Still a Buying Opportunity in Oil and Gas Service Companies?

This segment is from Tuesday's edition of "Digging for Value," in which sector analysts Joel South and Taylor Muckerman discuss energy and materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays and Thursdays. It can also be found on Twitter, along with our extended coverage of the energy and materials sectors @TMFEnergy.

Third-quarter earnings are in for the three biggest oil and gas service companies, with Halliburton (NYSE: HAL  ) growing North American margins by 200 basis points in an otherwise flat market. The great news for Halliburton came from its eastern hemisphere operations, with revenue and operating income soaring from 2012 levels.

Baker Hughes (NYSE: BHI  ) and Schlumberger (NYSE: SLB  ) also recorded outstanding quarters, as international operations for both service providers grew substantially. Oil and gas service companies are still waiting for a strong uptick in North American activity -- but does this headwind create a solid buying opportunity for investors? Watch the segment below for more information on third quarter results.

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