Topeka commented on exploration and production stocks Monday and noted that “H15 will be challenging for the sector, but expect a buying opportunity to develop in 2H15, ahead of a supply response and a rally in oil prices.”

Analyst Gabriele Sorbara felt that “exposure to [the firm’s] higher quality coverage universe is the way to play the rebound.”

Sorbara’s top picks were Energen Corporation (NYSE: EGN), Cabot Oil & Gas Corporation (NYSE: COG) and Diamondback Energy Inc (NASDAQ: FANG).

“While natural gas prices have come off significantly on the milder weather and forecasts, COG is a low cost producer with increasing visibility on Constitution pipeline, which allows for its gas to move to new markets in 2016 and beyond,” according to Sorbara.

All the takeout candidates “would require significant premiums from currently depressed levels.”

Topeka maintained Buy ratings on all of the above stocks. Of the top picks, Energen was the only one moving higher Monday, recently trading at $65.55, up 1.79 percent.

Cabot Oil & Gas recently traded at $29.80, down 0.27 percent.

Diamondback Energy recently traded at $60.33, down 0.13 percent.