North America Solutions contributed about 63% of... Read more
Sell if holding. Engine safety override at $41.81: a dimension score below its floor triggers a hard block regardless of the otherwise-positive setup — overall score 5.2/10. Specifically: Below-average business quality. Chart setup: Golden cross, above all MAs, RSI 58, MACD bullish. Score 5.2/10, moderate confidence.
Passes 6/8 gates (positive momentum, clean insider activity, news events none recent, earnings proximity 20d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: aggressive.
About Helmerich & Payne, Inc.
About Helmerich & Payne, Inc.
Helmerich & Payne generated roughly $3.8 billion in consolidated operating revenues in fiscal year 2025, with North America Solutions contributing $2.4 billion (63%), International Solutions $802 million (21%), and Offshore Solutions $520 million (14%). The company closed its $2.0 billion KCA Deutag acquisition on January 16, 2025, expanding international rig availability from 27 to 137 and adding operations across the Middle East, South America, Europe, and Africa; active rigs totaled 208 at September 30, 2025.
H&P earns dayrate revenue through fixed-term and well-to-well contracts with major integrated oil companies, large and small independents, and private equity-backed operators. North America Solutions held about 24% of U.S. land drilling market share and 33.7% of the super-spec market at September 30, 2025, with 144 of 223 marketed rigs active. The largest consolidated drilling customer contributed 12.0% of total revenues ($451.3 million) in fiscal 2025. International operations are concentrated in Saudi Arabia ($259.0 million, 6.9% of total revenues — all from the national oil company), Oman ($177.9 million, 4.7%), and Argentina ($155.7 million, 4.2%). Competitors in U.S. land drilling include Nabors Industries Ltd., Patterson-UTI Energy, Inc., and Precision Drilling Corporation.
Show full overview
The Saudi Arabia rig portfolio illustrates integration risk from the KCA Deutag acquisition: all 44 available rigs are contracted with the national oil company, yet 27 were under contract suspension at September 30, 2025 and earning no revenue. The suspensions followed notifications received after the acquisition announcement in July 2024. If suspensions persist, the segment generating 6.9% of consolidated revenues could continue to underperform; the 10-K notes no assurance that anticipated benefits from the $2.0 billion acquisition will materialize on the expected timeline.
See also: Energy · Oil & Gas Drilling
From Helmerich & Payne, Inc.'s most recent 10-K filing, extracted June 10, 2026.
Recent developments
updated 2026-10-29Recent Developments — Helmerich & Payne, Inc.
Latest news
- NEWS UBS Maintains Buy on Helmerich & Payne, Raises Price Target to $50 — benzinga Oct 12, 2026 positive
- NEWS Barclays Maintains Overweight on Helmerich & Payne, Raises Price Target to $51 — benzinga Oct 12, 2026 positive
- NEWS Helmerich & Payne Q3 2026 Earnings Call Transcript — benzinga Oct 9, 2026 neutral
- NEWS ExxonMobil Targets Nine FlexRobotics Systems to Improve Drilling Safety — benzinga Oct 7, 2026 neutral
- NEWS Helmerich & Payne Expects Fiscal Q4 Direct Margins At Or Near High End Of Guidance In All Segments, International About — benzinga Oct 7, 2026 positive
Generated 2026-10-29T11:08:51Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHGeographicNorth America Solutions63%10-K Item 1: 'Our North America Solutions segment contributed approximately 63.0 percent ($2.4 billion) of our consolidated operating revenues during fiscal year 2025'
- LOWCustomerlargest drilling customer12%10-K Item 1: 'Revenue from drilling services performed for our largest drilling customer totaled approximately 12.0 percent ... of our total consolidated revenues during fiscal years 2025'
Material Events(8-K, last 90d)
- 2026-03-16Item 5.02MEDIUMCFO J. Kevin Vann to retire June 30, 2026. Successor Todd Scruggs (VP Corporate Finance and Treasurer) appointed effective July 1, 2026. Retirement not due to any disagreement with company operations or practices.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. People who build TrendMatrix, or entities they control, may hold positions, long or short, in securities it covers, and may trade them at any time. Positions are not disclosed individually. Verdicts are generated by an automated model applied by the same rules to every covered stock, and are not adjusted for any position held by the people who build TrendMatrix. We do not accept payment from issuers for coverage.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Rating Breakdown
3 floor-breakers
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Cyclical trough — margins compressed or negative. Profitability typically recovers with the cycle, but floor fires on current data.static
No near-term catalyst priced in. Thesis progression will come from fundamentals grinding, not event reaction.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Engine safety override at $41.81: a dimension score below its floor triggers a hard block regardless of the otherwise-positive setup — overall score 5.2/10. Specifically: Below-average business quality. Chart setup: Golden cross, above all MAs, RSI 58, MACD bullish. Prior stop was $38.88. Score 5.2/10, moderate confidence.
Analyst target $40.89 reached (−2.2% from $41.81); no take-profit level is published. Prior stop was $38.88. Stop-loss: $38.88.
Concentration risk — Geographic: North America Solutions (63.0%); Target reached (-2.2% upside); Quality below floor (3.0 < 4.0).
Helmerich & Payne, Inc. trades at a P/E of N/A (forward 27.4). TrendMatrix value score: 7.1/10. Verdict: Sell.
25 analysts cover HP with a consensus score of 3.6/5. Average price target: $45.
What does Helmerich & Payne, Inc. do?Helmerich & Payne provides land and offshore contract drilling services, operating 223 North America Solutions rigs and...
Helmerich & Payne provides land and offshore contract drilling services, operating 223 North America Solutions rigs and 137 International Solutions rigs following the January 2025 KCA Deutag acquisition ($2.0 billion). North America Solutions contributed about 63% of consolidated FY2025 operating revenues; customers are primarily major integrated and independent oil companies.