Though oil stocks look appealing at their current levels, investors need to choose dividend names carefully as low crude prices have recently pressured payouts, said Danielle Hughes, CEO of Divine Capital.
"If you're a long-term investor, you're going to understand that eventually oil is going to come back up," she said in a CNBC "Closing Bell" interview. "However, you have to look at companies that have a track record of actually paying out their dividend over a long period of time."
Read MoreFamed oil bear loses his growl
Offshore driller Transocean became the latest energy company to suspend its dividend last week. But shares of companies like Royal Dutch Shell—which have fallen more than 20 percent this year—are worth a look, as they have historically shown they can keep up with dividend payouts, Hughes contended.
Still, oil's recent move may not fully reflect the sector's momentum, said Tim Seymour, managing partner at Triogem Asset Management and a CNBC contributor. He noted that traders may have reacted to what they wanted to hear from OPEC.
Seymour said, also on "Closing Bell," that reality for the oil industry may sit somewhere between recent lows and the optimistic three-day spike.
Read MoreOil ends up 8.8%, at $49.20 a barrel; highest since July 21