HMH (HMH)
Builds topside drilling packages and subsea pressure-control equipment for offshore and onshore rigs.
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Makes highly engineered topside drilling packages and subsea pressure-control equipment for offshore and onshore drilling contractors, national oil companies, and rig owners, drawing on a century-plus hardware lineage now run as a joint venture between two energy-equipment parents that still hold voting control after the 2026 listing.
Highly engineered drilling equipment, spanning topside packages and subsea pressure-control systems, sold to offshore and onshore drilling contractors, national oil companies, and rig owners. One line covers full drilling packages, control systems, and aftermarket parts on installed equipment; the other covers blowout preventers, wellhead connectors, and recertification services that keep subsea pressure-control gear compliant.
The hardware lineage runs back more than a century, through brands including Wirth, Maritime Hydraulics, and Hydril, brought together as a single joint venture between two energy-equipment parents in 2021. Operations concentrate around two centers, in Houston and Kristiansand, Norway, reaching dozens of countries with adjacent uses in mining and construction drilling.
Listed on Nasdaq since 2026 through an Up-C structure, the business stays majority-controlled by its two founding parents through unlisted voting shares, while demand tracks the cyclical capital spending of offshore exploration and production.
Company facts
Target rangeAs of Sep 2, 2026
Latest analyst notes
| Date | Firm | Action | Prior target | Target |
|---|---|---|---|---|
| Aug 12, 2026 | Stifel Nicolaus | Target | $27 | $28 |
| Aug 7, 2026 | Evercore ISI | Target | $27 | $24 |
| Apr 27, 2026 | Piper Sandler | Target | $32 | |
| Apr 27, 2026 | Stifel Nicolaus | Target | $27 | |
| Apr 27, 2026 | Evercore ISI | Target | $27 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $119.7M · Total debt $245.0M · Total assets $1.36B · Shareholders' equity $210.3M
- Revenue
- $170.8M
- Operating income
- $173.0K
- Net income
- $5.0M
No dividends on record.
| Institutions69 holders · as of Jun 30, 2026 | 27.01% | 12.07M shares | |
| Insiders13 holders · as of Jun 23, 2026 | 108.98% | 48.70M shares | |
| Strategic holders1 holder · as of May 4, 2026 | 35.68% | 15.95M shares | |
| Adds to | 171.67% |
44.69M company shares as of Aug 21, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
The share count has not been confirmed by a second filing; stakes use it as it stands.
These groups come from separate filings that can overlap, so they add to 171.67%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
ASA AkastorInsider10 percent owner | 107.43% | 32.06M · 15.95M | Form 4filed May 4, 2026 ↗ |
Baker Hughes Co1Strategicdirector, 10 percent owner, other: Director by Deputization | 35.68% | 15.95M | Form 4filed May 4, 2026 ↗ |
Price T Rowe Associates Inc /MD/Institution | 6.28% | 2.81M | 13Fas of Jun 30, 2026 |
American Century Companies IncInstitution | 3.35% | 1.50M | 13Fas of Jun 30, 2026 |
Wellington Management Group LLPInstitution | 1.70% | 760,497 | 13Fas of Jun 30, 2026 |
| See all 25 → | |||
- Baker Hughes Co reports a block also reported by ASA Akastor; it is counted once, under ASA Akastor.
13F — a manager's quarterly holdings · Form 4 — an insider's transaction report
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Apr 2, 2026 | Eirik Bergsvik | officer: Chief Executive Officer | +10,000 | $20.00 |
| Apr 2, 2026 | Thomas W. McGee | officer: Chief Financial Officer | +50,000 | $20.00 |
| Apr 2, 2026 | Lance Loeffler | director | +5,000 | $20.00 |
| Apr 2, 2026 | Pal Skogerbo | officer: Chief Technology Officer | +1,000 | $20.00 |
| Apr 2, 2026 | Roy A. Dyrseth | officer: Chief Commercial Officer | +8,000 | $20.00 |
- NOV
Broadest overlap across topside rig packages, BOPs, and aftermarket
- SLB
Diversified oilfield giant; 70%-owned OneSubsea overlaps subsea PCS lines
- TechnipFMC
Rival OEM in subsea and surface wellheads and pressure-control connectors
- Innovex International
Subsea wellhead and connector systems compete with legacy Dril-Quip lines
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| HMH | $19.67 | +2.61% | $878.6M | 22.4 | 6.3 | 1.2 | — |
| NOV | $21.51 | −0.99% | $7.74B | 83.5 | 20.4 | 0.9 | −2.5% |
| SLB | $58.20 | +0.10% | $86.27B | 28.4 | 20.4 | 2.4 | +5.0% |
| TechnipFMC | $80.50 | +1.00% | $31.24B | 27.7 | 23.4 | 3.0 | +9.0% |
| Innovex International | $30.69 | −1.34% | $2.17B | 35.0 | 19.2 | 2.2 | +9.2% |
| Median | 31.7 | 20.4 | 2.3 | +7.0% |