Helmerich & Payne, Inc. (HP) Secures a Major Offshore Maintenance and Operation Contract in the Caspian Sea Through a Joint Venture

Helmerich & Payne, Inc. (NYSE:HP) is among the 10 Best Oil & Gas Drilling Stocks to Buy.

On February 19, 2026, Turan Drilling and Engineering Company LLC, a joint venture with Helmerich & Payne, Inc. (NYSE:HP), received a five-year offshore operations and maintenance contract renewal by BP in the Caspian Sea offshore Azerbaijan.  The contract will take effect in March 2026. The deal contains three one-year extension options that could reach more than $1 billion if all options are exercised.

On February 11, 2026, Citi analyst Scott Gruber boosted Helmerich & Payne, Inc. (NYSE:HP)'s price objective to $38 from $33 while maintaining a Neutral rating on the stock.

On February 4, 2026, Helmerich & Payne, Inc. (NYSE:HP) reported a net loss of $97 million, or $0.98 per share, in the fiscal first quarter of 2026, including a $103 million non-cash impairment charge, with adjusted earnings of $14 million, or $0.15 per share. North America Solutions produced $36 million in operating income and $239 million in direct margins, averaging $18,193 per day. International Solutions reported a $55 million operating loss while delivering around $29 million in direct margins. The corporation declared $230 million in consolidated adjusted EBITDA, repaid $260 million on its term loan, and returned $25 million to shareholders.

Helmerich & Payne, Inc. (NYSE:HP) provides drilling solutions and technologies. It operates in four segments: North America Solutions, Offshore Solutions, International Solutions, and Other.

While we acknowledge the potential of HP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 15 Best Electric Utility Stocks to Invest In Now and 11 Most Volatile Stocks to Buy According to Hedge Funds.  

Disclosure: None. Follow Insider Monkey on Google News.