Patterson-UTI Energy, Inc. - Common Stock (PTEN)

The brokerage said public exploration and production companies' responses to the pullback in crude prices have been more pronounced than initially expected.

The company posted first-quarter revenue of $1.28 billion, which was higher than the $1.18 billion expected by analysts.

These high-yield dividend stocks all have growing earnings and buy ratings from Wall Street.

The company’s quarterly revenue fell 26.6% to $1.16 billion compared to last year. Analysts, on average, expected the company to post $1.25 billion in revenue.

Goldman Sachs recently boosted these three stocks on the back of their 2025 macro outlook report, connecting the dots for investors.

While the future of the oil and gas industry is evolving, there remains a strong case for investing in oil drilling stocks, particularly for investors with a long-term perspective.

Schlumberger N.V. and ADNOC Drilling form JV with Patterson-UTI Energy to accelerate UAE's unconventional oil and gas program, targeting 144 wells by 2025.

With the world continuing to depend on hydrocarbons, these discounted oil stocks offer investors an enticing narrative.

Patterson-UTI subsidiary inks term sheet with ADNOC Drilling for minority equity interest in newly formed Turnwell Industries.