Analyst: Energy Service Stocks Attractive Now

Energy and energy service stocks are the plays where Donald Hodges of Hodges Capital Management sees opportunity.

"We particularly think energy stocks are good buys here," he said on CNBC. "That doesn't mean they might not go a little lower, but when you look at them from a price-earnings multiple and look at them in terms of long term demand, we think it's a great area to be looking around in."

(For his full comments, see the accompanying video).

Service companies are the hot spot, Hodges claimed. He singled out Transocean as a good bet, because demand for its rigs has climbed.

He also recommended investors look at Chesapeake Energy .

"It's become the largest producer of natural gas in the Unites States" with some recent discoveries, he pointed out.

Disclosure: Hodges, his family, and his firm have ownership positions in some of the stocks he covers.