XES - XES: A Small To Midcap Oil Service ETF With Considerable Upside

2024-02-13 08:00:00 ET

Summary

• SPDR® S&P Oil & Gas Equipment & Services ETF, which focuses on oil and gas equipment and services, has been negatively impacted by the bearish environment for OFS companies.
• The fund's portfolio is heavily dependent on North America, with many companies down more than the 20% slide seen in the XES.
• The XES ETF is a good vehicle for tactical investors looking to capitalize on a potential rally in the energy sector, particularly in the fracking sector.
• We rate the fund as hold at present prices, but would look at taking a position sub $80.00 for growth.

Introduction

This is the first rattle out of the box for coverage of the SPDR® S&P Oil & Gas Equipment & Services ETF (XES). If you catch them right, exchange-traded funds, or ETFs, can be a good way to ride a sector move higher without single company risk. Many of the holdings of the XES have been featured in our Investing Group articles recently with......

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