Investors interested in Oil and Gas - Field Services stocks are likely familiar with Drilling Tools International Corp. (DTI) and Archrock Inc. (AROC). But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.

The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.

Right now, both Drilling Tools International Corp. and Archrock Inc. are sporting a Zacks Rank of # 2 (Buy). This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that these stocks have improving earnings outlooks. But this is only part of the picture for value investors.

Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.

The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.

DTI currently has a forward P/E ratio of 7.19, while AROC has a forward P/E of 19.22. We also note that DTI has a PEG ratio of 0.80. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. AROC currently has a PEG ratio of 1.60.

Another notable valuation metric for DTI is its P/B ratio of 0.85. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, AROC has a P/B of 3.45.

These metrics, and several others, help DTI earn a Value grade of A, while AROC has been given a Value grade of C.

Both DTI and AROC are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that DTI is the superior value option right now.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Drilling Tools International Corp. (DTI) : Free Stock Analysis Report

Archrock, Inc. (AROC) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research