Stocks were off to a good start Monday, with the Dow Jones Industrial Average up over 200 points in late-day trading. Oil prices were climbing and recovering, affecting the rest of the market. This week, it is a good time to grab a position in companies that are headed higher.

With oil rising Monday, energy stocks and oil companies were responding with higher stock prices. There are some opportunities to get into some oil and energy stocks now and to enjoy some nice profits if oil keeps rising.

Cabot Oil & Gas

Cabot Oil & Gas Corporation (COG) was up over 9 percent to $21.72 in late-day trading Monday. Since mid-January, the stock has climbed from the $16 range to the $20 range in February. Most analysts have a "buy" rating on Cabot Oil & Gas, and some have a "strong buy" rating. On Feb. 18, research firm Drexel Hamilton initiated a buy rating for the stock. The mean target price for COG is $23.35, with a high price target of $32.

Investors wanting a quick turn around can buy in now and sell after the stock goes up a few dollars, while patient investors could hold this stock for a longer timeframe and hope for it to approach the $30 range.

Newfield Exploration

Newfield Exploration Co. (NFX) was up over 12 percent to about $25 in late-day trading Monday. The stock is available at a discount price at the moment because shares were as high as $41 back in November. The stock has a "buy" rating from most analysts. Analysts believe this stock should reach $37.43 on average. The high price target for NFX is $56. On Jan. 11, research firm Wells Fargo upgraded NFX from "Market Perform" to "Outperform." On Jan. 22, Imperial Capital initiated an "Outperform" rating for NFX. Newfield Exploration Co. next reports earnings on Wednesday.

Noble Energy

Noble Energy, Inc. (NBL) was up over 6 percent to about $31.78 in late-day trading Monday. For most of February, the stock has been climbing from the $27 range to the $30 range. Out of 35 recommendations, 15 analysts rate Noble Energy, Inc. with a "buy" rating and seven rate it a "strong buy." On Jan. 21, research firm Nomura upgraded NBL from "neutral" to "buy." Analysts predict that NBL should hit $38.57. The high target price for NBL is $54, with Tudor, Pickering, Holt & Co. saying it will reach this price within 12 months. This price target is about 94 percent higher than NBL's closing price on Feb. 9, the day that the firm made the recommendation. 

Diamond Offshore Drilling

Diamond Offshore Drilling, Inc. (DO) was up about 6 percent to about $20.78 in late-day trading Monday. The stock sank to $15.55 on Jan. 20, but it has been climbing ever since. The stock is given mostly a "hold" rating by analysts. This stock has the opportunity to hit $24 in the next 12 months, but it should be used as a short term investment since it has the chance to fall. On Jan. 29, research firm Citigroup upgraded DO from a "sell" rating to "neutral."

Monitor the price of oil when looking into energy and oil/gas stocks. When the price of oil takes a heavy hit, these stocks could lose all of their recent gains. And when oil prices rise, these stocks usually do too.