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U.S. Oil and Gas Drilling Industry Analysis

UpdatedJan 02, 2026
DataAggregated Company Financials
Companies10
  • 7D2.5%
  • 3M9.8%
  • 1Y-8.0%
  • YTDn/a

Over the last 7 days, the Oil and Gas Drilling industry has risen 2.2%, driven by gains from every company within the industry. In contrast, the industry has lost 4.7% in the last 12 months. Looking forward, earnings are forecast to grow by 53% annually.

Industry Valuation and Performance

Has the U.S. Oil and Gas Drilling Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 02 Jan 2026US$22.1bUS$23.7b-US$2,231,281,000.0012.9x-9.9x0.9x
Sun, 30 Nov 2025US$22.3bUS$23.7b-US$2,231,281,000.0011.5x-10x0.9x
Tue, 28 Oct 2025US$21.9bUS$23.3b-US$1,084,402,000.0016.3x-20.2x0.9x
Thu, 25 Sep 2025US$19.3bUS$23.5b-US$2,026,761,000.0016.3x-9.5x0.8x
Sat, 23 Aug 2025US$17.2bUS$23.5b-US$2,024,944,000.0014.4x-8.5x0.7x
Mon, 21 Jul 2025US$16.7bUS$22.9b-US$423,533,000.009.6x-39.4x0.7x
Wed, 18 Jun 2025US$18.2bUS$22.9b-US$423,533,000.0010.2x-43x0.8x
Fri, 16 May 2025US$16.1bUS$22.9b-US$376,227,000.007x-42.9x0.7x
Sun, 13 Apr 2025US$13.8bUS$22.4b-US$8,645,000.006x-1601.8x0.6x
Tue, 11 Mar 2025US$17.4bUS$22.8bUS$87.3m6.9x199.6x0.8x
Thu, 06 Feb 2025US$22.9bUS$23.0bUS$852.9m7.7x26.9x1x
Sat, 04 Jan 2025US$23.3bUS$23.1bUS$782.8m7.8x29.7x1x
Mon, 02 Dec 2024US$23.2bUS$22.2bUS$699.8m6.3x33.2x1x
Wed, 30 Oct 2024US$22.5bUS$21.1bUS$975.9m6.8x23.1x1.1x
Fri, 27 Sep 2024US$24.0bUS$20.8bUS$2.0b8.6x12.3x1.2x
Sun, 25 Aug 2024US$27.1bUS$21.8bUS$1.7b9.1x16.1x1.2x
Tue, 23 Jul 2024US$31.5bUS$21.0bUS$1.6b11.6x20.3x1.5x
Thu, 20 Jun 2024US$29.2bUS$21.0bUS$1.6b10.7x18.8x1.4x
Sat, 18 May 2024US$32.0bUS$21.0bUS$1.6b11.6x20.7x1.5x
Mon, 15 Apr 2024US$32.5bUS$20.0bUS$1.2b12.2x26.7x1.6x
Wed, 13 Mar 2024US$27.4bUS$18.5bUS$915.8m11.3x30x1.5x
Fri, 09 Feb 2024US$25.5bUS$17.4bUS$9.9m15.6x2586.5x1.5x
Sun, 07 Jan 2024US$27.2bUS$17.5b-US$34,902,000.0015.7x-779.6x1.6x
Tue, 05 Dec 2023US$28.2bUS$17.5b-US$34,902,000.0017.3x-809.2x1.6x
Thu, 02 Nov 2023US$28.8bUS$17.1bUS$185.8m14.8x155.2x1.7x
Sat, 30 Sep 2023US$33.2bUS$16.7bUS$299.5m16.6x110.9x2x
Mon, 28 Aug 2023US$28.7bUS$16.7bUS$299.5m10.1x95.9x1.7x
Wed, 26 Jul 2023US$30.3bUS$15.7bUS$73.9m21.8x410x1.9x
Fri, 23 Jun 2023US$23.3bUS$15.7bUS$73.9m16.6x314.7x1.5x
Sun, 21 May 2023US$22.2bUS$15.7bUS$73.9m16.6x300.1x1.4x
Tue, 18 Apr 2023US$24.8bUS$14.3b-US$501,182,000.0026.9x-49.5x1.7x
Thu, 16 Mar 2023US$22.7bUS$14.3b-US$508,285,000.0025.3x-44.6x1.6x
Sat, 11 Feb 2023US$28.3bUS$13.7b-US$583,065,000.0032.6x-48.5x2.1x
Mon, 09 Jan 2023US$24.7bUS$12.9b-US$1,194,661,000.0031.6x-20.7x1.9x
Price to Earnings Ratio

-20.7x


Total Market Cap: US$24.7bTotal Earnings: -US$1,194,661,000.00Total Revenue: US$12.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Oil and Gas Drilling Industry Price to Earnings3Y Average -66x202420252026
Current Industry PE
  • Investors are pessimistic on the American Oil and Gas Drilling industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The 3-year average PS ratio of 1.3x is higher than the industry's current PS ratio of 0.93x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Drilling industry have deteriorated over the last three years.
  • Meanwhile revenues for these companies have grown 23% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has caused losses to expand.

