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Top trader Najarian: An oil stock ready to rally

Workers stand next to water service tanks at an Anadarko Petroleum hydraulic fracking site near Dacono, Colorado.
Jamie Schwaberow | Bloomberg | Getty Images
Workers stand next to water service tanks at an Anadarko Petroleum hydraulic fracking site near Dacono, Colorado.

In hopes of keeping his market-beating performance going this year, Jon Najarian bought shares of Anadarko Petroleum for his "Halftime Report" model portfolio, after spotting unusual options activity.

Shares of the oil and gas exploration company are down by more than 30 percent since reaching a record price of about $113 a share in August of last year, weighed by oversupply concerns in the energy complex.

But as the stock hovers near a four-year low, Najarian speculates this volatile name could be ready to take off.