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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.

Industry: Oil & Gas Drilling
OverviewZen ScorePriceValuationFinancialsForecastEarnings & RevenueDividendsOwnershipTechnicals
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PTEN
PATTERSON UTI ENERGY INC
$10.507,287,702-6.57%11.2411.5411.6711.2012.5031.208.5611.676.3412.20-0.22-0.11-0.111.47
HP
HELMERICH & PAYNE INC
$38.211,106,393-4.44%40.8341.6240.7138.5539.8433.6618.4325.795.335.33-0.390.06-0.451.46
PDS
PRECISION DRILLING CORP
$68.8676,631-6.91%68.9970.8866.6861.7562.2549.3459.4660.7953.1455.040.640.85-0.211.37
NE
NOBLE CORP PLC
$43.65741,102-47.83%45.6947.5046.4545.7147.6634.2211.2415.1312.1018.83-0.71-0.24-0.470.83
RIG
TRANSOCEAN LTD
$5.2726,272,416-49.01%5.675.965.725.706.6534.8818.2323.9115.5326.01-0.12-0.03-0.091.68
SDRL
SEADRILL LTD
$48.22739,1325.93%49.5450.7848.5746.4745.5940.9516.6322.429.8917.12-0.100.34-0.430.70
DO
DIAMOND OFFSHORE DRILLING INC
$12.291,430,303-45.12%12.9613.4912.9912.6813.4436.939.0115.617.0213.29-0.180.00-0.181.22
BORR
BORR DRILLING LTD
$5.261,224,055-69.63%5.505.656.146.426.7532.8510.2210.6610.4523.13-0.24-0.22-0.021.48
ICD
INDEPENDENCE CONTRACT DRILLING INC
$1.8555,956194.89%1.891.911.842.022.4146.1012.2514.1512.8519.330.000.01-0.011.04
NBR
NABORS INDUSTRIES LTD
$70.99232,731-0.56%76.4979.4082.4781.7696.2933.8315.2721.8933.8947.66-2.79-2.12-0.661.84
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Oil & Gas Drilling Stocks FAQ

What are the best oil & gas drilling stocks to buy right now in May 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 61, which is 32 points higher than the oil & gas drilling industry average of 29. It passed 23 out of 38 due diligence checks and has strong fundamentals. Patterson Uti Energy has seen its stock lose -6.17% over the past year, underperforming other oil & gas drilling stocks by -10 percentage points.

Patterson Uti Energy has an average 1 year price target of $15.75, an upside of 50% from Patterson Uti Energy's current stock price of $10.50.

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.

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 return 15.72% over the past year, overperforming other oil & gas drilling stocks by 11 percentage points.

Helmerich & Payne has an average 1 year price target of $43.43, an upside of 13.66% from Helmerich & Payne's current stock price of $38.21.

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.

3. Precision Drilling (NYSE:PDS)


Precision Drilling (NYSE:PDS) is the third best oil & gas drilling stock with a Zen Score of 40, which is 11 points higher than the oil & gas drilling industry average of 29. It passed 16 out of 38 due diligence checks and has average fundamentals. Precision Drilling has seen its stock return 42.01% over the past year, overperforming other oil & gas drilling stocks by 38 percentage points.

Precision Drilling has an average 1 year price target of $81.00, an upside of 17.63% from Precision Drilling's current stock price of $68.86.

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 4.74%, which is 2 percentage points higher than the oil & gas drilling industry average of 2.82%. 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 51.6% 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 3.05%, which is the same as the oil & gas drilling industry average of 2.82%. 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.

Why are oil & gas drilling stocks down?

Oil & gas drilling stocks were down -1.56% in the last day, and down -5.86% 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 86, which is 59 points higher than the oil & gas drilling industry average of 27. It passed 6 out of 7 valuation due diligence checks.

Patterson Uti Energy's stock has dropped -6.17% in the past year. It has underperformed other stocks in the oil & gas drilling industry by -10 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 71, which is 44 points higher than the oil & gas drilling industry average of 27. It passed 5 out of 7 valuation due diligence checks.

Precision Drilling's stock has gained 42.01% in the past year. It has overperformed other stocks in the oil & gas drilling industry by 38 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 16 points higher than the oil & gas drilling industry average of 27. It passed 3 out of 7 valuation due diligence checks.

Noble's stock has gained 14.06% in the past year. It has overperformed other stocks in the oil & gas drilling industry by 10 percentage points.

Are oil & gas drilling stocks a good buy now?

55.56% 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 40.49% 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 7.71x.
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