Oil Stock Report

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7 Oil Service Stocks Situated to Strive


Oil service stocks can be a great way to get in on some energy stock plays. David Alton Clark has put together his top 7 oil service stock picks.

Schlumberger Limited (SLB) and its subsidiaries supply technology, integrated project management, and information solutions to the oil and gas industry worldwide.
Schlumberger recently reported second-quarter 2011 revenue of $9.62 billion versus $8.72 billion in the first quarter of 2011, and $5.94 billion in the second quarter of 2010. Income from continuing operations attributable to Schlumberger, excluding charges, was $1.18 billion—an increase of 22% sequentially and 45% year-on-year. Diluted earnings-per-share from continuing operations, excluding charges, was $0.87 versus $0.71 in the previous quarter, and $0.68 in the second quarter of 2010.

Halliburton Company (HAL) provides various products and services to the energy industry for the exploration, development, and production of oil and natural gas worldwide.
Halliburton recently announced net income for the second quarter of 2011 was $747 million, or $0.81 per diluted share, excluding employee separation costs of $8 million, after-tax, or $0.01 per diluted share. Reported net income for the second quarter of 2011 was $739 million, or $0.80 per diluted share. This compares to net income for the first quarter of 2011 of $511 million, or $0.56 per diluted share. The first quarter of 2011 results were negatively impacted by $46 million, after-tax, or $0.05 per diluted share, related primarily to reserving certain assets as a result of political sanctions in Libya. Net income for the second quarter of 2010 was $480 million, or $0.53 per diluted share.

National Oilwell Varco, Inc. (NOV) designs, constructs, manufactures, and sells systems, components, and products used in oil and gas drilling and production; provides oilfield services and supplies; and distributes products, and provides supply chain integration services to the upstream oil and gas industry worldwide.
National Oilwell and Ameron International Corporation (AMN) have entered into an agreement under which NOV will acquire Ameron in an all cash transaction that values Ameron at approximately $772 million. Under the agreement, Ameron’s stockholders would receive $85.00 per share in cash in return for each of the approximately 9.1 million shares outstanding.

Read the entire article here: http://turnkeyoil.com/2011/07/26/7-oil-service-stocks-situated-to-strive/