By Bret Jensen
Oil services stocks have been standout performers over the last month (See Chart) as signs that the North American rig market is near a trough as investors realized the sector has long term growth in front of it as domestic energy production continues to expand and additional technology is needed to bring hard to reach reservoirs of energy online. Here are two stocks in the sector that have received some positive comments this week and should have upside left despite recently hitting 52 week highs.
Cameron International Corporation (CAM) provides flow equipment products, systems, and services worldwide. Its Drilling & Production Systems segment offers systems and equipment to control pressures and direct flows of oil and gas wells; and designs and manufactures structural components for land and offshore drilling rigs.
Helmerich & Payne (HP) engages in the contract drilling of oil and gas wells. It provides drilling rigs, equipments, personnel, and camps on a contract basis to explore for and develop oil and gas from onshore areas and fixed platforms, tension-leg platforms, and spars in offshore areas.
Daily columnist for RealMoney. Chief Investment Strategist (CIS) for S.A.M (Simplified Asset Management), a long/short hedge fund based in Miami, Florida from 2008 to 2011. Fund was in top five percent of long/short hedge funds for total return in its first full year(2009) ranked by Hedgeco fund database(over 450 funds in category)..
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