The case for keeping energy stocks in your portfolio

One sector that's taken a serious beating lately is energy. It seems there's big concern from investors each time there's a drop in the price of oil. Many believe they should just stay away from energy companies.

CNBC checked in with three portfolio managers to see if there is anything in the energy sector worth some attention.

"You need well-capitalized companies that can survive the downturn, assuming it continues for another year or two," said Nick Galluccio, president and CEO of Teton Advisors. "I would avoid heavily debt-laden companies," he said. "But there's a lot of money to be made in the upturn and long term if you want to own these stocks," he added.

"I have to say that it's foolish for anyone to say that they can time the price of energy," warned David Pearl, co-chief investment officer of Epoch Investment Partners. "No matter what company you are buying in the energy sector, it's totally correlated with the price of oil."

Asked how he has allocated energy in recent months, John Maloney, chairman and CEO of M&R Capital Management, said he has moved from being negative on energy sectors to becoming more neutral.

"If it were a baseball game, I think we're in inning six of a nine-inning game," he said. "Right now we are focusing more on plays that are not as dependent on the price of a commodity."

Portfolio manager disclosure: The following stocks mentioned or intended to be mentioned on CNBC's Portfolio Perspective video segment:

John Maloney owns shares of Kinder Morgan (KMI (KMI));

David Pearl owns shares of Anadarko (APC (APC));

Nick Galluccio owns shares of Pioneer Natural Resources (PXD (PXD)).

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