Helmerich & Payne, Inc. (HP) Bundle
A Brief History of Helmerich & Payne, Inc. (HP)
Company Overview
Helmerich & Payne, Inc. (HP) is a publicly traded company, incorporated in 1940, headquartered in Tulsa, Oklahoma. The company specializes in contract drilling of oil and natural gas, operating a fleet of land rigs and offshore platforms.
Financial Performance
As of September 30, 2023, Helmerich & Payne reported the following financial figures:
| Metric | Amount (in millions USD) |
|---|---|
| Revenue | 1,479 |
| Net Income | 204 |
| Earnings Per Share (EPS) | 1.89 |
| Total Assets | 2,790 |
| Total Liabilities | 1,301 |
| Shareholder Equity | 1,489 |
Operational Highlights
As of Q3 2023, the company operated a total of:
- Over 300 land drilling rigs
- 7 offshore platforms
- Active operations across 16 states and various regions globally
Market Position
In 2023, Helmerich & Payne was ranked among the top 10 largest land drilling contractors in North America. The company had a market capitalization of approximately $5.2 billion as of October 2023.
Stock Performance
The stock performance for Helmerich & Payne, represented by the ticker symbol 'HP,' shows the following data:
| Date | Stock Price (USD) | Market Cap (in billions USD) |
|---|---|---|
| January 1, 2023 | 35.00 | 3.80 |
| July 1, 2023 | 42.50 | 4.40 |
| October 1, 2023 | 46.75 | 5.20 |
Dividends
Helmerich & Payne has a history of consistent dividend payments, with the following recent declarations:
- Q1 2023: $0.25 per share
- Q2 2023: $0.25 per share
- Q3 2023: $0.25 per share
Environmental and Social Responsibility
The company has committed to reducing its environmental footprint, with a target to decrease greenhouse gas emissions by 30% by 2030.
Future Outlook
Helmerich & Payne plans continued expansion in renewable energy sectors, aiming to diversify its operational portfolio by 2025.
A Who Owns Helmerich & Payne, Inc. (HP)
Overview of Share Ownership
Overview of Share Ownership
As of the latest filing with the Securities and Exchange Commission (SEC), Helmerich & Payne, Inc. (HP) has a diverse ownership structure that includes institutional investors, individual shareholders, and company executives.
| Owner Type | Percentage Ownership | Number of Shares |
|---|---|---|
| Institutional Investors | 81.50% | 47,865,000 |
| Insider Ownership | 2.50% | 1,472,200 |
| Retail Investors | 16.00% | 9,408,000 |
Major Institutional Holders
The following table highlights some of the largest institutional shareholders of Helmerich & Payne, Inc., along with their respective ownership stakes.
| Institution | Percentage Ownership | Number of Shares |
|---|---|---|
| The Vanguard Group, Inc. | 10.07% | 5,927,500 |
| BlackRock, Inc. | 8.75% | 5,150,000 |
| State Street Corporation | 6.45% | 3,800,000 |
| Dimensional Fund Advisors LP | 5.10% | 3,000,000 |
| Geode Capital Management, LLC | 2.67% | 1,580,000 |
Insider Ownership Details
Insider ownership plays a significant role in the governance of Helmerich & Payne, Inc. The following table details the ownership of key executives.
| Name | Position | Percentage Ownership | Number of Shares |
|---|---|---|---|
| John W. Lindsay | President and CEO | 0.50% | 295,000 |
| Mark T. Smith | VP and CFO | 0.20% | 118,000 |
| Chad R. Cummings | Vice President | 0.15% | 89,500 |
Stock Performance and Market Data
As of the most recent trading session, Helmerich & Payne, Inc. has experienced notable fluctuations in stock price. Below are the relevant financial metrics.
| Metric | Value |
|---|---|
| Current Stock Price | $37.82 |
| Market Capitalization | $4.05 billion |
| P/E Ratio | 17.40 |
| Dividend Yield | 1.75% |
| 52-Week Range | $25.31 - $40.90 |
Shareholder Engagement
Helmerich & Payne, Inc. has a structured approach to shareholder engagement, focusing on transparency and communication with its investors.
- Annual Shareholder Meeting: Typically held in February.
- Q1 and Q3 Earnings Calls for performance updates.
- Investor Relations Website: Provides financial reports and contact information.
Recent Changes in Ownership
Recent filings indicate shifts in ownership among institutional investors, reflecting market trends and changes in investment strategies.
| Date | Institution | Change in Ownership |
|---|---|---|
| Q2 2023 | Vanguard Group | Increased by 200,000 shares |
| Q2 2023 | BlackRock, Inc. | Reduced by 100,000 shares |
| Q1 2023 | State Street Corporation | Increased by 150,000 shares |
Helmerich & Payne, Inc. (HP) Mission Statement
Company Overview
Helmerich & Payne, Inc. (HP) is a leader in the contract drilling sector and provides a range of drilling services to explore and develop oil and natural gas resources. The company is headquartered in Tulsa, Oklahoma, and operates both onshore and offshore drilling facilities.
Mission Statement
The mission statement of Helmerich & Payne emphasizes the company's commitment to providing superior drilling services while maintaining safety, integrity, and technological innovation. HP seeks to create value for its customers, employees, and investors through a focus on operational excellence.
Core Values
- Safety: Prioritizing safety across all operations.
- Integrity: Conducting business with honesty and transparency.
- Innovation: Leveraging technology to enhance efficiency.
- Customer Focus: Meeting and exceeding customer expectations.
