Sectors & IndustriesEnergyOil & Gas Drilling

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.

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

Patterson Uti Energy (NASDAQ:PTEN) is the top oil & gas drilling stock with a Zen Score of 61, which is 34 points higher than the oil & gas drilling industry average of 27. It passed 23 out of 38 due diligence checks and has strong fundamentals. Patterson Uti Energy has seen its stock lose -5.71% over the past year, underperforming other oil & gas drilling stocks by -4 percentage points.

Patterson Uti Energy has an average 1 year price target of $15.75, an upside of 40.37% from Patterson Uti Energy's current stock price of $11.22.

Patterson Uti Energy stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 8 analysts covering Patterson Uti Energy, 62.5% have issued a Strong Buy rating, 25% have issued a Buy, 12.5% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Noble (NYSE:NE) is the second best oil & gas drilling stock with a Zen Score of 37, which is 10 points higher than the oil & gas drilling industry average of 27. It passed 15 out of 38 due diligence checks and has average fundamentals. Noble has seen its stock return 13.9% over the past year, overperforming other oil & gas drilling stocks by 16 percentage points.

Noble has an average 1 year price target of $58.25, an upside of 26.05% from Noble's current stock price of $46.21.

Noble stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 4 analysts covering Noble, 50% have issued a Strong Buy rating, 25% have issued a Buy, 25% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Helmerich & Payne (NYSE:HP) is the third best oil & gas drilling stock with a Zen Score of 34, which is 7 points higher than the oil & gas drilling industry average of 27. It passed 13 out of 38 due diligence checks and has average fundamentals. Helmerich & Payne has seen its stock return 10.82% over the past year, overperforming other oil & gas drilling stocks by 13 percentage points.

Helmerich & Payne has an average 1 year price target of $43.71, an upside of 7.01% from Helmerich & Payne's current stock price of $40.85.

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, 57.14% have issued a hold, while 0% have issued a Sell rating, and 14.29% have issued a Strong Sell.

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:

Helmerich & Payne (NYSE:HP) has an annual dividend yield of 4.43%, which is 2 percentage points higher than the oil & gas drilling industry average of 2.64%. 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 dividend yield is sustainable for the long-term.

Patterson Uti Energy (NASDAQ:PTEN) has an annual dividend yield of 2.85%, which is the same as the oil & gas drilling industry average of 2.64%. 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 36.4% indicates that its dividend yield is sustainable for the long-term.

Oil & gas drilling stocks were down -0.98% in the last day, and down -8.35% over the last week.

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

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

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 86, which is 63 points higher than the oil & gas drilling industry average of 23. It passed 6 out of 7 valuation due diligence checks.

Patterson Uti Energy's stock has dropped -5.71% in the past year. It has underperformed other stocks in the oil & gas drilling industry by -4 percentage points.

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 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 13.9% in the past year. It has overperformed other stocks in the oil & gas drilling industry by 16 percentage points.

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 20 points higher than the oil & gas drilling industry average of 23. It passed 3 out of 7 valuation due diligence checks.

Precision Drilling's stock has gained 35.92% in the past year. It has overperformed other stocks in the oil & gas drilling industry by 38 percentage points.