2 Energy Stocks Traders are Buying Ahead of Earnings Reports

National Oilwell Varco, Inc. (NYSE:NOV) will unveil its latest earnings on Thursday, February 2, 2012. The average estimate of analysts is for net income of $1.30 per share, a rise of 23.8% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from $1.28. Between one and three months ago, the average estimate moved up. It has risen from $1.29 during the last month. Analysts are projecting profit to rise by 14.7% versus last year to $4.69.

The company is looking to beat analyst estimates for the third quarter in a row. Last quarter, it beat estimates with profit of $1.26 per share against the mean estimate of $1.17. In the prior quarter, the company reported net income of $1.14. Analysts are projecting a rise of 27.1% in revenue from the year-earlier quarter to $4.03 billion.

Competitors to Watch: Baker Hughes Incorporated (NYSE:BHI), Tesco Corporation (NASDAQ:TESO), Cameron Intl. Corp. (NYSE:CAM), T-3 Energy Services, Inc. (NASDAQ:TTES), Oil States Intl., Inc. (NYSE:OIS), Flotek Industries, Inc. (NYSE:FTK), FMC Technologies, Inc. (NYSE:FTI), Lufkin Industries, Inc. (NASDAQ:LUFK), and Schlumberger Limited. (NYSE:SLB).

Cameron International Corp (NYSE:CAM) will unveil its latest earnings on Thursday, February 2, 2012. The average estimate of analysts is for profit of 77 cents per share, a rise of 11.6% from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged. It also has not changed during the last month. Analysts are projecting profit to rise by 9.9% versus last year to $2.66.

The company has beaten estimates the last two quarters and is coming off a quarter where it topped the forecasts by 4 cents, reporting net income of 78 cents per share against a mean estimate of profit of 74 cents. In the second quarter, the company exceeded forecasts by 2 cents with net income of 66 cents versus a mean estimate of profit of 64 cents. Analysts are projecting a rise of 5% in revenue from the year-earlier quarter to $1.9 billion.

Competitors to Watch: FMC Technologies, Inc. (NYSE:FTI), T-3 Energy Services, Inc. (NASDAQ:TTES), National-Oilwell Varco, Inc. (NYSE:NOV), Dril-Quip, Inc. (NYSE:DRQ), Flotek Industries, Inc. (NYSE:FTK), Baker Hughes Incorporated (NYSE:BHI), Lufkin Industries, Inc. (NASDAQ:LUFK), Oil States Intl., Inc. (NYSE:OIS), Halliburton Company (NYSE:HAL), and Bolt Technology Corp. (NASDAQ:BOLT).

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com