Complete Production Services (CPX)

[OilStockReport]

CPX is on the up and up, will it last?

Complete Production Services (CPX) offers completion and production services to oil and gas companies. This stock is up $1.94 since I wrote Complete Production Services: A Full Resource Play Provider. Completion is a one stop shop for getting oil out of the ground. Its revenues at the end of 2010 are:

Pressure Pumping - 30%
Fluid Handling - 19%
Well Servicing - 12%
Coiled Tubing - 10%
Wireline - 7%
Other - 22%
As with RPC, pressure pumping continues to be the most important variable for this group. 90% of Complete's horsepower is 5 or less years old. Since the second quarter of 2010, the pressure pumping fleet is working 18 hours a day, 7 days a week. Complete has significant market share in coiled tubing and well servicing. Complete's valuations are:

P/E Ratio - 28.71
Forward P/E Ratio - 10.96
2011 EPS Growth - 132.4%
PEG Ratio (1 Year) - .217
EPS Growth Per Annum (5 Years) - 20%
PEG Ratio (5 Year) - .60