Cameron International Remains in an Uptrend

Filed under: Stocks to Buy

The stock of Cameron International (CAM), first discussed here on April 24, 2009 at a price of $25.59, remains on the move: the stock has risen from about $42 to test $60 today, and I obviously still like the share at this stage.



Oil/natural gas servicer Cameron is benefiting from the Obama's administration revised blowout preventer safety rules, as oil companies conform to the new standards. Cameron's orders increased 30% in the third quarter of 2010, compared to 2009.



Further, new technology that's likely to increase natural gas drilling and production (via a new technique called hydraulic fracturing) in North America also holds the promise of increased valve business for CAM. And Cameron's recent purchase of Natco Group, an energy capital equipment company, will increase international business.

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Cameron International Remains in an Uptrend originally appeared on BloggingStocks on Thu, 17 Feb 2011 17:20:00 EST. Please see our terms for use of feeds.

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