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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
Performance Score
Market Cap
Revenue
EBITDA
Earnings
EPS
Revenue Growth Y/Y
Revenue Growth 5Y
Earnings Growth Y/Y
Earnings Growth 5Y
Earnings Date
SDRL
SEADRILL LTD
$3.62B$1.60B$558.00M$317.00M$4.1357.78%N/A-13.96%N/A2024-08-13
PTEN
PATTERSON UTI ENERGY INC
$3.96B$4.87B$1.20B$197.85M$0.6366.04%8.59%-52.27%N/A2024-07-25
NE
NOBLE CORP PLC
$6.26B$2.62B$883.16M$469.32M$3.3544.24%N/A1.21%N/A
HP
HELMERICH & PAYNE INC
$3.29B$2.75B$896.21M$352.92M$3.512.93%-0.42%15.08%39.69%2024-07-24
PDS
PRECISION DRILLING CORP
$941.34M$1.38B$423.35M$166.62M$11.986.06%3.45%117.00%N/A2024-07-25
DO
DIAMOND OFFSHORE DRILLING INC
$1.56B$1.10B$184.57M-$40.32M-$0.4023.87%N/AN/AN/A2024-08-05
RIG
TRANSOCEAN LTD
$4.29B$2.95B$641.00M-$391.00M-$0.4911.68%-1.06%N/AN/A2024-07-29
BORR
BORR DRILLING LTD
$1.66B$833.60M$391.20M$43.90M$0.1856.16%40.81%N/AN/A
NBR
NABORS INDUSTRIES LTD
$601.03M$3.00B$807.38M-$95.34M-$13.814.00%-0.77%N/AN/A2024-07-23
ICD
INDEPENDENCE CONTRACT DRILLING INC
$20.99M$192.99M$32.73M-$46.70M-$3.31-10.44%1.71%N/AN/A2024-08-01
SOC
SABLE OFFSHORE CORP
$924.76MN/AN/AN/AN/AN/AN/AN/AN/A

Oil & Gas Drilling Stocks FAQ

What are the best oil & gas drilling stocks to buy right now in Jun 2024?

According to Zen Score, the 3 best oil & gas drilling stocks to buy right now are:

1. Seadrill (NYSE:SDRL)


Seadrill (NYSE:SDRL) is the top oil & gas drilling stock with a Zen Score of 52, which is 23 points higher than the oil & gas drilling industry average of 29. It passed 17 out of 33 due diligence checks and has strong fundamentals. Seadrill has seen its stock return 30.05% over the past year, overperforming other oil & gas drilling stocks by 29 percentage points.

Seadrill has an average 1 year price target of $71.00, an upside of 44.43% from Seadrill's current stock price of $49.16.

Seadrill stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 3 analysts covering Seadrill, 66.67% have issued a Strong Buy rating, 33.33% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

2. Patterson Uti Energy (NASDAQ:PTEN)


Patterson Uti Energy (NASDAQ:PTEN) is the second best oil & gas drilling stock with a Zen Score of 46, which is 17 points higher than the oil & gas drilling industry average of 29. It passed 17 out of 38 due diligence checks and has strong fundamentals. Patterson Uti Energy has seen its stock lose -15% over the past year, underperforming other oil & gas drilling stocks by -16 percentage points.

Patterson Uti Energy has an average 1 year price target of $14.86, an upside of 50.68% from Patterson Uti Energy's current stock price of $9.86.

Patterson Uti Energy stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 7 analysts covering Patterson Uti Energy, 57.14% have issued a Strong Buy rating, 28.57% have issued a Buy, 14.29% 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 41, which is 12 points higher than the oil & gas drilling industry average of 29. It passed 17 out of 38 due diligence checks and has strong fundamentals. Noble has seen its stock return 11.98% over the past year, overperforming other oil & gas drilling stocks by 11 percentage points.

Noble has an average 1 year price target of $57.25, an upside of 30.56% from Noble's current stock price of $43.85.

Noble stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 4 analysts covering Noble, 75% have issued a Strong Buy rating, 0% 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 5.23%, which is 2 percentage points higher than the oil & gas drilling industry average of 3.05%. 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 3.25%, which is the same as the oil & gas drilling industry average of 3.05%. 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 0.79% in the last day, and down -4.06% 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 57, which is 39 points higher than the oil & gas drilling industry average of 18. It passed 4 out of 7 valuation due diligence checks.

Patterson Uti Energy's stock has dropped -15% in the past year. It has underperformed other stocks in the oil & gas drilling industry by -16 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 43, which is 25 points higher than the oil & gas drilling industry average of 18. It passed 3 out of 7 valuation due diligence checks.

Precision Drilling's stock has gained 42.62% in the past year. It has overperformed other stocks in the oil & gas drilling industry by 41 percentage points.

3. Seadrill (NYSE:SDRL)


Seadrill (NYSE:SDRL) is the third most undervalued oil & gas drilling stock based on WallStreetZen's Valuation Score. Seadrill has a valuation score of 43, which is 25 points higher than the oil & gas drilling industry average of 18. It passed 3 out of 7 valuation due diligence checks.

Seadrill's stock has gained 30.05% in the past year. It has overperformed other stocks in the oil & gas drilling industry by 29 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 50.25% 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 6.4x.
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