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U.S. Oil and Gas Drilling Industry Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies10
  • 7D-0.05%
  • 3M48.5%
  • 1Y80.2%
  • YTDn/a

Last week, the Oil and Gas Drilling industry hasn't moved much but Patterson-UTI Energy is up 5.5% in that time. The past year has been better, since the industry has gained 80% in that time. Earnings are forecast to grow by 49% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 04 Mar 2026US$33.7bUS$24.1b-US$1,822,300,000.006.8x-18.5x1.4x
Fri, 30 Jan 2026US$25.7bUS$23.7b-US$2,231,281,000.0015x-11.5x1.1x
Sun, 28 Dec 2025US$21.5bUS$23.7b-US$2,231,281,000.0012.7x-9.6x0.9x
Tue, 25 Nov 2025US$21.2bUS$23.8b-US$2,309,035,000.0014.4x-9.2x0.9x
Thu, 23 Oct 2025US$19.5bUS$23.5b-US$2,026,761,000.0015x-9.6x0.8x
Sat, 20 Sep 2025US$19.7bUS$23.5b-US$2,026,761,000.0015.6x-9.7x0.8x
Mon, 18 Aug 2025US$17.2bUS$23.5b-US$2,024,944,000.0013.6x-8.5x0.7x
Wed, 16 Jul 2025US$17.6bUS$22.9b-US$423,533,000.009.8x-41.5x0.8x
Fri, 13 Jun 2025US$18.0bUS$22.9b-US$423,533,000.0010.2x-42.4x0.8x
Sun, 11 May 2025US$15.5bUS$23.0b-US$303,875,000.007x-51x0.7x
Tue, 08 Apr 2025US$13.3bUS$22.4b-US$8,645,000.005.8x-1538.1x0.6x
Thu, 06 Mar 2025US$16.5bUS$22.8bUS$87.3m6.7x189x0.7x
Sat, 01 Feb 2025US$22.9bUS$23.0bUS$852.9m7.5x26.9x1x
Mon, 30 Dec 2024US$20.4bUS$22.2bUS$698.6m5.7x29.1x0.9x
Wed, 27 Nov 2024US$23.7bUS$22.2bUS$699.8m6.2x33.8x1.1x
Fri, 25 Oct 2024US$22.7bUS$21.1bUS$975.9m7x23.3x1.1x
Sun, 22 Sep 2024US$24.4bUS$20.8bUS$2.0b9.4x12.5x1.2x
Tue, 20 Aug 2024US$27.5bUS$21.8bUS$1.7b9.2x16.3x1.3x
Thu, 18 Jul 2024US$33.0bUS$21.0bUS$1.6b11.7x21.3x1.6x
Sat, 15 Jun 2024US$30.0bUS$21.0bUS$1.6b10.3x19.3x1.4x
Mon, 13 May 2024US$31.1bUS$20.9bUS$1.5b11.7x20.3x1.5x
Wed, 10 Apr 2024US$33.8bUS$20.0bUS$1.2b12.4x27.8x1.7x
Fri, 08 Mar 2024US$26.8bUS$18.5bUS$915.8m11.2x29.3x1.4x
Sun, 04 Feb 2024US$25.3bUS$17.5b-US$37,130,000.0015.3x-680.4x1.4x
Tue, 02 Jan 2024US$27.6bUS$17.5b-US$34,902,000.0015.8x-792x1.6x
Thu, 30 Nov 2023US$27.7bUS$17.5b-US$34,902,000.0017.3x-794.6x1.6x
Sat, 28 Oct 2023US$28.7bUS$16.7bUS$253.1m15.6x113.5x1.7x
Mon, 25 Sep 2023US$32.5bUS$16.7bUS$299.5m17.4x108.5x2x
Wed, 23 Aug 2023US$29.0bUS$16.7bUS$299.5m10.2x96.7x1.7x
Fri, 21 Jul 2023US$29.3bUS$15.7bUS$73.9m21x395.8x1.9x
Sun, 18 Jun 2023US$23.2bUS$15.7bUS$73.9m16.7x313.3x1.5x
Tue, 16 May 2023US$22.1bUS$15.7bUS$73.9m16.5x298.8x1.4x
Thu, 13 Apr 2023US$24.9bUS$14.3b-US$501,182,000.0026.8x-49.7x1.7x
Sat, 11 Mar 2023US$24.9bUS$14.3b-US$508,285,000.0027.3x-48.9x1.7x
Price to Earnings Ratio

