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The Screen · Energy · Oil & Gas Drilling
Helmerich & Payne, Inc.
HP · the NYSE · USD · Market cap $3.8B · 15,700 employees
Helmerich & Payne, Inc., together with its subsidiaries, provides drilling solutions and technologies for oil and gas exploration and production companies.
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.15, read 2026-11-01
Ethical passes the values gate
Price42.99 USD
Fair value27.81
Ethical score70.0/100
Our investment reviews on this name
2026-10-28Read Accumulation38.18+12.6% to today ✓Markdown gives way to Accumulation after a 5% slide in 4 weeks
2026-10-02Read Markdown40.29+6.7% to today Markup gives way to Markdown with volume flow in agreement
2026-09-01Read Markup41.40+3.8% to today ✓Distribution gives way to Markup after a 5% rise in 9 weeks
2026-07-02Read Distribution39.25+9.5% to today First review on file: Distribution
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Helmerich & Payne, Inc. holds its Accumulation at $42.99. Consolidating, no directional conviction, held for 38 days.
As held on the ledger · 2026-10-30
Phase
Accumulation
Quantitative state
Consolidating, no directional conviction, held for 38 days
Price at the screen
$42.99
Valuation
N/A trailing · 24.50 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.69
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
32.96%
Below 33%
Interest-bearing debt is just 33.0% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.32%
Below 33%
Cash held in interest-bearing accounts and securities is 0.3% of assets, under the one-third limit.
Pass
Receivables
14.16%
Below 49%
Money owed to the company is 14.2% of assets, under the 49% limit.
Pass
Revenue purity
0.94%
Below 5%
Only 0.9% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Helmerich & Payne, clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 33%, inside the ~33% line, and almost none of its income is interest, so it passes.
Read as at 2026-10-31. It updates when the underlying figures move, and past reads are kept below.
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Today HP passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Fair value range in USD, drawn from the 2026-10-30 screen. The gold marker is the market price at the same screen. The price runs 35.3% above the base estimate.
Third-party analyst targets: 16 covering, consensus Buy. The average target sits +8% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Where our models see it going: fair-value estimate $27.81, with a range of $27.81 to $31.98, dated to the 2026-10-30 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Oil rigs chase booms that rarely last
Picture a drilling contractor paid only when the oil price stays high enough to keep rigs turning. Helmerich & Payne sits in exactly that spot, yet revenue is already down eight percent, margins sit at minus nine percent and return on equity is minus thirteen percent. At twenty-four point five times forward earnings the shares trade well above our fair value of twenty-five dollars fifty-eight, leaving no margin of safety and a clear none rating despite the ethical screen clearing.
The numbers point to a classic cyclical trap rather than a bargain. Peak-cycle earnings often look cheap on a headline multiple, yet the next downturn arrives faster than the market prices. Here the negative growth and weak returns already signal the cycle has turned, and the unknown competitive position offers no cushion when utilisation falls.
Fifteen analysts still rate the name a buy with a median target of forty-three dollars, but their optimism rests on assumptions about sustained energy prices that history shows are unreliable. The combination of stretched valuation and structural cyclical exposure leaves nothing worth holding. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
HP trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 5% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 117%. Our forward projection puts the odds of a 10% gain over the next month near 28%. The street (15 analysts) rates it buy, with a mean price target of $41.
2026-10-21Markdown$38.18-4.3%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 4.3% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 2% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 117%. Our forward projection puts the odds of a 10% gain over the next month near 28%. The street (15 analysts) rates it buy, with a mean price target of $41.
2026-10-14Markdown$39.88-1.0%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 1.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 29% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 117%. Our forward projection puts the odds of a 10% gain over the next month near 28%. The street (15 analysts) rates it buy, with a mean price target of $41.
2026-10-02Markdown · changed$40.29-2.7%Entry 6
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 2.7% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 29% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 117%. Our forward projection puts the odds of a 10% gain over the next month near 28%. The street (15 analysts) rates it buy, with a mean price target of $41.
2026-09-01Markup · changed$41.40+21.3%Entry 5
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 21.3% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 29% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 117%. Our forward projection puts the odds of a 10% gain over the next month near 28%. The street (15 analysts) rates it buy, with a mean price target of $41.
2026-08-01Distribution$34.14-13.0%Entry 4
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 13.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 29% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 117%. Our forward projection puts the odds of a 10% gain over the next month near 28%. The street (15 analysts) rates it buy, with a mean price target of $41.
2026-07-18Distribution$39.25+0.0%Entry 3
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 29% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 117%. Our forward projection puts the odds of a 10% gain over the next month near 28%. The street (15 analysts) rates it buy, with a mean price target of $41.
2026-07-03Distribution$39.25+0.0%Entry 2
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Distribution$39.25Entry 1
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
