Stocks on the move: M, TRNC, COTY >>> READ MORE

Invest Like Goldman Sachs in Oil Services

These 5 companies could ride a turnaround in activity

      View All  

Cameron International

Cameron International NYSE:CAMWhile some oil service firms have suffered during the past few quarters in the wake of lowered drilling activity, Cameron International (NYSE:CAM) has been resilient. That’s because in addition to its onshore products and services, the company has shifted focus toward the more profitable deepwater and offshore drilling market.

However, with the onshore market beginning to turn around, Cameron could provide a powerful one-two punch for investors as it still is a major supplier of valves, compressors, blowout preventers and other flow-control equipment used in horizontal rigs.

Already, CAM’s efforts on both fronts are beginning to pay off.

Cameron saw its profits more than double last quarter. Additionally, its backlog of new business rose to $8.6 billion — a company record. At roughly $64, Cameron shares can be had for just 21 times earnings. However, that’s not too pricey considering analysts estimate that CAM’s profits will jump 30% next year.

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC