|Bid||63.33 x 2200|
|Ask||63.29 x 2200|
|Day's Range||62.96 - 63.93|
|52 Week Range||53.36 - 78.36|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.23|
|Expense Ratio (net)||0.13%|
Shares of ConocoPhillips shot up 5.2% in afternoon trading Wednesday, after Mizuho analyst Paul Sankey turned bullish oil and natural gas exploration company, citing a favorable "cash return message." Sankey raised his rating to buy and has an $80 stock price target, which implies a 27% rally from current levels. The stock was among the biggest gainers within the SPDR Energy Select Sector ETF , which climbed 1.9% with 28 of 29 components trading higher. "The company has taken major steps over the past years to improve unit cash margins (via divestitures and liquids-led unconventional growth) while reducing fixed cost burden by rightsizing capitalization (major debt reduction and share repurchase)," Sankey wrote in a note to clients. "We think the cash return message will begin to evolve and become more dividend-focused." The company's dividend yield 1.94% is below that of the energy ETF's yield of 3.35% and implied yield for the S&P 500 of 1.98%, according to FactSet. The stock has edged up 0.8% year to date, while the energy ETF has advanced 11.0% and the Dow Jones Industrial Average has rallied 14.0%.
The U.S.-listed shares of Brazil-based Petroleo Brasileiro S.A. , also known as Petrobras, fell 0.5% on NYSE-leading volume in afternoon trading Wednesday, to buck a broad rally in the energy sector, after the oil and gas exploration company priced a secondary share offering at a discount. Trading volume was 48.1 million shares, compared with the full-day average of about 13.5 million shares. Petrobras disclosed Wednesday that its public offering of 69.3 million American Depositary Shares (ADS) priced at $15.84 each, or 0.9% below Tuesday's closing price of $15.98. The offering was valued at $1.10 billion, which represented about 1.1% of the company's market capitalization. The stock lost 3.0% over the past three months, while the SPDR Energy Select Sector ETF has slipped 4.1% and the S&P 500 has gained 3.6%.
Shares of Kinder Morgan Inc. rose 0.6% in afternoon trading Wednesday, but lagged the broader energy sector's rally after the oil and gas pipeline and terminals operator was downgraded at Raymond James on concerns over valuation. Analyst Justin Jenkins cut his rating to market perform from outperform while keeping his stock price target at $21. "[Kinder Morgan's stock] has been on a strong run YTD (up about 35%), seemingly fueled by both insider buying and the company's 'name-brand' recognition with the generalist crowd," Jenkins wrote in a note to clients. The stock had closed at a 2-year high of $21.38 last Friday. Meanwhile, the SPDR Energy Select Sector ETF surged 2.1% with 28 of 29 components gaining ground, and with 23 stock rising by more than 1%, while the Dow Jones Industrial Average edged up 68 points, or 0.3%. The sector was rallying as crude oil futures surged 2.7% after government data showed a large drop in crude supply. Separately, Raymond James' Jenkins also downgraded Genesis Energy L.P. to market perform from outperform and Holly Energy Partners L.P. to underperform from market perform, while upgrading Williams Companies to strong buy from outperform.
There are four things that are favoring energy stocks right now. First, the Fed made it clear it will support the economy if necessary. Second, energy stocks have underperformed the broad stock market and even underperformed oil itself.
In the trailing week, the Energy Select Sector SPDR ETF (XLE) rose 3.7%—the largest among SPDR ETFs. The rise in oil prices might have boosted XLE.
US crude oil active futures have risen 8.6% in the trailing week, which might have boosted or limited the downside in OIH, XOP, XLE, and AMLP. They have returned 5.8%, 5%, 3.7%, and -0.7%, respectively.
Master limited partnerships (MLPs) and the related exchange traded funds, including the Alerian Energy Infrastructure ETF (ENFR) , are often favored destinations for income investors looking for energy exposure, but there are other benefits to this asset class beyond high yields. ENFR acts as a type of hybrid energy infrastructure ETF, which could help investors capture some of the high yields from MLPs but limits the tax hit from solely owning MLPs. A fund like ENFR can be a solid complement or alternative to traditional energy sector strategies like the Energy Select Sector SPDR (XLE) .
Energy stocks traded broadly higher Thursday, as increased tension in the Middle East fueled a surge in oil prices. The SPDR Energy Select Sector ETF jumped 1.8% in morning trading, with all 29 of its equity components trading higher, while the Dow Jones Industrial Average hiked up 215 points, or 0.8%. Among the more-active members, shares of Halliburton Co. rose 3.0%, Marathon Oil Corp. gained 3.2%, Schlumberger Ltd. tacked on 3.1%, Exxon Mobil Corp. advanced 1.7% and Chevron Corp. added 1.1%. Elsewhere, Chesapeake Energy Corp.'s stock powered up 4.4% on NYSE-leading volume of 6.3 million shares. August crude oil futures rallied 4.5%, after news that Iran's Revolutionary Guard said it shot down a U.S. drone. Also helping boost prices, data out Wednesday showed that U.S. crude supplies fell, and a firmer date for an Organization of the Petroleum Exporting Countries (OPEC) meeting was in place to review pledged production limits.
The energy sector has had its share of thrills and spills this year. The Energy Select Sector SPDR (NYSE: XLE ), the largest exchange traded fund devoted to that sector, is up 8.75% year to date even with ...
