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Growth stocks are great if you like the long term holds. Cramer recently released some of his favorite growth oil stock picks. Interested? So are we! Here are out favorites of the bunch. HawkInvest did some great research on these stocks.

Schlumberger Limited (SLB) offers project management, technology and other services to the oil and gas industry. This company is seeing strong revenue and profit growth which is likely to continue as oil demand rises around the world. Schlumberger recently reported full-year 2011 revenues of $39.54 billion versus $27.45 billion in 2010. Earnings per share for 2011, came in at $3.66, which shows considerable growth over profits of $2.86 per share for 2010. Other positives include that the company repurchased 9.2 million shares of its common stock in 2011, and on January 19, 2012, the Board of Directors approved a 10% increase in the dividend.

National Oilwell Varco, Inc. (NOV) designs, manufactures, and sells equipment and components used in the drilling and production of oil and natural gas. This company is benefiting from the worldwide boom in drilling and the increased activity in the Gulf of Mexico, which had been hampered for months after the oil spill. This company reported fourth quarter earnings of $574 million, or $1.35 per fully diluted share.

We like these two stocks. Do you? Tell us if you don’t. We are interested in hearing feed back from our readers. 

Quotes taken from report by HawkInvest, Read the entire article here.

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