Industry Comparison

How does U.S. Oil and Gas Drilling compare with similar industries?

US Market-1.43%
Energy1.02%
Energy Services1.01%
Oil and Gas Drilling2.51%
Oil and Gas Services0.85%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
RIG TransoceanUS$4.132.7%
+US$121.2m		4.3%PS1.2x
SDRL SeadrillUS$34.604.9%
+US$101.7m		-10.7%PE63.5x
PTEN Patterson-UTI EnergyUS$6.114.4%
+US$98.6m		-28.7%PS0.5x
HP Helmerich & PayneUS$28.683.0%
+US$81.7m		-13.4%PS0.8x
VAL ValarisUS$50.401.8%
+US$61.9m		12.7%PE8.8x

Latest News

RIG
US$4.13
Transocean
7D
2.7%
1Y
4.3%

RIG: Offshore Contract Momentum Will Likely Prove Vulnerable To Prolonged Weak Crude Prices

Analysts have raised their price target on Transocean from 2.50 dollars to 3.00 dollars, citing increasingly positive offshore drilling contract activity. However, they caution that lower crude prices could still delay a full recovery in dayrates.
BORR
US$4.03
Borr Drilling
7D
1.5%
1Y
-0.2%

BORR Will Balance New Rig Acquisition And Offshore Recovery Uncertainty

Analysts have lifted their price target on Borr Drilling to $3.75 from $2.80, citing improving sentiment around offshore drilling activity and new contract signings, while acknowledging that persistently low crude prices could still delay a full recovery. Analyst Commentary Recent Street research reflects a cautiously constructive stance on Borr Drilling, with modest price target increases tempered by lingering concerns over the pace and durability of the offshore recovery.
HP
US$28.68
Helmerich & Payne
7D
3.0%
1Y
-13.4%
PTEN
US$6.11
Patterson-UTI Energy
7D
4.4%
1Y
-28.7%

PTEN: Recent Earnings Strength Will Support Upside Despite Completions Headwinds

The analyst price target for Patterson-UTI Energy has been lifted from $8.00 to $9.00 per share, as analysts point to better than expected Q3 results, stronger than forecast Q4 guidance, and modestly improved growth expectations, despite lingering concerns about a still softening completions market and medium term performance risk. Analyst Commentary Recent Street research highlights a widening dispersion in views on Patterson-UTI Energy, with bullish analysts focusing on the upside from stronger near term execution and improving visibility into 2025, even as others remain cautious on the medium term completions backdrop.
NBR
US$54.30
Nabors Industries
7D
3.2%
1Y
-12.0%

NBR: International Expansion And Deleveraging Will Likely Balance Offshore Cycle Headwinds

Analysts have lifted their fair value estimate for Nabors Industries to $56.50 from $51.13, reflecting a blend of higher Street price targets driven by solid Q3 international growth, improved leverage following the $625M Quail Tools divestiture, and updated guidance that supports modestly stronger margin expectations despite more tempered long term revenue growth. Analyst Commentary Street research revisions highlight a more constructive view on Nabors Industries, with multiple firms lifting price targets in response to recent portfolio moves and updated guidance.
VAL
US$50.40
Valaris
7D
1.8%
1Y
12.7%
NE
US$28.24
Noble
7D
0.7%
1Y
-14.3%

NE: Future Earnings Power And Index Inclusion Will Drive Upside

Analysts have modestly reduced their price target on Noble to reflect a slightly lower fair value of approximately 38 dollars. This adjustment is offset by expectations for stronger profit margins and a more attractive future earnings multiple.
SDRL
US$34.60
Seadrill
7D
4.9%
1Y
-10.7%

SDRL: Share Repurchases And Rising Profitability Will Support Strong Future Upside

Analysts have modestly lowered their price target on Seadrill to reflect a slightly higher profit outlook, offset by a reduced fair value estimate of approximately 4 percent and a marginally softer long term growth profile. What's in the News Seadrill has completed its previously announced share buyback program, repurchasing a total of 6,714,252 shares, equivalent to 9.86% of shares outstanding, for $292 million under the May 16, 2024 authorization (company filing).