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Best Oil & Gas Drilling Stocks to Buy Now (2023)
Top oil & gas drilling stocks in 2023 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
$2.30B$11.047.50%$849.28M8.36x0.85
NE
NOBLE CORP PLC
NYSE
Oil & Gas Drilling
$5.66B$40.801.67%$554.65M12.25x0.37
PDS
PRECISION DRILLING CORP
NYSE
Oil & Gas Drilling
$630.79M$45.975.19%$384.62M7.97x1.16
HP
HELMERICH & PAYNE INC
NYSE
Oil & Gas Drilling
$3.44B$33.515.64%$847.26M10.99x0.58
ICD
INDEPENDENCE CONTRACT DRILLING INC
NYSE
Oil & Gas Drilling
$40.64M$2.894.33%$63.18M-7.41x1.02
RIG
TRANSOCEAN LTD
NYSE
Oil & Gas Drilling
$5.04B$6.587.34%$615.00M-5.14x0.96
NBR
NABORS INDUSTRIES LTD
NYSE
Oil & Gas Drilling
$919.51M$96.3910.08%$794.21M-6.59x8.51
SDRL
SEADRILL LTD
NYSE
Oil & Gas Drilling
$1.89B$37.834.07%$451.00MN/A0.50
BORR
BORR DRILLING LTD
NYSE
Oil & Gas Drilling
$1.90B$7.492.32%$36.10M-5.43x2.50
DO
DIAMOND OFFSHORE DRILLING INC
NYSE
Oil & Gas Drilling
$1.22B$12.053.43%$67.56M-19.44x1.19

Oil & Gas Drilling Stocks FAQ

What are the best oil & gas drilling stocks to buy right now in Jun 2023?

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 54, which is 27 points higher than the oil & gas drilling industry average of 27. It passed 20 out of 38 due diligence checks and has strong fundamentals. Patterson Uti Energy has seen its stock lose -41.06% over the past year, underperforming other oil & gas drilling stocks by -8 percentage points.

Patterson Uti Energy has an average 1 year price target of $18.00, an upside of 63.04% from Patterson Uti Energy's current stock price of $11.04.

Patterson Uti Energy stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 7 analysts covering Patterson Uti Energy, 71.43% have issued a Strong Buy rating, 0% have issued a Buy, 28.57% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

2. Noble (NYSE:NE)


Noble (NYSE:NE) is the second best oil & gas drilling stock with a Zen Score of 46, which is 19 points higher than the oil & gas drilling industry average of 27. It passed 15 out of 33 due diligence checks and has strong fundamentals. Noble has seen its stock return 10.57% over the past year, overperforming other oil & gas drilling stocks by 44 percentage points.

Noble has an average 1 year price target of $51.50, an upside of 26.23% from Noble's current stock price of $40.80.

Noble stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 2 analysts covering Noble, 50% have issued a Strong Buy rating, 50% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

3. Precision Drilling (NYSE:PDS)


Precision Drilling (NYSE:PDS) is the third best oil & gas drilling stock with a Zen Score of 42, which is 15 points higher than the oil & gas drilling industry average of 27. It passed 17 out of 38 due diligence checks and has strong fundamentals. Precision Drilling has seen its stock lose -43.91% over the past year, underperforming other oil & gas drilling stocks by -11 percentage points.

Precision Drilling has an average 1 year price target of $91.00, an upside of 97.96% from Precision Drilling's current stock price of $45.97.

Precision Drilling stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 1 analyst covering Precision Drilling, 100% have issued a Strong Buy rating, 0% have issued a Buy, 0% 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 5.09%, which is 1 percentage points higher than the oil & gas drilling industry average of 3.81%. Helmerich & Payne's dividend payout is not stable, having dropped more than 10% one 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 48.2% indicates that its 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 2.54%, which is -1 percentage points lower than the oil & gas drilling industry average of 3.81%. 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 shown consistent growth over the last 10 years.

Patterson Uti Energy's dividend payout ratio of 18.2% indicates that its dividend yield is sustainable for the long-term.

Why are oil & gas drilling stocks up?

Oil & gas drilling stocks were up 6.11% in the last day, and up 3.94% over the last week. Nabors Industries was the among the top gainers in the oil & gas drilling industry, gaining 10.08% yesterday.

Shares of oil and energy stocks are trading higher amid overall market strength on renewed economic optimism following US Senate passage of a debt limit bill and strong US jobs data. Investors also await the upcoming OPEC+ meeting.

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 34 points higher than the oil & gas drilling industry average of 23. It passed 4 out of 7 valuation due diligence checks.

Patterson Uti Energy's stock has dropped -41.06% in the past year. It has underperformed other stocks in the oil & gas drilling industry by -8 percentage points.

2. Precision Drilling (NYSE:PDS)


Precision Drilling (NYSE:PDS) is the second most undervalued oil & gas drilling stock based on WallStreetZen's Valuation Score. Precision Drilling has a valuation score of 57, which is 34 points higher than the oil & gas drilling industry average of 23. It passed 4 out of 7 valuation due diligence checks.

Precision Drilling's stock has dropped -43.91% in the past year. It has underperformed other stocks in the oil & gas drilling industry by -11 percentage points.

3. Noble (NYSE:NE)


Noble (NYSE:NE) is the third most undervalued oil & gas drilling stock based on WallStreetZen's Valuation Score. Noble has a valuation score of 43, which is 20 points higher than the oil & gas drilling industry average of 23. It passed 3 out of 7 valuation due diligence checks.

Noble's stock has gained 10.57% in the past year. It has overperformed other stocks in the oil & gas drilling industry by 44 percentage points.

Are oil & gas drilling stocks a good buy now?

50% 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 51.08% 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 2.82x.
WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

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.