At the SkyBridge Alternatives Conference in Las Vegas this week, several noted hedge fund managers voiced bullish opinions on energy stocks with the sector being one of the most talked about at the conference following a recent sell-off in commodities-related stocks.
Steven Cohen, founder of SAC Capital Advisors, is among the hedge fund managers that likes energy stocks. ''The commodity selloff provides an interesting entry point for energy stocks,'' Cohen said according to the Wall Street Journal. The Journal did not mention if Cohen highlighted specific energy stocks in making those comments.
Leon Cooperman of Omega Advisors is also bullish on energy stocks, noting that his firm is overweight the sector, the Journal reported. One of the stocks that Cooperman chatted up was Transocean (RIG), the world's largest provider of offshore drilling services. Shares of Transocean are down almost 17% in the past three months.
Among the energy stocks that Cohen has recently held positions are Plains Exploration (PXP) and Arkansas-based Murphy Oil (MUR).