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home / news releases / XOP - XOP: Oil Turns Quiet E&P Stocks Remain A Bargain

XOP - XOP: Oil Turns Quiet E&P Stocks Remain A Bargain

SPDR S&P Oil & Gas Explor & Product

2024-05-07 02:34:48 ET

Summary

  • Oil prices have fallen with new ceasefire news in the Middle East, while natural gas prices have risen ahead of summer, creating mixed trends for oil and gas producers.
  • I have a buy rating on the SPDR S&P Oil & Gas Exploration & Production ETF for its low valuation, robust free cash flow, and high dividend yield.
  • XOP has a concentrated industry portfolio and faces seasonal headwinds, but its technical situation suggests a broad uptrend with potential for further upside.
  • I outline key price levels to monitor for the months ahead.

Oil prices have wavered recently. Tensions in the Middle East , for now, have ebbed, resulting in a pullback in what had been a strong rally year to date in WTI. Now under the $80 per barrel level, there is not much action in the oil space. ...

For further details see:

XOP: Oil Turns Quiet, E&P Stocks Remain A Bargain
Stock Information
Company Name: SPDR S&P Oil & Gas Explor & Product
Stock Symbol: XOP
Market: NYSE
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