XOP News and Press, SPDR S&P Oil & Gas Explor & Product From 02/06/23

Summary U.S. November production decreased by 35 kb/d to 12,375 kb/d. Since the beginning of April 2021 through to the week ending July 29, 2022, the US added horizontal oil rigs at a rate of close to 3.82 rigs/wk, orange OLS line, and peaked at 551 rigs in the week ending July 29. ...

Summary As we head into the end of January, technical conditions in major stock indexes are showing a lot of strength. We think a bear market that could easily trim 50% from indexes is in the cards, but timing is everything. We find price action-driven measures more reliable than su...

Summary We used the call debit spread strategy last month to get long this fund. Shares rallied somewhat after our buy-call before turning over last month. By monitoring the fund's trend, implied volatility, and theta numbers, we believe we can be quick in taking losses over time. ...

Summary Energy had a record year in 2022, but it is still a great place to put your money to work in 2023, as drivers of last year's performance are intact. The sector has the best-projected earnings growth in the S&P 500. There is secular price support from chronic underinvestment ...

Summary After a record-setting 2022, energy sector earnings are likely to generally decline in 2023, though forecasts point to another strong year by historical standards. Even with a year-over-year earnings decline, energy companies can continue to execute on free cash flow generation ...

Summary Markets often turn well before the economy and we are starting to see Global PMIs stabilize. Like many other indicators, the market's "Pros and Cons" keep investors guessing. Investors are in the "glass half full" mindset. Negatives are placed on the back shelf now. Sent...

Summary PXE is a quant strategy-based ETF that invests across oil & gas stocks. The fund has impressively outperformed industry benchmarks in recent years. We are bullish on energy and see PXE continuing to outperform. The Invesco Dynamic Energy Exploration & Productio...

Summary The Energy sector often performs particularly poorly at the onset of a recession, and recent LEI data suggest we might already be in contraction. One energy equipment name features a high EV/EBITDA multiple and technical resistance. I highlight some key price levels to watch...

Summary Shares of the fund have started 2023 excellently with momentum to the fore. Implied volatility remains ultra-low which has us buying the fund's cheap call options through February call spreads. Buying volume plus the 7+ month coil leads us to believe that higher highs are co...

Summary The US EIA Short Term Energy Outlook was published on January 10, 2023. I doubt Russian C+C output will fall as much as the EIA has forecast. The Canadian forecast looks much too high. A guest post by D Coyne The US EIA Short Term Energy Outlook (STEO) ...