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Are E&P Stocks Cheap?

Fast Money Portfolio

Energy stocks just can’t get any love.

So why is top money manager Shawn Reynolds putting money to work in E&P names?

Reynolds, who is co-portfolio manager of the 5-Star Van Eck Global Hard Assets Fund, tells us, “We think international exploration is very exciting. And there are some great exploration plays.”

He also says once oil stabilizes, “investors will realize that at these prices E&P are very profitable,” he says.

And he thinks money will rotate into Halliburton.

“It has become one of the best service companies in the world yet it trades relatively cheaply relative to its peers. “We love Halliburton right here.”

Get all the details. Watch the video now!

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Posted by CNBC's Lee Brodie

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Trader disclosure: On June 4, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Karen Finerman is long AAPL; Karen Finerman is long JPM; Karen Finerman is long BAC; Karen Finerman is long WMT; Karen Finerman is long TGT; Karen Finerman is long RIMM; Karen Finerman is long GRPN PUTS AND PUT SPREADS; Karen Finerman is short SPY; Karen Finerman is short IWM; Karen Finerman is short MDY; Tim Seymour is long BAC; Tim Seymour is long INTC; Dan Nathan is long AAPL JUNE 550/520 Put Spread; Dan Nathan is long BAC JULY 6/5 PUT SPREAD; Dan Nathan is long MS JAN 10/5 1X2 PUT SPREAD; Dan Nathan is long RIMM JAN 20/25 CALL SPREAD; Dan Nathan is long CHK JAN 12.50/7.50 PUT SPREAD; Dan Nathan is long CHK JAN 10/5 1X2 PUT SPREAD; Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTU

For Ron Insana
Nothing to Disclose

For Scott Nations
Scott Nations is long C
Scott Nations is long JPM
Scott Nations is long BAC
Scott Nations is long SPY

For Amelia Bourdeau
Nothing to Disclose

For Whitney Tilson
Whitney Tilson is long BRKA
Whitney Tilson is long JCP
Whitney Tilson is long DELL
Whitney Tilson is long JPM
Whitney Tilson is long NFLX
Whitney Tilson is long BKS
Whitney Tilson is long C
Whitney Tilson is long GS
Whitney Tilson is long SNDK
Whitney Tilson is long AIG
Whitney Tilson is long IRDM
Whitney Tilson is long PBY with wires.