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Quick Take: Oil Surge Boosting Energy ETF

Stocks in this article: XLE XLK GS JPM

NEW YORK ( TheStreet) -- Although crude has been on fire over the past couple of weeks, does that mean it's too late to get in on the action? Joe Heider, managing director at Rehmann Financial and TheStreet's Gregg Greenberg take a look at where investors can still find value.

Heider said there are still opportunities in a broad range of oil-related stocks -- including drillers, refiners and producers -- given price-to-earnings ratios.

He said those stocks appear attractive even though there are estimates that the next GDP report will be weak -- a potential damper on oil prices.

Heider said he likes the SPDR Select Sector Energy ETF (XLE), because it gives investors an opportunity to play the entire energy sector without the burden of picking one or two individual stocks.

Another exchange-traded fund that Heider likes is Select Sector Tech SPDR (XLK).

He said many technology stocks now offer attractive dividends and there's still room for these stocks to rise in the near future.

Greenberg and Heider also discussed the current earnings season in general.

Greenberg noted the stock market gave a lackluster reception to estimate-topping results from Goldman Sachs (GS) and JPMorgan Chase (JPM) and asked Heider for his view.

The investment manager said it was a reflection of the "plodding-along" economic recovery the nation is experiencing and said the current earnings season was shaping up to be an "average" one, with two-thirds of companies beating predictions.

Greenberg said one of the worries for investors was that companies were beating on the bottom line by cutting costs but weren't growing revenue. But Heider said he thought companies can deliver top-line growth, and pointed to Goldman, which grew revenue in its latest quarter, as an example.

Lastly, Heider said he's overweight in financials right now, sees real opportunity in the sector and thinks it's a great way to round out an investment portfolio.

-- Written by Bret Kenwell in Petoskey, Mich. .

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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