Despite West Texas Intermediate (WTI) finally poking its nose briefly below $100 a barrel after what seems an eternity, one thing remains a steady constant in the oil services sector. The top companies, especially working onshore in North America, are hitting on all cylinders. With everybody from the biggest integrated oil and gas players to the smallest independents drilling, the sector may be poised for a continuation of this year’s winning ways.

A new research report from Deutsche Bank acknowledges that price-to-earnings multiples have jumped dramatically this year on the huge rally in the stocks. They point out though, that those multiples were coming from near-record lows and have really just moved back to the historical range after years of underperformance.

Deutsche Bank still sees strong second-quarter earnings, as well as possible upward revisions to estimates, as a catalyst for the sector. The analyst team sees the huge sector leaders as possibly closed to fully priced and focus their top stocks to buy, including four listed as their top sector picks, on smaller names with more potential upside.

While Deutsche Bank is still very positive on the mega-cap leaders in the field, they feel that most of the good news and earnings growth is priced into the stocks. Their current picks may make sense for investors looking to stay in the sector, but rotate some gains from the big boys.

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Baker Hughes Inc. (NYSE: BHI) ranks high on the Deutsche Bank list and is one of the bank’s top picks. The company is a leading supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. With more than 59,000 employees working in more than 80 countries, the company helps its customers find, evaluate, drill, produce, transport and process hydrocarbon resources.

Baker Hughes investors receive a 0.9% dividend. Deutsche Bank has an $86 price target on the stock. The Thomson/First Call consensus price target for Baker Hughes is at $81.25. The stock closed Wednesday at $74.39 a share.

Exterran Holdings Inc. (NYSE: EXH) is the top pick of all the oil service stocks covered at Deutsche Bank right now. The company completed the acquisition of the compression assets from a division of Chesapeake Energy earlier this year. The purchase of MidCon Compression allows the company to offer expanded compression services across many of the top shales and basins in the United States.

Exterran pays investors a 1.3% dividend. Deutsche Bank has a $54 price target for the stock, and the consensus target is set at $50.67. Exterran closed Wednesday at $43.70.

Key Energy Services Inc. (NYSE: KEG) is another top name, and investors may benefit from a substantial fall in the stock’s price this year — down almost 20% from earlier highs posted this year. The company has been investigating and cooperating with the government while looking into possible violations at its Mexico operations.

The negative headline news overshadows the fact the company is working and providing well services at more than 175 locations across the United States. Key Energy’s price target at Deutsche Bank is $11, and the consensus figure is at $10.38. Shares closed Wednesday at $8.45.

Nabors Industries Ltd. (NYSE: NBR) is a top name at Deutsche Bank, like many of the other top banks on Wall Street, which have cited Nabors better-than-average fleet, including a large number of high-end rigs in the United States and strong international business to drive growth.

Deutsche Bank likes the company’s consistent earnings delivery and their monetization of current business segments. Nabors’ investors are paid a tiny 0.6% dividend. The Deutsche Bank price target is set at $30, while the consensus target is inline at $30.37. Nabors closed Wednesday at $29.07 a share.

Patterson-UTI Energy Inc. (NASDAQ: PTEN) is another top pick at Deutsche Bank. The company recently reported that for the month of June 2014, they had an average of 204 drilling rigs operating in the United States and six rigs in Canada. For the three months ended June 30, 2014, the company had an average of 201 drilling rigs operating in the United States and three rigs in Canada.

Wall Street has always liked the company’s strong share repurchase program and very strong generation of free cash flow. Patterson-UTI investors are paid a 1.1% dividend. The Deutsche Bank price target is $37, and the consensus target is posted at $36.95. Shares closed Wednesday at $35.64.

Superior Energy Services Inc. (NYSE: SPN) rounds out the top six names to buy at Deutsche Bank. The company serves the drilling, completion and production-related needs of oil and gas companies worldwide through its brand name drilling products and its integrated completion and well intervention services and tools, supported by an engineering staff who plan and design solutions for customers.

Superior Energy pays investors a 0.9% dividend. The Deutsche Bank target price goes from $39 to $43. The consensus price target stands at $36.88. Superior closed Wednesday at $36.69 a share.

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