A steep sell-off in energy company stocks in recent months due to falling oil prices may be overdone and there are some potential bargains to be had, Barron's financial newspaper said in its latest edition on Sunday.

Oil prices have fallen 25 percent since June, pulling oil producer share prices lower. Some smaller energy firms have fallen as much as 50 percent, Barron's said.

But now could be the time to buy. Larger oil majors including Exxon Mobil (XOM.N), Royal Dutch Shell (RDSa.N) and Chevron (CVX.N) offer the least risky bets, but smaller independents like Anadarko Petroleum (APC.N) and Penn Virginia (PVA.N) also look attractive.

While continued depressed oil prices could weigh, much of that has already been priced in to energy firms' stock prices, Barron's said.

"Energy stocks have lifted off their recent lows, suggesting the worst may be over for the oil market and the sector," Barron's said.