DEEP VALUE: Baker Hughes
Ticker: BHI
Market cap: $12.6 billion
P/E ratio: 7
Current ratio: 4.2
Dividend yield: 0.6%

When natural gas prices finally make a comeback, business should pick up for Baker Hughes too. In the meantime, the oil and gas services company should see healthy demand in its deepwater drilling business, offsetting declines in demand for its land and shallow-water drilling operations.

About 60% of the company's revenue comes from outside of North America, giving it exposure to global growth opportunities. Bake Hughes has long-term, deepwater exploration and production contracts with Brazil's Petrobras and Mexico's Pemex that should help the company ride out oil price fluctuations, says Bill Webb, deputy chief investment officer at Gluskin Sheff.

--Katie Benner

Becton Dickinson

Criteria include prices no more than 15 times average earnings per share over the past three years, 10 years of positive earnings, annual per-share earnings growth of 3% or more, 10 years of uninterupted dividends, and curent ratio (assets divided by liabilities) of 2 or better. All data related to stock price as of June 1, 2009. P/E ratios based on average three-year earnings.
Last updated November 04 2011: 11:59 AM ET