NEW YORK (TheStreet) -- Energy stocks are rallying on Monday, after Sunoco Logistics (SXL.N) said it had agreed to buy Energy Transfer Partners (ETP.N) for about $20 billion.
While energy stocks were "the place not to be" in the last few weeks, investors might want to re-consider the sector now, Virtus Investment Partners Chief Market Strategist Joe Terranova said on CNBC's "Halftime Report" on Monday afternoon.
"I think it gets you a little more incentives to add back into energy once again," he said.
These stocks are particularly attractive as optimism rises for OPEC to agree to an oil production cut deal at its November 30 meeting, Terranova commented.
Rather than going to refinery stocks, investors should start putting their money back into "those shale survivors" like EOG Resources (EOG) and Concho Resources (CXO), he advised. He also went long on Range Resources (RRC) this morning.