Renewed talk of quantitative easing from the Federal Reserve and trouble stirring in Syria have pushed oil prices up this week (to $90 per barrel), and a new round of earnings reports is coming up for oil producers.

In addition, the U.S. Energy Information Administration reports that inventories are up by 1.3 million barrels last week, in its most recent weekly crude oil outlook. Troubling GDP reports from the Eurozone, and a promising manufacturing outlook in China round out the key economic news impacting oil stocks.

With that as a backdrop, what oil and gas stocks are the experts looking at these days? Oil and Gas Investor contacted five money managers, investors, and analysts, to find out what’s hot in oil stocks this week. Here’s what they have to say:

Andrew Fletcher, MBA, Fletcher Wealth Management, Inc. Johnson City, Tennessee
-- (Fletcher is a Covestor Model Manager for Fletcher Wealth Management's Oil & Gas MLPs model.)

The master limited partnership that we see as having the most potential upside at this time is Energy Transfer Equity, L.P. (ETE). We see ETE's Texas intrastate pipeline as its core asset. Over the past several years, ETE has continued to build out this pipeline to a point of being able to move gas anywhere in Texas to obtain the best pricing. Their pipeline system is also expanding in other states through acquisitions. When ETE purchased Southern Union, they acquired, and simultaneously, sold (to Energy Transfer Partners, L.P., (ETP), of which ETE is the General Partner, and owns approximately 52.5 million limited partnership units), Southern Union's 50% stake in Citrus Corp., the owner of Florida Gas Transmission, one of the major pipelines that serves Florida.

ETE is also using acquisitions to diversify cash flow. Last year's joint venture purchase of LDH Energy Asset Holdings LLC, allowed ETE and Regency Energy Partners (RGP)--of which ETE is the General Partner, and owns about 26.3 million limited partner units--to expand their assets into the natural gas liquids storage, fractionation, and transportation businesses. ETP's merger with Sunoco provides diversification away from natural gas only, into heavier hydrocarbons, and makes ETP the General Partner, with a 32.4% percent interest in limited partnership units, in Sunoco Logistics Partners, as well the owner of Sunoco’s branded retail business.

Covestor
Model Manager Dan Plettner
-- (Plettner manages five investment models on Covestor, an online Registered Investment Adviser based in NYC.)

We picked Enterprise Product Partners (EPD) as a long-term favorite because it stands out for yield and growth. Enterprise Products Partners LP is the largest publicly-traded energy partnership and a leading North American provider of midstream energy services.

The huge domestic pipeline company has grown to be the largest position in the Covestor MLP Direct Ownership Model. Its stewardship appears very focused on the shareholders for the long term.

James DiGeorgia, editor/publisher of The Gold and Energy Advisor

I see an improving outlook for natural gas, with two top picks that have high natural gas to oil ratios:

Bill Barrett Corp. (BBG) -- Its production is 60% hedged, with natural gas hedged at $6.63 for 2012; 40% of its capex will be for oil and liquids. BBG has above average fundamentals. The market value for their natural gas reserves is only $0.73 MMbtu. BBG was over $50 per share a year ago, and currently it trades for around $20 per share.

Forest Oil (FST) -- Currently the market is pricing its natural gas reserves at only about $0.36 MMbtu, the lowest of the group I analyzed. They are 58% hedged (natural gas @ $5.30, liquids @ $45, oil at $105). They are committed to focusing on their oil, liquids opportunities/resources. They do have high leverage and low liquidity, so there is risk. Last year FST was around $40; currently it is trading around $5.91. It is best to buy on pullbacks.

Tyler Kocon, Portfolio Manager for Split Rock Private Tradings Bakken & US Energy Shale Separately Managed Account, Duluth, Minn.
For the intermediate/long term our favorite play is Kodiak Oil and Gas Corp. (KOG), which we like for several key reasons. They possess some incredibly attractive acreage positions (mainly in the Bakken shale deposit) among some of the fastest growing oil production regions on the continent. Their large stakes in the Bakken formation of the Williston basin have positioned them on top of some very pricey and lucrative acreage.

KOG is consistently speculated as a potential takeover target among larger oil and gas companies. This takeover chatter is positive news to investors since a buyout of this proportion would likely lead to increased share prices for investors.

Shorter term, we like Spectra Energy Corp. We like SE for different reasons. It stands as a fairly good contrast to KOG in relation to volatility. We especially like the yield (currently 3.7% as of July 23) and the protection this dividend provides to the stock in general. We believe this dividend will aid in protecting the investor on the downside.

Ben Dickey, BSG&L Financial Services, and a Covestor Model Manager, Houston, Texas

For long-term holds, we like Continental Resources (CLR) and EOG Resources (EOG). They both have large holdings in both the Bakken shale and the Eagle Ford shale. For a riskier four-bagger, try Energy XXI (EXXI) and Plains Production & Exploration (PXP). They have a large working interest in McMoRan’s deepwater play in the Gulf and they have completed the well. This would be a large increase in these companies’ earnings. We own all four stocks.

We also believe our equity markets have approached a very oversold condition. Fear has trumped fundamentals in the market. Oversold markets are like a tight rubber band. As fear subsides, the market will snap back. The last trading day of June was a perfect example. However, we try not to let these market gyrations impact our daily investment decisions.

There you have it. Top oil and gas stock picks from a panel of experts picked by OGI. Whether you add them to your portfolio or not, you’ll have a fresher outlook on what the professionals are buying -- and why.