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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
$11.25$27.95-59.75%12.78x5.86x0.76x0.95x0.17x$416.72M13.25%$4.81B17.22$5.74B5.26
PDS
PRECISION DRILLING CORP
$72.30$145.31-50.24%6.04x4.92x0.75x0.87x0.32x$238.64M23.02%$1.19B82.66$1.75B4.13
NE
NOBLE CORP PLC
$46.29$60.85-23.93%13.30xN/A2.47x1.69x0.39x$164.76M2.57%$3.92B28.34$6.83B7.83
HP
HELMERICH & PAYNE INC
$40.39$38.135.92%11.51x9.71x1.45x1.42x0.75x$357.25M8.96%$2.80B28.38$4.27B4.77
RIG
TRANSOCEAN LTD
$5.87N/AN/A-4.73x83.86x1.59x0.43xN/A-$263.00M-5.83%$10.42B13.56$10.92B24.32
SDRL
SEADRILL LTD
$50.18N/AN/A11.86xN/A2.46x1.24xN/A$200.00M5.41%$2.98B40.47$3.58B6.74
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
$13.20N/AN/A-30.00xN/A1.27x2.10xN/A-$119.67M-8.90%$644.85M6.33$1.88B12.43
BORR
BORR DRILLING LTD
$5.51N/AN/A61.22xN/A1.74x1.41xN/A-$164.70M-12.23%$984.00M4.03$2.99B8.53
NBR
NABORS INDUSTRIES LTD
$77.20N/AN/A-14.06x3.53x0.23x2.24xN/A$111.14M15.72%$326.61M35.66$2.82B3.14
1

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 63, which is 34 points higher than the oil & gas drilling industry average of 29. It passed 24 out of 38 due diligence checks and has strong fundamentals. Patterson Uti Energy has seen its stock lose -3.43% 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 $15.75, an upside of 40% from Patterson Uti Energy's current stock price of $11.25.

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 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 38.06% over the past year, overperforming other oil & gas drilling stocks by 30 percentage points.

Precision Drilling has an average 1 year price target of $81.00, an upside of 12.03% from Precision Drilling's current stock price of $72.30.

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. Noble (NYSE:NE)


Noble (NYSE:NE) is the third best oil & gas drilling stock with a Zen Score of 39, which is 10 points higher than the oil & gas drilling industry average of 29. It passed 16 out of 38 due diligence checks and has average fundamentals. Noble has seen its stock return 27.38% over the past year, overperforming other oil & gas drilling stocks by 20 percentage points.

Noble has an average 1 year price target of $58.25, an upside of 25.84% from Noble's current stock price of $46.29.

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.

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 4.48%, which is 2 percentage points higher than the oil & gas drilling industry average of 2.66%. 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 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 2.84%, which is the same as the oil & gas drilling industry average of 2.66%. 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 2.06% in the last day, and up 1.68% 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 dropped -3.43% 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 38.06% in the past year. It has overperformed other stocks in the oil & gas drilling industry by 30 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 27.38% in the past year. It has overperformed other stocks in the oil & gas drilling industry by 20 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 33.8% 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 9.15x.
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