Shares of Diamond Offshore Drilling Rank the Highest in Terms of Forward P/E Ratio in the Oil & Gas Drilling Industry (DO, RIG, RDC, NE, ESV)
Below are the three companies in the Oil & Gas Drilling industry with the highest forward price to earnings (P/E) ratios. Forward P/E uses estimated earnings to compare relative value among companies in the same industry. Generally, the lower the forward P/E, the more undervalued a company is believed to be.
Diamond Offshore Drilling ranks highest with a a forward P/E ratio of 39.17. Following is Transocean with a a forward P/E ratio of 20.34. Rowan ranks third highest with a a forward P/E ratio of 7.50.
Noble follows with a a forward P/E ratio of 6.64, and ENSCO International rounds out the top five with a a forward P/E ratio of 4.35.
SmarTrend recommended that subscribers consider buying shares of Diamond Offshore Drilling on January 29th, 2016 as our technology indicated a new Uptrend was in progress when shares hit $18.34. Since that recommendation, shares of Diamond Offshore Drilling have risen 36.5%. We continue to monitor Diamond Offshore Drilling for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: highest forward p/e ratio Diamond Offshore Drilling Transocean rowan Noble ensco international