Carbo Ceramics, Inc. (CRR) continues to benefit from elevated energy prices. The company's second-quarter results were excellent, analyst estimates are up once again, and its stock price has been rallying for most of the year.

Carbo Ceramics engages in the production of ceramic components used in natural gas and oil wells. The company was founded in 1987, has a market cap of $1.30 billion and is headquartered in Irvine, Texas.

Second-Quarter Results

With crude prices remaining at elevated levels, oil services companies continue to experience strong demand for their products and services. This dynamic was evident when Carbo reported impressive second-quarter results on Aug 5.

Revenue was up 32% from last year to $103 million. Net income totaled $13.5 million, producing earnings of 55 cents per share, ahead of analyst estimates by 4 cents.

It was the fourth time in four quarters that

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Whiting Petroleum Corp. (WLL) continues to reap big profits from higher energy prices. The company's recently reported second-quarter results were awesome, analysts are projecting strong earnings growth into the next-year period and its share price is trading at a big discount to the overall market.

Whiting Petroleum Corp. engages in the exploration and production of oil and gas in the United States. The company was founded in 1983, has a market cap of $3.57 billion and is headquartered in Denver, Colorado.

Industry Trend

Energy stocks have traded lower over the last 2 months in reaction to oil prices dropping from $147 a barrel to current prices around $110 a barrel. This has provided some much desired relief to consumers, but on a historical basis, oil prices are still incredibly high, and that continues to produce big-time earnings for oil companies. This dynamic was evident when Whiting

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