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HP Helmerich & Payne

Helmerich & Payne, Inc. engages in contract drilling of oil and gas well. It operates through the following segments: U.S. Land, Offshore, International Land and Helmerich and Payne Technologies. The U.S. Land segment operates its drilling business primarily in Oklahoma, California, Texas, Wyoming, Colorado, Louisiana, Mississippi, Pennsylvania, Ohio, Utah, New Mexico, Montana, North Dakota, West Virginia and Nevada. The Offshore segment conducts its business in the Gulf of Mexico and Equatorial Guinea. The International Land segment operates in six international locations including Ecuador, Colombia, Argentina, Bahrain, United Arab Emirates, and Mozambique. The Helmerich and Payne Technologies segment focuses on developing, promoting and commercializing technologies designed to improve the efficiency and accuracy of drilling operations, as well as wellbore quality and placement. The company was founded by Walter Helmerich Hugo II and William Payne in 1920 and is headquartered in Tulsa, OK.

Company profile

Ticker
HP
Exchange
Website
CEO
John Lindsay
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
HELMERICH & PAYNE INC
SEC CIK
IRS number
730679879

HP stock data

(
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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

29 Apr 21
28 Jul 21
30 Sep 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Sep 20 Sep 19 Sep 18 Sep 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 478.64M 478.64M 478.64M 478.64M 478.64M 478.64M
Cash burn (monthly) (positive/no burn) (positive/no burn) 53.64M 33.7M (positive/no burn) (positive/no burn)
Cash used (since last report) n/a n/a 209.66M 131.73M n/a n/a
Cash remaining n/a n/a 268.97M 346.9M n/a n/a
Runway (months of cash) n/a n/a 5.0 10.3 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
2 Jun 21 Benson Todd Willard Common Stock Payment of exercise Dispose F No No 32.35 335 10.84K 63,884
2 Jun 21 Benson Todd Willard Common Stock Sell Dispose S No Yes 32.5 5,000 162.5K 64,219
30 Apr 21 Smith Mark W. Common Stock Payment of exercise Dispose F No No 25.63 375 9.61K 66,628
17 Mar 21 Raymond John Adams III Common Stock Sell Dispose S No Yes 30.99 4,000 123.96K 42,284
11 Mar 21 Helmerich Hans Common Stock Sell Dispose S Yes No 32.76 50,000 1.64M 1,465,915

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

87.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 322 317 +1.6%
Opened positions 54 61 -11.5%
Closed positions 49 48 +2.1%
Increased positions 99 75 +32.0%
Reduced positions 110 135 -18.5%
13F shares
Current Prev Q Change
Total value 2.55B 2.26B +12.6%
Total shares 94.34M 97.58M -3.3%
Total puts 1.19M 2.29M -48.0%
Total calls 1.52M 626.3K +142.3%
Total put/call ratio 0.8 3.7 -78.6%
Largest owners
Shares Value Change
BLK Blackrock 14.79M $398.84M -2.0%
Vanguard 11.7M $315.45M +3.0%
State Farm Mutual Automobile Insurance 8.26M $222.61M 0.0%
Boston Partners 7.56M $203.68M +9.0%
Dimensional Fund Advisors 4.2M $113.13M +14.8%
STT State Street 3.17M $85.54M +7.8%
BAC Bank Of America 2.38M $64.07M +102.6%
Van Eck Associates 1.91M $51.56M +40.0%
Thrivent Financial For Lutherans 1.89M $50.85M -11.1%
Two Sigma Advisers 1.62M $43.79M -16.5%
Largest transactions
Shares Bought/sold Change
Magnolia 0 -1.95M EXIT
Norges Bank 0 -1.44M EXIT
BAC Bank Of America 2.38M +1.2M +102.6%
Two Sigma Investments 450.63K -1.02M -69.3%
ORI Old Republic International 0 -926K EXIT
Brandes Investment Partners 108.16K -872.4K -89.0%
Capital Research Global Investors 698.3K +698.3K NEW
Renaissance Technologies 162.3K -658.1K -80.2%
Boston Partners 7.56M +624.27K +9.0%
Millennium Management 664.7K +621.3K +1431.7%

