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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
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Price
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6m %
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Vol 1d %
PTEN
PATTERSON UTI ENERGY INC
$11.34-1.48%-1.31%-2.99%10.20%-15.50%-9.06%81.73%-29.83%-65.74%$16.18$9.7029.89%16.91%1.476,504,96238.55%
NE
NOBLE CORP PLC
$46.330.39%-3.26%-2.87%4.46%-1.09%18.40%N/AN/AN/A$55.34$34.8516.28%32.94%0.83728,087-36.84%
HP
HELMERICH & PAYNE INC
$41.23-1.74%-0.96%-0.12%21.77%0.56%11.10%63.22%-36.09%-63.60%$46.55$30.4111.43%35.60%1.461,768,516106.32%
PDS
PRECISION DRILLING CORP
$65.83-1.48%-4.53%1.42%14.31%9.72%27.21%158.77%13.89%-74.52%$77.21$41.5614.74%58.40%1.3788,24759.53%
RIG
TRANSOCEAN LTD
$5.812.47%-3.97%-2.68%7.20%-18.17%-7.48%81.00%-39.60%-85.85%$8.88$4.4534.57%30.56%1.6720,665,42427.81%
SDRL
SEADRILL LTD
$49.950.54%-2.67%0.99%8.97%22.37%38.60%N/AN/AN/A$53.58$34.186.77%46.14%0.68490,45211.53%
ICD
INDEPENDENCE CONTRACT DRILLING INC
$1.910.00%-3.54%12.35%-7.28%-33.68%-37.99%-46.20%-96.87%N/A$3.45$1.6144.64%18.63%1.0414,550-54.15%
DO
DIAMOND OFFSHORE DRILLING INC
$13.312.86%-3.27%2.86%5.80%2.07%13.76%N/AN/AN/A$17.32$10.4423.15%27.49%1.201,569,333-7.06%
BORR
BORR DRILLING LTD
$5.642.17%-1.91%-16.94%-16.69%-16.20%-21.23%205.69%N/AN/A$9.01$5.4037.40%4.44%1.481,839,402-37.04%
NBR
NABORS INDUSTRIES LTD
$76.00-0.69%-2.86%-12.26%-3.17%-34.21%-36.86%-8.80%-61.81%-93.98%$141.47$71.4246.28%6.41%1.83201,1793.57%

Oil & Gas Drilling Stocks FAQ

What are the best oil & gas drilling stocks to buy right now in Apr 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 34 points higher than the oil & gas drilling industry average of 27. It passed 23 out of 38 due diligence checks and has strong fundamentals. Patterson Uti Energy has seen its stock lose -9.06% 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 $15.75, an upside of 38.89% from Patterson Uti Energy's current stock price of $11.34.

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. Noble (NYSE:NE)


Noble (NYSE:NE) is the second best oil & gas drilling stock with a Zen Score of 37, which is 10 points higher than the oil & gas drilling industry average of 27. It passed 15 out of 38 due diligence checks and has average fundamentals. Noble has seen its stock return 18.4% over the past year, overperforming other oil & gas drilling stocks by 21 percentage points.

Noble has an average 1 year price target of $58.25, an upside of 25.73% from Noble's current stock price of $46.33.

Noble stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 4 analysts covering Noble, 50% have issued a Strong Buy rating, 25% have issued a Buy, 25% 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 34, which is 7 points higher than the oil & gas drilling industry average of 27. It passed 13 out of 38 due diligence checks and has average fundamentals. Helmerich & Payne has seen its stock return 11.1% over the past year, overperforming other oil & gas drilling stocks by 13 percentage points.

Helmerich & Payne has an average 1 year price target of $43.71, an upside of 6.02% from Helmerich & Payne's current stock price of $41.23.

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 4.39%, which is 2 percentage points higher than the oil & gas drilling industry average of 2.62%. 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 44.5% indicates that its 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 2.82%, which is the same as the oil & gas drilling industry average of 2.62%. 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 -0.42% in the last day, and down -2.97% 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 63 points higher than the oil & gas drilling industry average of 23. It passed 6 out of 7 valuation due diligence checks.

Patterson Uti Energy's stock has dropped -9.06% in the past year. It has underperformed other stocks in the oil & gas drilling industry by -7 percentage points.

2. Noble (NYSE:NE)


Noble (NYSE:NE) is the second most undervalued oil & gas drilling stock based on WallStreetZen's Valuation Score. Noble has a valuation score of 43, which is 20 points higher than the oil & gas drilling industry average of 23. It passed 3 out of 7 valuation due diligence checks.

Noble's stock has gained 18.4% in the past year. It has overperformed other stocks in the oil & gas drilling industry by 21 percentage points.

3. Precision Drilling (NYSE:PDS)


Precision Drilling (NYSE:PDS) is the third most undervalued oil & gas drilling stock based on WallStreetZen's Valuation Score. Precision Drilling has a valuation score of 43, which is 20 points higher than the oil & gas drilling industry average of 23. It passed 3 out of 7 valuation due diligence checks.

Precision Drilling's stock has gained 27.21% in the past year. It has overperformed other stocks in the oil & gas drilling industry by 30 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 37.71% 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 9.03x.
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.