Halftime traders like these energy names, including two that may be a buying opportunity on earnings
Energy stocks may be lagging the market, but don't count them out just yet, according to "Halftime Report" traders. The Energy Select Sector SPDR Fund gained a whopping 57.6% in 2022, compared with the S & P 500 's 19.4% drop. However, this year the sector is down nearly 3%, versus the 4% gain by the S & P.
" One name he owns is Occidental Petroleum , which reports earnings after the bell Monday. Terranova is expecting a "record quarter." Sarat Sethi, portfolio manager at Douglas C. Lane & Associates, is also slightly overweight in energy and sees a potential buying opportunity. "As soon as you see the economy stabilize, energy is going to be the place to be again," he said.
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