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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 ScorePriceValuation
FinancialsForecastEarnings & RevenueDividendsOwnershipTechnicals
Ticker
Company
Price
Valuation Score
Graham Fair Value
Graham Fair Value %
P/E
Forward P/E
P/S
P/B
PEG
Free Cash Flow
Free Cash Flow Yield
Book Value
BVPS
EV
EV/EBITDA
PTEN
PATTERSON UTI ENERGY INC
$10.68$27.95-61.79%12.14x5.56x0.72x0.91x0.16x$416.72M13.96%$4.81B17.22$5.51B5.05
HP
HELMERICH & PAYNE INC
$38.47$38.130.89%10.96x9.25x1.38x1.35x0.71x$357.25M9.40%$2.80B28.38$4.08B4.55
PDS
PRECISION DRILLING CORP
$71.12$145.31-51.06%5.94x4.83x0.74x0.86x0.31x$238.64M23.41%$1.19B82.66$1.73B4.09
NE
NOBLE CORP PLC
$45.29$60.85-25.57%13.01xN/A2.42x1.65x0.38x$164.76M2.63%$3.92B28.34$6.69B7.67
RIG
TRANSOCEAN LTD
$5.57N/AN/A-11.37x79.57x1.55x0.43xN/A-$304.00M-6.66%$10.52B12.85$11.11B17.34
SDRL
SEADRILL LTD
$49.99N/AN/A11.82xN/A2.45x1.24xN/A$200.00M5.43%$2.98B40.47$3.56B6.71
DO
DIAMOND OFFSHORE DRILLING INC
$12.98N/AN/A-29.50xN/A1.25x2.06xN/A-$119.67M-9.05%$644.85M6.33$1.85B12.28
BORR
BORR DRILLING LTD
$5.54N/AN/A61.56xN/A1.75x1.42xN/A-$164.70M-12.17%$984.00M4.03$3.00B8.55
ICD
INDEPENDENCE CONTRACT DRILLING INC
$1.76N/AN/A-0.53xN/A0.13x0.15xN/A$32.14M125.91%$173.45M11.96$191.73M5.86
NBR
NABORS INDUSTRIES LTD
$74.23N/AN/A-5.38x3.39x0.23x2.47xN/A$81.96M12.03%$286.34M31.21$2.81B3.48
1

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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