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Some of the bigger energy stocks have declined recently on the back of the recent pullback in oil prices which are near six month lows. This has not stopped investors from allocating more money into energy. As one example, The United States Oil Fund (USO) has seen its assets under management double in the past two weeks, attracting net inflows of more than $500 million.

I believe this bodes well for a turnaround in energy stock prices. Here are two attractive big energy plays I that believe are offering solid long term entry points after recent pull backs.

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Cimarex Energy (XEC) is an independent oil and gas exploration and production company primarily in Texas, Oklahoma, New Mexico and Kansas. The stock has declined over the past three months despite earnings results that beat top and bottom line expectations in the last reported quarter. In addition, Stifel Nicolaus upgraded the shares from "Hold" to "Buy" with a $120 a share price target in November.

Revenues are tracking to just under 25% growth in FY2013 and analysts expect another ~15% increase in FY2014. The stock sports a five year projected PEG near 1 (1.03). Earnings are showing even better results with earnings year over year looking to be up over 30% in FY2013 and another 15% to 20% upside expected in FY2014.

Given growth prospects, XEC is attractively valued at ~15.5x forward earnings. It is cheaper on an operating cash flow (OCF) basis where the stock sells for 7x trailing OCF. The company has guided towards oil production growth in the 17% to 19% range for this year. S&P has a "Buy" rating and $131 a share price target on XEC, ~30% above the current stock price.

Continental Resources (CLR) is a fast growing producer of crude oil and natural gas. It is the biggest producer of energy from the fast rising Bakken reserve and is a 'fracking' pioneer as well. Barclays recently named Continental one of its top four Oil & Gas picks in 2014.

Continental has seen production rise ~45% annually over the past three years. Barclays believes production growth can continue to grow at 20% a year versus a peer average of 5% to 10%. The stocks sports a five year projected PEG of under 1 (.59).

The company has beat earnings estimates for four straight quarters and is selling at just over 15x forward earnings, a significant discount to its five year average (27.9). Continental is priced at just over 8x operating cash flow.

Source: 2 Big Energy Plays To Buy On Recent Dip