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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
$11.004,788,194-38.88%10.9911.2611.6011.2012.4243.6948.5135.5955.4235.03-0.24-0.20-0.051.47
PDS
PRECISION DRILLING CORP
$72.7842,899-26.90%70.7670.0367.5862.5562.5458.8180.0170.2874.8963.530.930.810.121.37
HP
HELMERICH & PAYNE INC
$38.59961,61819.37%39.5040.6340.7138.6539.8038.0915.9611.6721.2813.71-0.78-0.40-0.391.46
NE
NOBLE CORP PLC
$45.641,495,47553.55%45.3246.4246.5945.8347.5446.3051.9335.1986.7660.79-0.64-0.52-0.120.84
RIG
TRANSOCEAN LTD
$5.7211,284,233-22.01%5.605.775.785.706.6048.6561.1445.3283.7860.75-0.11-0.08-0.021.68
DO
DIAMOND OFFSHORE DRILLING INC
$13.711,452,39816.85%12.9713.2713.0712.7313.3956.9279.1153.0390.5564.06-0.06-0.080.011.22
SDRL
SEADRILL LTD
$51.04488,2486.08%49.6550.2649.1546.8645.6756.4575.4056.4688.4360.190.070.11-0.050.71
BORR
BORR DRILLING LTD
$5.621,192,209-26.64%5.465.596.076.406.7046.4555.6237.15100.0066.67-0.18-0.210.041.48
ICD
INDEPENDENCE CONTRACT DRILLING INC
$1.6920,75721.74%1.821.871.821.992.3932.622.303.610.000.46-0.03-0.01-0.031.03
NBR
NABORS INDUSTRIES LTD
$75.23111,561-12.11%74.9176.6281.9481.5595.4844.0935.2923.2769.0545.95-2.62-2.54-0.081.84
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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 54, which is 25 points higher than the oil & gas drilling industry average of 29. It passed 20 out of 38 due diligence checks and has strong fundamentals. Patterson Uti Energy has seen its stock return 4.17% over the past year, underperforming other oil & gas drilling stocks by -7 percentage points.

Patterson Uti Energy has an average 1 year price target of $15.00, an upside of 36.36% from Patterson Uti Energy's current stock price of $11.00.

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. Precision Drilling (NYSE:PDS)


Precision Drilling (NYSE:PDS) is the second best oil & gas drilling stock with a Zen Score of 42, which is 13 points higher than the oil & gas drilling industry average of 29. It passed 17 out of 38 due diligence checks and has strong fundamentals. Precision Drilling has seen its stock return 50.84% over the past year, overperforming other oil & gas drilling stocks by 40 percentage points.

Precision Drilling has an average 1 year price target of $101.00, an upside of 38.77% from Precision Drilling's current stock price of $72.78.

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.

3. Helmerich & Payne (NYSE:HP)


Helmerich & Payne (NYSE:HP) is the third 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 21.39% over the past year, overperforming other oil & gas drilling stocks by 10 percentage points.

Helmerich & Payne has an average 1 year price target of $42.71, an upside of 10.69% from Helmerich & Payne's current stock price of $38.59.

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.

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 4.69%, which is 2 percentage points higher than the oil & gas drilling industry average of 2.75%. 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 2.91%, which is the same as the oil & gas drilling industry average of 2.75%. 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 50.8% indicates that its dividend yield is sustainable for the long-term.

Why are oil & gas drilling stocks up?

Oil & gas drilling stocks were up 0.47% in the last day, and up 3.58% 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 4.17% in the past year. It has underperformed other stocks in the oil & gas drilling industry by -7 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 50.84% in the past year. It has overperformed other stocks in the oil & gas drilling industry by 40 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 23.22% in the past year. It has overperformed other stocks in the oil & gas drilling industry by 12 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 39.22% 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 8.84x.
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