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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
$10.686,861,978-50.64%11.0811.3711.6211.2012.4535.9420.2512.8813.568.14-0.27-0.17-0.101.47
HP
HELMERICH & PAYNE INC
$38.471,091,668-20.35%40.1541.0940.6838.6039.8237.068.1710.706.664.00-0.68-0.19-0.491.46
PDS
PRECISION DRILLING CORP
$71.1247,96910.44%69.6770.3867.0762.1162.3954.9859.7657.4051.2350.580.660.77-0.111.37
NE
NOBLE CORP PLC
$45.29823,8412.49%45.5046.9446.4845.7647.5944.2316.6711.4831.1417.21-0.78-0.44-0.340.84
RIG
TRANSOCEAN LTD
$5.5715,982,795-23.45%5.645.855.745.706.6244.4028.9620.6436.1321.58-0.14-0.07-0.071.68
SDRL
SEADRILL LTD
$49.99541,381-19.18%49.5650.4548.8346.6445.6251.2935.8623.1829.4015.64-0.120.17-0.280.70
DO
DIAMOND OFFSHORE DRILLING INC
$12.981,322,45626.01%12.9413.3313.0112.7013.4147.9226.2114.6634.7917.57-0.18-0.07-0.121.22
BORR
BORR DRILLING LTD
$5.542,449,7256.96%5.485.616.106.416.7343.7720.4213.6733.3314.59-0.22-0.230.001.48
ICD
INDEPENDENCE CONTRACT DRILLING INC
$1.7622,43324.19%1.861.901.832.012.4037.786.228.851.377.11-0.010.00-0.021.03
NBR
NABORS INDUSTRIES LTD
$74.23187,111-3.25%75.5977.7982.1081.6195.8841.9312.139.7824.4722.47-2.97-2.45-0.531.84
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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 return 3.59% over the past year, underperforming other oil & gas drilling stocks by -11 percentage points.

Patterson Uti Energy has an average 1 year price target of $15.63, an upside of 46.3% from Patterson Uti Energy's current stock price of $10.68.

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 23.78% over the past year, overperforming other oil & gas drilling stocks by 9 percentage points.

Helmerich & Payne has an average 1 year price target of $43.43, an upside of 12.89% from Helmerich & Payne's current stock price of $38.47.

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 57.55% over the past year, overperforming other oil & gas drilling stocks by 43 percentage points.

Precision Drilling has an average 1 year price target of $81.00, an upside of 13.89% from Precision Drilling's current stock price of $71.12.

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 4.7%, which is 2 percentage points higher than the oil & gas drilling industry average of 2.79%. 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%, which is the same as the oil & gas drilling industry average of 2.79%. 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 up?

Oil & gas drilling stocks were up 2.95% in the last day, and down -2.6% over the last week.

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

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 gained 3.59% in the past year. It has underperformed other stocks in the oil & gas drilling industry by -11 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 57.55% in the past year. It has overperformed other stocks in the oil & gas drilling industry by 43 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 27.47% in the past year. It has overperformed other stocks in the oil & gas drilling industry by 13 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 35.7% 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 8.02x.
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