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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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PTEN
PATTERSON UTI ENERGY INC
$10.680.85%-5.07%-13.31%5.22%-16.76%3.59%44.52%-21.30%-67.51%$16.18$9.7033.97%10.10%1.476,861,978-50.64%
HP
HELMERICH & PAYNE INC
$38.471.69%-4.75%-11.30%3.61%-6.99%23.78%46.39%-33.15%-63.89%$46.55$30.4117.36%26.53%1.461,091,668-20.35%
PDS
PRECISION DRILLING CORP
$71.121.72%-1.63%-6.43%20.62%18.53%57.55%176.95%54.61%-72.48%$77.21$41.567.89%71.13%1.3747,96910.44%
NE
NOBLE CORP PLC
$45.292.77%-2.16%-9.60%5.47%-9.87%27.47%N/AN/AN/A$55.34$35.2918.16%28.34%0.84823,8412.49%
RIG
TRANSOCEAN LTD
$5.573.72%-5.11%-16.62%11.85%-18.57%-1.42%66.77%-28.22%-87.00%$8.88$4.4537.27%25.17%1.6815,982,795-23.45%
SDRL
SEADRILL LTD
$49.992.35%-0.38%-6.28%20.28%20.02%43.77%N/AN/AN/A$53.58$34.486.70%44.98%0.70541,381-19.18%
DO
DIAMOND OFFSHORE DRILLING INC
$12.983.51%-1.67%-9.74%12.38%-3.13%22.68%N/AN/AN/A$17.32$10.7525.06%20.74%1.221,322,45626.01%
BORR
BORR DRILLING LTD
$5.545.32%0.54%-11.50%-3.65%-13.71%-17.19%171.57%N/AN/A$9.01$5.1938.51%6.74%1.482,449,7256.96%
ICD
INDEPENDENCE CONTRACT DRILLING INC
$1.76-2.76%-5.38%-7.37%-12.00%-34.81%-38.68%-48.24%-96.88%N/A$3.45$1.6148.99%9.32%1.0322,43324.19%
NBR
NABORS INDUSTRIES LTD
$74.235.50%-3.85%-17.83%-3.08%-26.38%-19.89%-14.18%-60.20%-94.20%$141.47$70.2547.53%5.67%1.84187,111-3.25%

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.
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.