Financial report summary

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Risks
  • The impact and effects of public health crises, pandemics and epidemics, such as the ongoing outbreak of COVID-19, have adversely affected and are expected to continue to adversely affect our business, financial condition and results of operations.
  • Our business depends on the level of activity in the oil and natural gas industry, which is significantly impacted by the volatility of oil and natural gas prices and other factors.
  • Global economic conditions and volatility in oil and gas prices may adversely affect our business.
  • The drilling services and solutions business is highly competitive, and a surplus of available drilling rigs may adversely affect our rig utilization and profit margins.
  • New technologies may cause our drilling methods and equipment to become less competitive and it may become necessary to incur higher levels of capital expenditures in order to keep pace with the disruptive trends in the drilling industry. Growth through the building of new drilling rigs and improvement of existing rigs is not assured.
  • Our business is subject to cybersecurity risks.
  • Our acquisitions, dispositions and investments may not result in anticipated benefits and may present risks not originally contemplated, which may have a material adverse effect on our liquidity, consolidated results of operations and consolidated financial condition.
  • Technology disputes could negatively impact our operations or increase our costs.
  • Unexpected events could disrupt our business and adversely affect our results of operations.
  • Reliance on management and competition for experienced personnel may negatively impact our operations or financial results.
  • The loss of one or a number of our large customers could have a material adverse effect on our business, financial condition and results of operations.
  • Our current backlog of drilling services and solutions revenue may continue to decline and may not be ultimately realized as fixed‑term contracts and may, in certain instances, be terminated without an early termination payment.
  • Our contracts with national oil companies may expose us to greater risks than we normally assume in contracts with non-governmental customers.
  • We depend on a limited number of vendors, some of which are thinly capitalized, and the loss of any of which could disrupt our operations.
  • Shortages of drilling equipment and supplies could adversely affect our operations.
  • Unionization efforts and labor regulations in certain countries in which we operate could materially increase our costs or limit our flexibility.
  • Improvements in or new discoveries of alternative energy technologies could have a material adverse effect on our financial condition and results of operations.
  • Our business and results of operations may be adversely affected by foreign political, economic and social instability risks, foreign currency restrictions and devaluation, and various local laws associated with doing business in certain foreign countries.
  • Covenants in our debt agreements restrict our ability to engage in certain activities.
  • We may be required to record impairment charges with respect to our drilling rigs and other assets.
  • A downgrade in our credit ratings could negatively impact our cost of and ability to access capital.
  • Our ability to access capital markets could be limited.
  • Our marketable securities may lose significant value due to credit, market and interest rate risks.
  • We may not be able to generate cash to service all of our indebtedness and may be forced to take other actions to satisfy our obligations.
  • Changes in the method of determining the London Interbank Offered Rate, or the replacement of the London Interbank Offered Rate with an alternative reference rate, may adversely affect interest expense related to outstanding debt.
  • New legislation and regulatory initiatives relating to hydraulic fracturing or other aspects of the oil and gas industry could negatively impact the drilling programs of our customers and, consequently, delay, limit or reduce the services we provide.
  • Failure to comply with the U.S. Foreign Corrupt Practices Act or foreign anti‑bribery legislation could adversely affect our business.
  • Our business is subject to complex and evolving laws and regulations regarding privacy and data protection.
  • Government policies, mandates, and regulations specifically affecting the energy sector and related industries, regulatory policies or matters that affect a variety of businesses, taxation polices, and political instability could adversely affect our financial condition and results of operations.
  • Legal claims and litigation could have a negative impact on our business.
  • Additional tax liabilities and/or our significant net deferred tax liability could affect our financial condition, income tax provision, net income, and cash flows.
  • We may reduce or suspend our dividend in the future.
  • The market price of our common stock may be highly volatile, and investors may not be able to resell shares at or above the price paid.
  • Certain provisions of our corporate governing documents could make an acquisition of our company more difficult.
Management Discussion
  • Net Loss We reported a loss from continuing operations of $201.2 million ($1.87 loss per diluted share) from operating revenues of $542.5 million for the six months ended March 31, 2021 compared to a loss from continuing operations of $389.7 million ($3.61 loss per diluted share) from operating revenues of $1.2 billion for the six months ended March 31, 2020. Included in the net loss for the six months ended March 31, 2021 is income of $9.8 million ($0.09 per diluted share) from discontinued operations. Including discontinued operations, we recorded a net loss of $191.4 million ($1.78 loss per diluted share) for the six months ended March 31, 2021 compared to a net loss of $389.9 million ($3.61 loss per diluted share) for the six months ended March 31, 2020.
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