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'Halftime Report' Traders Weigh In On Energy Stocks

Craig Jones
·1 min read

JPMorgan's analysts named the energy sector as their top contrarian pick for the next year, but CNBC Fast Money's Joe Terranova thinks being bullish on the energy space is not contrarian. He sees it as a consensus.

Terranova said on the Halftime Report investors are very bullish on the energy space and he continues to advise them to invest in quality names like Pioneer Natural Resources Co (NYSE: PXD), Chevron Corporation (NYSE: CVX) and Exxon Mobil Corporation (NYSE: XOM). Terranova also thinks investors should be careful as he believes that overall the sector might struggle due to a high short-term debt maturity. He expects around $10 billion of debt maturity in 2021.

Sarat Sethi owns Chevron, Pioneer, EOG Resources Inc (NYSE: EOG) and Apache Corporation (NASDAQ: APA). He sees Chevron, Pioneer and EOG as the balance sheet plays and really strong consolidators of this business. Apache is a kind of an option value on a gas play. Sethi thinks investors have to have a stomach for the energy space, but they are probably going to be rewarded 12 to 18 months from now.

Kourtney Gibson agrees with Terranova about the stocks he named. She also thinks quality energy names are a good idea, but she is not concerned about debt because they are going to be able to raise new capital or refinance debt.

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