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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
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
$11.94$27.95-57.28%13.57x6.22x0.80x1.01x0.18x$416.72M12.49%$4.81B17.22$6.03B5.52
NE
NOBLE CORP PLC
$48.49$60.85-20.32%13.93xN/A2.59x1.77x0.41x$164.76M2.46%$3.92B28.34$7.15B8.19
HP
HELMERICH & PAYNE INC
$42.06N/AN/A9.99x10.11x1.47x1.51xN/A$387.26M9.29%$2.76B27.84$4.42B4.49
PDS
PRECISION DRILLING CORP
$67.29N/AN/A4.35x4.57x0.68x0.83xN/A$220.19M22.82%$1.16B80.81$1.65B3.48
RIG
TRANSOCEAN LTD
$6.28N/AN/A-5.06x89.71x1.70x0.46xN/A-$263.00M-5.45%$10.42B13.56$11.23B25.02
SDRL
SEADRILL LTD
$50.30N/AN/A11.89xN/A2.47x1.24xN/A$200.00M5.40%$2.98B40.47$3.59B6.76
ICD
INDEPENDENCE CONTRACT DRILLING INC
$1.86N/AN/A-0.69xN/A0.12x0.16xN/A$24.81M95.16%$181.58M12.96$178.61M4.48
DO
DIAMOND OFFSHORE DRILLING INC
$13.64N/AN/A-31.00xN/A1.32x2.17xN/A-$119.67M-8.61%$644.85M6.33$1.92B12.73
BORR
BORR DRILLING LTD
$6.85N/AN/A76.11xN/A2.17x1.76xN/A-$164.70M-9.84%$984.00M4.03$3.33B9.49
NBR
NABORS INDUSTRIES LTD
$86.13N/AN/A-15.69x3.94x0.26x2.50xN/A$111.14M14.09%$326.61M35.66$2.90B3.23

Oil & Gas Drilling Stocks FAQ

What are the best oil & gas drilling stocks to buy right now in Mar 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 33 points higher than the oil & gas drilling industry average of 28. It passed 23 out of 38 due diligence checks and has strong fundamentals. Patterson Uti Energy has seen its stock return 1.1% over the past year, underperforming other oil & gas drilling stocks by -1 percentage points.

Patterson Uti Energy has an average 1 year price target of $16.30, an upside of 36.52% from Patterson Uti Energy's current stock price of $11.94.

Patterson Uti Energy stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 10 analysts covering Patterson Uti Energy, 60% have issued a Strong Buy rating, 20% have issued a Buy, 20% 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 39, which is 11 points higher than the oil & gas drilling industry average of 28. It passed 16 out of 38 due diligence checks and has average fundamentals. Noble has seen its stock return 21.8% over the past year, overperforming other oil & gas drilling stocks by 19 percentage points.

Noble has an average 1 year price target of $56.50, an upside of 16.52% from Noble's current stock price of $48.49.

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 37, which is 9 points higher than the oil & gas drilling industry average of 28. It passed 14 out of 38 due diligence checks and has average fundamentals. Helmerich & Payne has seen its stock return 14.48% over the past year, overperforming other oil & gas drilling stocks by 12 percentage points.

Helmerich & Payne has an average 1 year price target of $43.71, an upside of 3.93% from Helmerich & Payne's current stock price of $42.06.

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, 42.86% have issued a hold, while 0% have issued a Sell rating, and 28.57% 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 4.3%, which is 2 percentage points higher than the oil & gas drilling industry average of 2.53%. 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 2.68%, which is the same as the oil & gas drilling industry average of 2.53%. 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 -0.24% in the last day, and up 0.13% 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 62 points higher than the oil & gas drilling industry average of 24. It passed 6 out of 7 valuation due diligence checks.

Patterson Uti Energy's stock has gained 1.1% in the past year. It has underperformed other stocks in the oil & gas drilling industry by -1 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 19 points higher than the oil & gas drilling industry average of 24. It passed 3 out of 7 valuation due diligence checks.

Noble's stock has gained 21.8% in the past year. It has overperformed other stocks in the oil & gas drilling industry by 19 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 19 points higher than the oil & gas drilling industry average of 24. It passed 3 out of 7 valuation due diligence checks.

Precision Drilling's stock has gained 34.28% in the past year. It has overperformed other stocks in the oil & gas drilling industry by 32 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 29.02% 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 10.32x.
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