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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
Price
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6m %
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Vol 1d %
PTEN
PATTERSON UTI ENERGY INC
$10.50-2.96%-8.93%-10.64%-3.14%-16.40%-6.17%42.08%-17.97%-67.41%$16.18$9.7035.09%8.25%1.477,287,702-6.57%
HP
HELMERICH & PAYNE INC
$38.21-2.85%-9.95%-9.52%-2.77%-2.72%15.72%45.40%-32.06%-63.79%$46.55$30.4117.92%25.67%1.461,106,393-4.44%
PDS
PRECISION DRILLING CORP
$68.86-1.88%1.46%1.68%13.42%19.30%42.01%168.15%47.77%-73.00%$77.21$41.5610.81%65.69%1.3776,631-6.91%
NE
NOBLE CORP PLC
$43.65-1.64%-5.21%-8.62%0.02%-11.05%14.06%N/AN/AN/A$55.34$34.8521.12%25.25%0.83741,102-47.83%
RIG
TRANSOCEAN LTD
$5.270.96%-8.82%-17.27%-1.50%-20.75%-11.43%57.78%-31.02%-87.55%$8.88$4.4540.65%18.43%1.6826,272,416-49.01%
SDRL
SEADRILL LTD
$48.22-0.68%-2.98%-4.40%11.31%17.50%33.09%N/AN/AN/A$53.58$34.4810.00%39.85%0.70739,1325.93%
DO
DIAMOND OFFSHORE DRILLING INC
$12.290.41%-6.61%-10.29%2.50%-3.23%7.06%N/AN/AN/A$17.32$10.4429.04%17.72%1.221,430,303-45.12%
BORR
BORR DRILLING LTD
$5.26-0.75%-5.90%-13.63%-12.91%-15.57%-25.18%157.84%N/AN/A$9.01$5.1941.62%1.35%1.481,224,055-69.63%
ICD
INDEPENDENCE CONTRACT DRILLING INC
$1.85-1.07%0.00%0.00%-11.90%-27.45%-38.33%-45.59%-96.54%N/A$3.45$1.6146.38%14.91%1.0455,956194.89%
NBR
NABORS INDUSTRIES LTD
$70.99-1.44%-11.41%-18.55%-13.94%-25.62%-27.44%-17.93%-60.89%-94.34%$141.47$70.4849.82%0.72%1.84232,731-0.56%

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.
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.