Energy stocks have been on a high recently on the markets. This year has been a tremendous year for the energy sector. Companies like Occidental Petroleum Corporation (NYSE:OXY), BP plc (ADR) (NYSE:BP) and Exxon Mobil Corporation (NYSE:XOM) have been on upside for some time now.
Abigail Doolittle was on CNBC earlier today and she was discussing about her favorite energy stocks. She felt if the Dow goes above the 17,000 mark, the energy sector would be having the top spot however that might be short lived. Doolittle thinks that most of the names are frothy and people should look for making quick profits in a short term basis.
Occidental Petroleum Corporation (NYSE:OXY) and BP plc (ADR) (NYSE:BP) are her favorite energy stocks for the long term and she is bullish on them. Other than these stocks she is fond of the companies dealing with Natural gas. Stocks like United States Natural Gas Fund, LP (NYSEARCA:UNG) and Bill Barrett Corporation (NYSE:BBG) are also among her favorite energy stocks, from the natural gas segment.
The companies, which Doolittle is having a continued upside in the future were Occidental Petroleum Corporation (NYSE:OXY) and BP plc (ADR) (NYSE:BP). She said the prices of Bill Barrett Corporation (NYSE:BBG) could go up if the Natural gas rises.
Her short term stock picks include names like Exxon Mobil Corporation (NYSE:XOM) and Energy Select Sector SPDR (ETF) (NYSEARCA:XLE) and a few others.
First Pacific Advisors Llc is a key investor in Occidental Petroleum Corporation (NYSE:OXY) with over 4.1 million shares as of 31stmarch 2014. The other key investors in the company are Diamond Hill Capital with around 3.2 million shares and Iridian Asset Management with almost 2.3 million shares.
Disclosure: None
