Go for Good Energy Companies: Bob Doll
Energy companies are a good place for investors to put their money, because the spike in oil prices has not been matched by share prices, Bob Doll, vice-chairman and Chief Investment Officer of global equities at BlackRock, told CNBC.
"You want companies that have strength, have stayed in power, can gain market share," Doll told "Squawk Box."
The price of oil has retreated in the past days on fears the global economic recovery will not come as fast as many investors had thought, but he said oil firms were still a good bet.
"I think somewhere in the $60 range (per barrel) these companies can make money," Doll said.
- Trading with the Experts - Here
Marathon , Occidental Petroleum Corporation , ConocoPhilips and Anadarko are the energy companies that Doll likes.
About the healthcare sector, which has been in the news lately, Doll said it's "a grey cloud".
"You need to be careful because whenever legislation is enacted is not likely to be good news for the industry," he said.
However, he said he liked United Healthcare and some of the biotech companies like Amgen .