-48.9x


Total Market Cap: US$24.9bTotal Earnings: -US$508,285,000.00Total Revenue: US$14.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Oil and Gas Drilling Industry Price to Earnings3Y Average -64.9x202420252026
Current Industry PE
  • Investors are optimistic on the American Oil and Gas Drilling industry, and appear confident in long term growth rates.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.4x.
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 19% 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-0.57%
Energy1.73%
Energy Services2.16%
Oil and Gas Drilling-0.054%
Oil and Gas Services2.44%
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
PTEN Patterson-UTI EnergyUS$8.836.1%
+US$193.6m		17.6%PS0.7x

Latest News

VAL
US$90.63
Valaris
7D
-5.5%
1Y
167.6%

VAL: Planned Transocean Deal Will Leave Equity Outlook Constrained By Stretchy Earnings Multiple

Analysts have maintained their $47.00 price target for Valaris, noting that updated assumptions around discount rates, revenue growth, profit margins, and future P/E appear to offset one another at this time. What's in the News Transocean Ltd.
NBR
US$76.60
Nabors Industries
7D
-1.5%
1Y
99.4%

NBR: International Reactivations And Deleveraging Will Shape 2026 Risk Reward Balance

The analyst fair value estimate for Nabors Industries has risen from $58.25 to $71.25. This change reflects higher Street price targets in the $60 to $85 range as analysts update their models to incorporate revised assumptions for growth, margins, discount rates and future P/E ratios.
SDRL
US$42.93
Seadrill
7D
-5.0%
1Y
85.5%
PTEN
US$8.83
Patterson-UTI Energy
7D
6.1%
1Y
17.6%
BORR
US$5.80
Borr Drilling
7D
-4.6%
1Y
147.9%

BORR: Fleet Expansion And Dual Listing Will Shape A Balanced Outlook

Analysts have raised their price target on Borr Drilling from $4.00 to $6.50, citing updated assumptions for revenue growth, profit margins, discount rate, and future P/E that they consider better aligned with the current outlook for the business. What's in the News Borr Drilling completed the acquisition of five premium jack-up rigs from Noble Corporation for a total purchase price of $360 million, increasing its fleet to 29 rigs and reinforcing its position as a pure-play owner of premium jack-up rigs (Key Developments).
RIG
US$6.11
Transocean
7D
-6.6%
1Y
122.2%
NE
US$45.67
Noble
7D
-1.0%
1Y
97.4%

NE: Backlog Expansion And Buybacks Will Support A Balanced Outlook

Analysts have raised their price target on Noble from $33.60 to $40.90 as they now apply a slightly lower discount rate, assume higher revenue growth and a modestly higher profit margin, and use a richer future P/E multiple in their models. What's in the News Noble Corporation plc issued earnings guidance for full year 2026, with expected total revenue between US$2.8b and US$3.0b (Key Developments).
HP
US$33.96
Helmerich & Payne
7D
-2.2%
1Y
34.0%

HP: CEO Transition And Weaker Long Term Revenue Outlook Will Limit Upside

Analysts have lifted their fair value estimate for Helmerich & Payne from about $23.33 to roughly $25.59, citing expectations for stronger profit margins and a lower future P/E, which they note would offset softer assumed revenue growth. What's in the News CEO John Lindsay plans to retire after the March 4, 2026 Annual Meeting, with current President Raymond John “Trey” Adams set to become CEO and stand for election to the Board at that meeting, while Lindsay stays on as senior advisor through December 2026 (Key Developments).