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Best Oil & Gas Drilling Stocks to Buy Now (2024)
Top oil & gas drilling stocks in 2024 ranked by overall Zen Score. See the best oil & gas drilling stocks to buy now, according to analyst forecasts for the oil & gas drilling industry.

Industry: Oil & Gas Drilling
Ticker
Company
Exchange
Industry
Zen Score
Market Cap
Price
1d %
EBITDA
P/E
D/E
PTEN
PATTERSON UTI ENERGY INC
NASDAQ
Oil & Gas Drilling
$4.83B$11.57-2.28%$940.73M8.57x0.53
HP
HELMERICH & PAYNE INC
NYSE
Oil & Gas Drilling
$3.74B$37.81-2.48%$986.04M8.98x0.60
NE
NOBLE CORP PLC
NYSE
Oil & Gas Drilling
$6.18B$43.32-1.92%$872.73M12.45x0.41
PDS
PRECISION DRILLING CORP
NYSE
Oil & Gas Drilling
$844.19M$59.94-1.25%$482.65M3.82x0.92
SDRL
SEADRILL LTD
NYSE
Oil & Gas Drilling
$3.38B$42.89-1.83%$760.00M5.26x0.39
DO
DIAMOND OFFSHORE DRILLING INC
NYSE
Oil & Gas Drilling
$1.23B$12.05-2.35%$89.45M25.10x1.29
ICD
INDEPENDENCE CONTRACT DRILLING INC
NYSE
Oil & Gas Drilling
$26.90M$1.91-4.02%$61.67M-3.90x0.97
RIG
TRANSOCEAN LTD
NYSE
Oil & Gas Drilling
$3.58B$4.67-3.11%$449.00M-3.77x0.95
BORR
BORR DRILLING LTD
NYSE
Oil & Gas Drilling
$1.57B$6.21-4.17%$350.70M69.00x2.13
NBR
NABORS INDUSTRIES LTD
NYSE
Oil & Gas Drilling
$750.00M$79.18-3.79%$898.01M-14.42x12.24

Oil & Gas Drilling Stocks FAQ

What are the best oil & gas drilling stocks to buy right now in Feb 2024?

According to Zen Score, the 3 best oil & gas drilling stocks to buy right now are:

1. Patterson Uti Energy (NASDAQ:PTEN)


Patterson Uti Energy (NASDAQ:PTEN) is the top oil & gas drilling stock with a Zen Score of 55, which is 26 points higher than the oil & gas drilling industry average of 29. It passed 21 out of 38 due diligence checks and has strong fundamentals. Patterson Uti Energy has seen its stock lose -12.28% over the past year, overperforming other oil & gas drilling stocks by 4 percentage points.

Patterson Uti Energy has an average 1 year price target of $16.55, an upside of 43% from Patterson Uti Energy's current stock price of $11.57.

Patterson Uti Energy stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 11 analysts covering Patterson Uti Energy, 63.64% have issued a Strong Buy rating, 18.18% have issued a Buy, 18.18% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

2. Helmerich & Payne (NYSE:HP)


Helmerich & Payne (NYSE:HP) is the second best oil & gas drilling stock with a Zen Score of 41, which is 12 points higher than the oil & gas drilling industry average of 29. It passed 15 out of 38 due diligence checks and has strong fundamentals. Helmerich & Payne has seen its stock lose -7.03% over the past year, overperforming other oil & gas drilling stocks by 9 percentage points.

Helmerich & Payne has an average 1 year price target of $43.71, an upside of 15.61% from Helmerich & Payne's current stock price of $37.81.

Helmerich & Payne stock has a consensus Hold recommendation according to Wall Street analysts. Of the 7 analysts covering Helmerich & Payne, 28.57% have issued a Strong Buy rating, 0% have issued a Buy, 42.86% have issued a hold, while 0% have issued a Sell rating, and 28.57% have issued a Strong Sell.

