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.

Cameron International's (CAM) shares, first discussed here on April 24, 2009 at a price of $25.59, are on the move again.

Oil/natural gas servicer Cameron should benefit from the Obama's administration likely, revised blowout preventer safety rules, as oil companies conform to the new standards.

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

"The disaster in the Gulf of Mexico is likely to have positive ramifications for Cameron International (CAM)," says energy sector specialist Elliott Gue.

The editor of The Energy Strategist explains, "The political fallout could usher in stringent regulations governing blowout preventers (BOP), subsea equipment and redundant safety systems on rigs.

"Such an outcome would be consistent with past experience in the energy industry. After the Exxon Valdez spill, the government pushed oil companies to use double-hull tankers and phase out single hulls.

I wrote about considering taking some profits off the table with Cameron International (CAM) here on April 24, 2009, when the stock was at a price of $25.59. It proved to be a prudent warning, as CAM soon dropped from highs near $48 to about $31 in June, largely due to jitters about the deepwater offshore oil drilling sector.

However, Cameron has since popped back above the key, 50-day moving average, and I obviously still like the shares here.

Cameron should benefit from the Obama administration's likely, revised blowout preventer safety rules, as oil companies conform to the new standards.

Oil is no longer flowing from the Deep Horizon well into the Gulf of Mexico, and investors are starting to take another look at the oil industry.

One oil stock that is standing out right now is Cameron International (CAM), which provides drilling systems and equipment -- like the now infamous blowout preventers.

Goldman Sachs just upgraded Cameron to a Buy rating and added the stock to its Conviction Buy List saying, "we expect Cameron to be one of the key beneficiaries of any renewed focus on oil services."

Cameron International (CAM), which I first wrote about on April 24, 2009 at a price of $25.59, is up more than 80%, hence I think it's perfectly acceptable to take some profits off the table at this juncture.

Meanwhile, those investors who can tolerate the risk could retain those shares and go for an even bigger gain.

Look for Cameron to continue to benefit from longer-term demand for oil field capital equipment and deep-water support equipment on ramping oil demand in the immediate years ahead. Further, new technology that's likely to increase natural gas drilling and production (via a technology called hydraulic fracturing) in North America also holds out 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.

Investors have one-last chance to scoop-up shares of Cameron International Corp. (CAM), due to a pull-back, and it goes without saying that I'm reiterating my buy rating for the company's shares, first recommended on April 24, 2009, at a price of $25.59. If you bought Cameron in April 2009, you're up about 50%.

Look for Cameron to continue to benefit longer-term from demand for oilfield capital equipment and deepwater support equipment, on likely, ramping oil demand in immediate years ahead. Further, new technology that's likely to increase natural gas drilling and production (via a technology called hydraulic fracturing) in North America also holds out the promise of increased valve business for CAM.

It's now or never, from a return on equity standpoint, with Cameron International Corporation (CAM), first recommended on April 24, 2009, at a price of $25.59. If you bought in April, you're up about 60%. I'm reiterating my buy rating, but there are qualifications.

Look for Cameron to continue to benefit from longer-term demand for oilfield capital equipment and deepwater support equipment, on likely, ramping oil demand in the immediate years ahead.

If you hitched your train to Cameron International Corp. (NYSE: CAM) in late April, as recommended on April 24, 2009, you're up a nice 40%. And that's before the next oil boom begins.

Hence, I'm reiterating my Buy rating for Cameron, first recommended at a price of $25.59.

The Obama administration's promise to create a more self-reliant, energy-independent nation and the impact of efforts to first limit, then eliminate global warming from fossil fuels opens the door to alternative energy source development.

But, as Saudi Arabia reminds us, and the world, barring a breakthrough technology, fossil fuels will remain a major energy source for at least the next thirty to fifty years. In other words, oil is down now, but it's not out, and so Cameron International Corporation (NYSE: CAM) is worth a review.

Technician Michael Ashbaugh expects a "cooling off period" before stocks again test their all-time highs. Yet, he remains bullish, with a particular focus on the oil services sector. In his MarketWatch Technical Indicator he explains, "The Dow was recently trading 206 points from all-time highs while the S&P 500 was 26 points from all-time highs."

He suggests, "Looking ahead, that's where the tension rests. The U.S. markets are facing significant resistance at record highs, and are extended near-term after a massive two-day spike. That means a cooling off period is likely due before they make a legitimate run at record territory."

Regardless of any short-term pullback, he adds, "The market's recent decisive break atop the 50-day moving average is distinctly bullish. The U.S. markets also confirmed their uptrend with a 24-to-1 positive volume session last Tuesday, meaning the longer-term path of least resistance is higher."

Meanwhile, one of his favored sectors, based on their technical positions, is the oil services stocks. He explains, "The Oil Services Index remains among the strongest sectors. We have selected several names to highlight as they are well positioned technically. And, their relative strength makes them better bets longer-term."

The advisor points to Weatherford International (NYSE: WFT); Cameron International (NYSE: CAM); Schlumberger (NYSE: SLB); National Oilwell Varco (NYSE: NOV); and FMC Technologies (NYSE: FTI).

Each day, Steven Halpern's TheStockAdvisors.com features the latest stock picks and investment ideas from the nation's leading financial newsletter advisors.