Financial Overview
As of Q4 2023, Helmerich & Payne reported the following financial metrics:
| Metric | Value |
|---|---|
| Revenue (Q4 2023) | $181.2 million |
| Net Income | $38.5 million |
| EBITDA | $65.4 million |
| Operating Income | $47.2 million |
| Total Assets | $2.1 billion |
Market Position
HP holds a significant position in the drilling market, with a fleet that consists of:
- Onshore Rigs: 221
- Offshore Rigs: 8
The company is recognized for its technological advancements and is often at the forefront of the latest drilling innovations.
Recent Developments
Recent strategic initiatives include:
- Partnerships: Collaborating with technology firms to enhance drilling efficiency.
- Fleet Upgrades: Investing $80 million in upgrading existing rigs.
- Sustainability Goals: Implementing practices aimed at reducing carbon emissions by 25% by 2025.
Conclusion on Mission Statement Implications
Helmerich & Payne's mission and values guide its strategic initiatives and operational practices, aligning with trends in the oil and gas industry. The company's ongoing focus on safety, integrity, and innovation underpins its market strategy and financial performance.
How Helmerich & Payne, Inc. (HP) Works
Company Overview
Helmerich & Payne, Inc. (HP), founded in 1920, specializes in the design, fabrication, and operation of drilling rigs. Its main operations are focused in the United States and include international operations in various countries. As of the fiscal year 2023, HP operates a fleet of 270 land rigs and 15 offshore platform rigs.
Business Segments
- U.S. Land: This segment contributes approximately 65% to total revenues.
- Offshore: Contributes around 25% of the total revenue, primarily through its operations in the Gulf of Mexico.
- International Land: This segment accounts for about 10% of revenues, with operations in countries like Brazil and Argentina.
Revenue Statistics
In FY 2022, Helmerich & Payne reported revenues of $1.75 billion. The breakdown of revenue sources is as follows:
| Segment | Revenue ($ billion) | Percentage of Total Revenue |
|---|---|---|
| U.S. Land | $1.14 | 65% |
| Offshore | $0.44 | 25% |
| International Land | $0.17 | 10% |
Financial Performance
For FY 2022, Helmerich & Payne reported a net income of $246 million with an operating income of $457 million. The company had an EBITDA of $717 million.
Debt and Equity Structure
As of September 2023, HP's total debt stands at $500 million, with a debt-to-equity ratio of approximately 0.3. The company's market capitalization is around $5 billion.
Cost Structure
The company's cost structure includes the following components:
| Cost Category | Amount ($ million) |
|---|---|
| Operating Expenses | $550 |
| Maintenance Costs | $120 |
| Depreciation and Amortization | $200 |
Market Position
HP holds a significant market position in the U.S. land drilling service sector. As of 2023, the company is one of the top three land rig operators in the United States, competing with companies like Nabors Industries and Patterson-UTI.
Strategic Initiatives
- Investment in advanced drilling technologies.
- Focus on increasing operational efficiency and sustainability.
- Expansion into international markets with growing oil and gas operations.
Recent Developments
In 2023, Helmerich & Payne announced new contracts worth approximately $200 million for the deployment of additional rigs in the Permian Basin.
Workforce Statistics
The company employs about 5,000 individuals, with a significant focus on training and safety protocols to enhance operational efficiency.
Environmental Commitment
HP is committed to reducing its carbon footprint. The company aims for a 25% reduction in greenhouse gas emissions by 2025.
How Helmerich & Payne, Inc. (HP) Makes Money
Revenue Streams
Helmerich & Payne, Inc. generates revenue primarily through two business segments: Contract Drilling and Production Services.
Contract Drilling
As of fiscal year 2022, Contract Drilling accounted for approximately $1.25 billion, representing about 80% of the company’s total revenues. The company operates a fleet of up to 249 land rigs, of which 174 are in the United States and 75 in international markets.
| Drilling Segment | U.S. Land Rigs | International Rigs | Total Revenue (2022) |
|---|---|---|---|
| Contract Drilling | 174 | 75 | $1.25 billion |
Production Services
Production Services, which includes well service rigs and related services, contributes roughly $300 million, or 20% of the total revenue. This segment serves to enhance production capabilities for clients.
| Production Services Segment | Revenue Contribution (2022) |
|---|---|
| Production Services | $300 million |
Day Rate Metrics
The average day rate for HP's rigs varies based on rig type and location. In 2022, the average day rate for U.S. land rigs was approximately $24,000 per day, while international rates averaged around $32,000 per day.
Cost Structure
HP’s operating costs for the Contract Drilling segment in 2022 were around $1.1 billion, resulting in a gross margin of approximately 12%. For Production Services, operating costs totaled approximately $250 million with a gross margin of about 17%.
| Segment | Operating Costs (2022) | Gross Margin |
|---|---|---|
| Contract Drilling | $1.1 billion | 12% |
| Production Services | $250 million | 17% |
Market Trends and Insights
The demand for drilling services correlates closely with oil prices. As of October 2023, WTI crude oil is priced at approximately $90 per barrel, which significantly influences the overall profitability of HP's operations.
Client Base
HP services major oil and gas producers, including companies like ExxonMobil and Chevron. The diversification of its customer base helps mitigate risks associated with dependence on any single client.
Financial Performance Indicators
HP reported a net income of approximately $150 million for the fiscal year 2022, resulting in a net margin of 12%.
| Performance Indicator | Value |
|---|---|
| Net Income (2022) | $150 million |
| Net Margin | 12% |
Future Outlook
Market analysis anticipates that demand for drilling services will increase as oil prices remain high. HP's strategic investments in technology and efficient operations are expected to enhance its profitability in the upcoming years.
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