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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
Company
Country
Market Cap
Shares
Institutional %
Insider %
Net Insider (L12M)
Net Insider (L3M)
PTEN
PATTERSON UTI ENERGY INC
United States
$4.92B408,192,23682.48%17.52%Net SellingNet Selling
NE
NOBLE CORP PLC
United States
$6.87B142,766,79468.01%9.87%Net SellingNet Selling
HP
HELMERICH & PAYNE INC
United States
$4.17B98,826,56893.19%6.81%Net SellingNet Selling
PDS
PRECISION DRILLING CORP
Canada
$959.54M14,336,53948.87%0.00%
RIG
TRANSOCEAN LTD
Switzerland
$4.79B766,655,18053.76%46.24%Net BuyingNet Buying
SDRL
SEADRILL LTD
Bermuda
$3.69B73,705,34381.63%0.00%
ICD
INDEPENDENCE CONTRACT DRILLING INC
United States
$29.31M15,266,77311.55%88.45%
DO
DIAMOND OFFSHORE DRILLING INC
United States
$1.38B102,467,10790.79%0.89%Net SellingNet Selling
BORR
BORR DRILLING LTD
Bermuda
$1.70B252,582,03639.25%0.00%
NBR
NABORS INDUSTRIES LTD
Bermuda
$833.16M9,472,04827.43%72.57%Net SellingNet Selling

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 5.15% over the past year.

Patterson Uti Energy has an average 1 year price target of $16.30, an upside of 35.27% from Patterson Uti Energy's current stock price of $12.05.

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 23.45% over the past year, overperforming other oil & gas drilling stocks by 18 percentage points.

Noble has an average 1 year price target of $56.50, an upside of 17.41% from Noble's current stock price of $48.12.

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 19.56% over the past year, overperforming other oil & gas drilling stocks by 14 percentage points.

Helmerich & Payne has an average 1 year price target of $43.71, an upside of 3.51% from Helmerich & Payne's current stock price of $42.23.

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, 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 4.29%, which is 2 percentage points higher than the oil & gas drilling industry average of 2.52%. 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 2.66%, which is the same as the oil & gas drilling industry average of 2.52%. 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 2.11% in the last day, and up 0.25% 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 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 5.15% in the past year. It has performed in line with other stocks in the oil & gas drilling industry.

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 23.45% in the past year. It has overperformed other stocks in the oil & gas drilling industry by 18 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 34.8% 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 28.73% 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 10.21x.
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