Helmerich & Payne (HP) highlighted its competitive positioning through automation, cost savings and customer relationships at its Technology Day, pointing to steady demand and potential growth opportunities in robotics and geothermal drilling, RBC said in a note emailed Monday.

The company's FlexRobotics system, developed with NOV, automates tubular handling on Exxon rigs, RBC said, adding that it sees potential for additional deployments beyond the nine previously expected as Exxon targets broader fleet automation by 2028.

HP's FlexRig Machinery Center has generated about $100 million in savings over the past four years by rebuilding equipment in about four weeks at 30% to 60% of new-equipment costs, while Fervo (FRVO) is evaluating more than 10 gigawatts of geothermal opportunities.

RBC raised its fiscal Q4 2026 EBITDA estimate to $260 million from $248 million and revised its 2027 and 2028 EBITDA forecasts to $1.029 billion and $1.096 billion from $1.027 billion and $1.101 billion, respectively.

RBC maintained its sector perform rating on the stock, with a price target of $49.

Helmerich & Payne shares were down 1.6% in Monday trading.

Price: 39.26, Change: -0.62, Percent Change: -1.55