3. Noble (NYSE:NE)


Noble (NYSE:NE) is the third best oil & gas drilling stock with a Zen Score of 37, which is 8 points higher than the oil & gas drilling industry average of 29. It passed 15 out of 38 due diligence checks and has average fundamentals. Noble has seen its stock return 13.88% over the past year, overperforming other oil & gas drilling stocks by 30 percentage points.

Noble has an average 1 year price target of $58.33, an upside of 34.66% from Noble's current stock price of $43.32.

Noble stock has a consensus Buy recommendation according to Wall Street analysts. Of the 3 analysts covering Noble, 33.33% have issued a Strong Buy rating, 33.33% have issued a Buy, 33.33% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

What are the oil & gas drilling stocks with highest dividends?

Out of 2 oil & gas drilling stocks that have issued dividends in the past year, the 2 oil & gas drilling stocks with the highest dividend yields are:

1. Helmerich & Payne (NYSE:HP)


Helmerich & Payne (NYSE:HP) has an annual dividend yield of 4.79%, which is 2 percentage points higher than the oil & gas drilling industry average of 2.75%. Helmerich & Payne's dividend payout is not stable, having dropped more than 10% two times in the last 10 years. Helmerich & Payne's dividend has not shown consistent growth over the last 10 years.

Helmerich & Payne's dividend payout ratio of 44.5% indicates that its high dividend yield is sustainable for the long-term.

2. Patterson Uti Energy (NASDAQ:PTEN)


Patterson Uti Energy (NASDAQ:PTEN) has an annual dividend yield of 2.77%, which is the same as the oil & gas drilling industry average of 2.75%. Patterson Uti Energy's dividend payout is not stable, having dropped more than 10% two times in the last 10 years. Patterson Uti Energy's dividend has not shown consistent growth over the last 10 years.

Patterson Uti Energy's dividend payout ratio of 23.7% indicates that its dividend yield is sustainable for the long-term.

Why are oil & gas drilling stocks down?

Oil & gas drilling stocks were down -2.46% in the last day, and down -3.66% over the last week.

We couldn't find a catalyst for why oil & gas drilling stocks are down.

What are the most undervalued oil & gas drilling stocks?

Based on WallStreetZen's Valuation Score, the 3 most undervalued oil & gas drilling stocks right now are:

1. Patterson Uti Energy (NASDAQ:PTEN)


Patterson Uti Energy (NASDAQ:PTEN) is the most undervalued oil & gas drilling stock based on WallStreetZen's Valuation Score. Patterson Uti Energy has a valuation score of 57, which is 33 points higher than the oil & gas drilling industry average of 24. It passed 4 out of 7 valuation due diligence checks.

Patterson Uti Energy's stock has dropped -12.28% in the past year. It has overperformed other stocks in the oil & gas drilling industry by 4 percentage points.

2. Noble (NYSE:NE)


Noble (NYSE:NE) is the second most undervalued oil & gas drilling stock based on WallStreetZen's Valuation Score. Noble has a valuation score of 43, which is 19 points higher than the oil & gas drilling industry average of 24. It passed 3 out of 7 valuation due diligence checks.

Noble's stock has gained 13.88% in the past year. It has overperformed other stocks in the oil & gas drilling industry by 30 percentage points.

3. Precision Drilling (NYSE:PDS)


Precision Drilling (NYSE:PDS) is the third most undervalued oil & gas drilling stock based on WallStreetZen's Valuation Score. Precision Drilling has a valuation score of 43, which is 19 points higher than the oil & gas drilling industry average of 24. It passed 3 out of 7 valuation due diligence checks.

Precision Drilling's stock has gained 5.49% in the past year. It has overperformed other stocks in the oil & gas drilling industry by 22 percentage points.

Are oil & gas drilling stocks a good buy now?

44.44% of oil & gas drilling stocks rated by analysts are a strong buy right now. On average, analysts expect oil & gas drilling stocks to rise by 52.26% over the next year.

What is the average p/e ratio of the oil & gas drilling industry?

The average P/E ratio of the oil & gas drilling industry is 11.01x.
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Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.