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These 3 Oil Stocks Trading at Insane Multiples, Says Pro

Energy stocks landed on the trader radar with oil turning higher after touching $80 earlier in the week.

Although you might be tempted to play the big oil names, pro oil trader Dan Dicker author of Oil’s Endless Bid suggests putting money to work elsewhere.

He says 3 E&P names in the space are trading at valuations that he never expected to see after the crisis of 2008.

They are:
Apache
Anadarko
Chesapeake

”These are great plays,” he says. “They made some big moves but I think they have more upside,” he says.

Dicker first told us about these plays on Tuesday. Click here to check out what he said.



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Trader disclosure: On Aug 11, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Terranova owns (XOM); Terranova owns (CVI); Terranova owns (CAT); Terranova owns (OXY); Terranova owns (AAPL); Terranova owns (DAR); Terranova owns (FCX); Terranova owns (CACI); Terranova owns (ARUN); Terranova owns (ORCL); Terranova owns (EMC); Terranova owns (NCR); Terranova owns (VMW); Terranova owns (IBM); Terranova owns (AMZN); Terranova owns (LULU); Terranova owns (LTD); Terranova owns (WFM); Terranova owns (JPM); Terranova owns (AXP); Terranova owns (FXA); Terranova owns (VRTS); Terranova owns (LQD); Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Finerman and Finerman’s firm own (AAPL); Finerman owns (BAC) and Finerman’s firm own (BAC) leaps; Finerman owns (JPM) and Finerman’s firm owns (JPM) stock and (JPM) leaps; Finerman's Firm Is Short (IWR); Finerman's Firm Is Short (MDY); Finerman's Firm Is Short (XRT); Finerman's Firm Is Short (SPY); Finerman's Firm Is Long S&P 500 Puts; Finerman's Firm Is Long Russell 2000 Puts; Najarian owns (AAPL); Najarian owns (BAC) calls; Najarian owns (C); Najarian owns (F) bonds; Najarian owns (MS); Najarian owns (PFE); Najarian owns (BX); Najarian owns (UNP) calls; Najarian owns (GDX) calls; Najarian owns (GLD) calls; Najarian owns (ECA)


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CNBC.com with wires.