The Zacks Analyst Blog Highlights: National Oilwell Varco, Cabot Oil & Gas, Precision Drilling, Oil States International and Complete Production Services

August 12, 2011

For Immediate Release

Chicago, IL – August 12, 2011 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: National Oilwell Varco ( NOV), Cabot Oil & Gas ( COG) Precision Drilling ( PDS) Oil States International ( OIS) and Complete Production Services ( CPX).

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Here are highlights from Thursday’s Analyst Blog:

Energy Stocks to Buy If Oil Bottoms at $75

In the midst of another heavy selling day in equities, crude oil showed more surprising strength on Wednesday. This after Tuesday's action when light sweet crude traded into the $75 handle and then rebounded sharply along with equities after the FOMC policy statement.

Wednesday's surge to nearly $83 per barrel and Thursday's push above $84.50 is signaling that while stocks may be pricing in the coming recession, the oil market is not. I think it is therefore a great time to look for bargains among strong energy names.

Here are seven Zacks #1 Rank stocks that I am trading this month. Note that most are mid-cap names ($2-$10 billion market cap), which is typical of the Zacks #1 Rank (strong buy) because our model screens for stocks with rapid earnings acceleration.

Each name is listed below by market capitalization (:MC), with the stock's forward P/E, a brief description of the company's business focus, and current year/next year EPS growth rates.* Be sure to see the available reports for more detailed analysis.

National Oilwell Varco ( NOV): $25.5B MC, 13.6 P/E; a worldwide leader in the design, manufacture and sale of machinery and equipment used in oil and gas drilling and production, with many components designed specifically for rig applications in offshore, extended reach and deep land drilling. 2011/12 EPS growth of 8.6% and 27%.

Cabot Oil & Gas ( COG): $6.2B MC, 39 P/E; an independent oil and gas company engaged in the exploration, development, acquisition and exploitation of oil and gas properties located in four areas of the United States: the onshore Texas and Louisiana Gulf Coast; the Rocky Mountains; Appalachia; and the Mid-Continent or Anadarko Basin. 2011/12 EPS growth of 52% and 82%.

Precision Drilling ( PDS): $3.3B MC, 12.75 P/E; an integrated oilfield drilling and energy service company that provides contract drilling, well servicing, and technologically advanced equipment for strategic support to hundreds of onshore rigs in Texas and Canada. 2011/12 EPS growth of 90% and 47.75%.

Oil States International ( OIS): $3.2B MC, 11.8 P/E; a diversified global oilfield services company, a leading manufacturer of products for deepwater production facilities and subsea pipelines, a leading supplier of a broad range of services to the oil and gas industry, including production-related rental tools, work force accommodations and logistics, oil country tubular goods distribution and land drilling services. 2011/12 EPS growth of 60% and 23.6%.

Complete Production Services ( CPX): $2.1B MC, 9.4 P/E; one of North America's leading oilfield service providers, offering all-inclusive field support solutions, equipment and well-production optimization and enhancement to the world's largest oil and gas companies who rely on the company's local basin expertise and leadership in the major oil and gas regions from Canada to Mexico. 2011/12 EPS growth of 163% and 36%.

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