Shares of Kinder Morgan Inc. slipped 0.2% in premarket trade Monday, after the oil and gas pipeline operator was downgraded at Stifel Nicolaus, citing concerns over valuation. Analyst Selman Akyol cut his rating to hold, after being at buy for more than three years. He kept his stock price target at $22, which is 7.2% above Friday's closing price; Stifel defines a hold rating as a total return of -5% to +10% over the next 12 months. The stock has soared 33.5% year to date, while the S&P 500 has gained 15%. Akyol said he continues to view Kinder Morgan favorably, given its more moderate leverage, high coverage and dividend growth, but he said the valuation already reflects the positive catalysts. Kinder Morgan's dividend yield at Friday's closing price was 4.87%, which was above the SPDR Energy Select Sector's payout of 3.39% and the S&P 500's implied yield of 1.99%, according to FactSet.
US crude oil active futures have fallen 0.6% in the last week, possibly dragging down or limiting XOP, XLE, OIH, and AMLP, which have returned -1.4%, 0.7%, 1.3%, and 0.7%, respectively.
Shares of oil and gas company Chesapeake Energy Corp. slumped 4.4% toward a six-month low in afternoon trading Friday, despite a bump in crude oil prices, as longer-term concerns over global oil demand helped set off a broad selloff in the energy sector. The SPDR Energy Select Sector ETF shed 0.8%, with 28 of 29 components losing ground, while the S&P 500 eased 0.3%. Among the ETF's more-active components, shares of Halliburton Co. lost 2.1%, Schlumberger Ltd. declined 3.0%, Exxon Mobil Corp. gave up 0.5%, Marathon Oil Corp. slid 2.3% and Occidental Petroleum Corp. fell 0.7%. Crude oil futures rose 0.8%, after settling up 2.2% on Thursday. Meanwhile, the International Energy Agency cut its 2019 oil demand forecast for a second-straight month, citing a slowing in the global economy.
The markets paused the rally when stocks closed lower on Tuesday after a Reuters report indicated President Trump’s intention in regards to trade negotiations. President Trump said on Tuesday that he is holding up the trade deal with China until Beijing agrees on as many as five “major points.”
Apple prices in China are up almost 30%, detracting from its consumption for the commodity, according to the latest data from grocery delivery platform Dada-JD Daojia. This latest development could put ...
Energy sector exchange traded funds led the charge on Thursday after crude oil prices spiked in response to supply fears, following an attack on two oil tankers in the Gulf of Oman, close to the Strait ...
Energy stocks rallied in unison Thursday to pace the S&P 500's sector gainers, with crude oil futures surging as U.S. Secretary of State Mike Pompeo said Iran was to blame for a number of recent incidents, including the attacks Thursday on two oil tankers in the Middle East. The SPDR Energy Select Sector ETF rallied 1.3% in afternoon trade, with all 29 equity components gaining ground. Among the more-active components, shares of Halliburton Co. hiked up 2.8%, Marathon Oil Corp. gained 1.8%, Schlumberger NV rose 3.7%, Exxon Mobil Corp. tacked on 0.8% and Kinder Morgan Inc. advanced 0.8%. Meanwhile, crude oil futures surged 2.8%, after settling Wednesday at a 5-month low. The energy ETF has lost 6.9% year to date, while the S&P 500 tacked on 2.8%.
Shares of Chesapeake Energy Corp. shot up 3.1% in active afternoon trading Thursday, to bounce off a 6-month low hit earlier in the session, as a rally in crude oil prices helped provide a boost to the oil and gas exploration and production company. Trading volume was 39.7 million shares, enough to make the stock the most actively traded on the New York Stock Exchange. The stock had hit an intraday low of $1.75 in morning trading, matching Wednesday's intraday low which was the lowest price seen Dec. 24. Helping provide support, crude oil futures rallied 2.5% to bounce off a 5-month low as apparent attacks on two oil tankers in the Middle East fueled supply concerns. Chesapeake's stock has tumbled 40% over the past three months, while the crude futures have lost 10%, the SPDR Energy Select Sector ETF has declined 6.8% and the S&P 500 has gained 2.9%.
Energy sector ETFs were among the worst hit in the risk-off selling on Wednesday as crude oil prices plunged on an unexpected rise in U.S. crude inventories and a weaker global outlook. Among the hardest ...
Legacy Reserves Inc.'s stock plunged 42% in active premarket trade Tuesday, after the oil and gas company said it expects to file for bankruptcy, in an effort to facilitate the implementation of a restructuring agreement with its lenders. Trading volume topped 3 million shares ahead of the open. The agreement will provide for a de-leveraging of its capital structure by over $900 million, including an equity capital infusion of at least $200 million; and payment in full of its other secured creditors, tax and other claimants, trade creditors and employees. The company said it will continue to operate its business without material disruption. "We explored a wide variety of alternatives to address our balance sheet and looming bank maturity during a sustained downturn in oil and gas prices," said Chief Executive Dan Westcott. "After concluding this broad process, we believe that the financial restructuring negotiated with our creditors provides the best path forward for the company." The stock has plummeted 83% year to date through Monday, while the SPDR Energy Select Sector ETF has gained 7.2% and the S&P 500 has advanced 15%.
The future course of oil prices and energy ETFs rest on the fate of U.S.-China trade tensions and extension of the output cut deal after June.
Markets are hovering near all-time highs on hopes that the Fed will cut rates but history tells a different story. Lisa Erickson, Head of Traditional Investments at U.S. Bank Wealth Management, joins Seana Smith on 'The Ticker' to discuss.
Yahoo Finance's Adam Shapiro and Julie Hyman are joined by Yousef Abassi, director of U.S. Institutional Equities and Global Market Strategist at INTL FCStone, and Girard CIO Timothy Chubb to break down President Trump's shots at the Fed, the ongoing tariff threat, and other opportunities in the market, including in financials.
Oil prices are surging today after an earlier attack on two tankers in the Gulf of Oman. THE ENERGY WORD Founder Dan Dicker discusses with Yahoo Finance’s Adam Shapiro, Julie Hyman, and Rick Newman.