Oil prices are ultimately going to trade up to the $60 to $65 level, and that means it's a good time to buy some oil stocks, strategist David Katz said Thursday.
"You're getting a good yield in a number of these companies. They're cheap relative to their earnings and they're very cheap relative to their price-to-book value," the chief investment officer for Matrix Asset Advisors said in an interview with CNBC's "Closing Bell."
Earlier this week, Bank of America Merrill Lynch told clients to buy energy stocks , predicting the price of oil could jump to $69 per barrel by next June.
Katz believes supply and demand are moving toward being in balance in the upcoming year, and cautioned that if investors wait until oil hits $65, the energy stocks will have already moved a lot.