It is wise to look at specific bullet designs when considering bullet weight. Some 150gr .277" bullets perform better than their lighter counterparts, but the reverse is also true. A very stout 130gr might be a better choice than the 150gr counterpart, depending on the size of the animal.
One thing to keep in mind is that the heavier bullets do not necessarily perform worse at longer ranges (as indicated by a previous poster). In fact, in some cases the opposite is true. Generally speaking, heavy-for-caliber bullets will have higher ballistic coefficients and certainly higher sectional density. The higher ballistic coefficient translates to better velocity retention way down range. The result is that sometimes the lighter bullet starts out faster, but by the time both bullets are out beyond 400 meters or so, the heavier bullet is traveling just as fast because the lighter bullet is shedding velocity quicker. All else being equal, the heavier bullet will be carrying more energy and this advantage will be multiplied by the fact that the sectional density of the heavier bullet is higher. Of course, at "normal" hunting ranges this is moot.
I have used various 130s and 150s. They all kill animals. My current goto is a 150gr with a BC of .525. Behind ~58 grains of IMR7828, it shoots basically as flat as factory 130gr. and gives me .546 MOA. Recoil is closer to a .270WSM though, so I am due for a new recoil pad.