Helmerich & Payne Appoints Vann As CFO
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 05 2024
0mins
Should l Buy HP?
Source: NASDAQ.COM
Appointment Announcement: Helmerich & Payne, Inc. has appointed Kevin Vann as the new chief financial officer, effective August 5, 2024, succeeding Mark Smith who will retire on August 15, 2024.
Background Information: Kevin Vann brings extensive experience in financial management and accounting from his previous role as CFO at WPX Energy from 2014 to 2021.
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Analyst Views on HP
Wall Street analysts forecast HP stock price to fall
13 Analyst Rating
6 Buy
6 Hold
1 Sell
Moderate Buy
Current: 33.640
Low
26.00
Averages
31.45
High
36.00
Current: 33.640
Low
26.00
Averages
31.45
High
36.00
About HP
Helmerich & Payne, Inc., through its subsidiaries, designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. It develops and implements advanced automation, directional drilling and survey management technologies. Its segments include North America Solutions, International Solutions, and Offshore Gulf of Mexico. The North America Solutions segment has operations which are located in Texas and other states, including Colorado, Louisiana, Montana, New Mexico, North Dakota, Ohio, Oklahoma, Pennsylvania, Utah, and West Virginia. The Offshore Gulf of Mexico segment has operations that are located in Louisiana and in the United States federal waters in the Gulf of Mexico. The International Solutions segment has rigs and/or services located in five international locations: Argentina, Australia, Bahrain, Colombia, and Saudi Arabia. It owns and operates a number of commercial real estate properties located in Tulsa, Oklahoma.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Escalating Security Threats: Iran's Revolutionary Guard has designated 18 tech companies, including Oracle, as 'legitimate targets' in retaliation for U.S. and Israeli strikes, indicating the increasing significance of tech assets in conflicts.
- Industry Impact: James Henderson, CEO of risk management firm Healix, noted that the threats against tech companies are part of a sustained pattern, suggesting that future crises may target data centers and cloud platforms as much as traditional strategic sites.
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See More
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- Strategic Optimization: This transaction aligns with H&P's portfolio optimization strategy aimed at accelerating deleveraging and concentrating resources on its core drilling solutions business, thereby enhancing overall financial health.
- Management Transition: Northwood Investors has assumed ownership of Utica Square, with its affiliate Northwood Retail LLC managing the property, ensuring the continued success and development of this retail center.
- Legacy Preservation: Utica Square has been part of H&P's assets since the 1960s, and Chairman Hans Helmerich emphasized the importance of finding a buyer with a long-term perspective to continue its legacy and community value.
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