SPDR S&P Oil & Gas Exploration & Production ETF (NYSEARCA:XOP) Shares Gap Down – What’s Next?

Shares of SPDR S&P Oil & Gas Exploration & Production ETF (NYSEARCA:XOP) gapped down prior to trading on Wednesday . The stock had previously closed at $180.34, but opened at $166.42. SPDR S&P Oil & Gas Exploration & Production ETF shares last traded at $169.12, with a volume of 2,430,939 shares changing hands.

Key Stories Impacting SPDR S&P Oil & Gas Exploration & Production ETF

Here are the key news stories impacting SPDR S&P Oil & Gas Exploration & Production ETF this week:

• Positive Sentiment: Prior supply-risk-driven strength had supported E&P stocks — physical crude prices hit record highs near $150 a barrel as Hormuz disruptions intensified, which would have boosted XOP if sustained. Physical oil prices hit record highs near $150 a barrel as Hormuz crisis worsens
• Positive Sentiment: Bank research expected elevated oil through 2Q on prolonged Middle East disruption, supporting E&P revenue outlook and ETF flows into energy. Iran War Will Keep Oil Prices High Through 2Q, Westpac Says
• Positive Sentiment: Energy was a top-performing sector in Q1, highlighting strong investor interest that can support XOP on renewed oil strength. 4 Top-Performing Sector ETFs of Q1 2026
• Neutral Sentiment: Technical and short-term forecasts show mixed signals — analysts note bullish longer-term structure but warn of short pullbacks, implying elevated volatility for XOP. Crude Oil Price Forecast: Overextension May Prompt Short-Term Pullback
• Neutral Sentiment: Macro market reaction to geopolitical moves is broad — equities rallied and safe havens moved after ceasefire headlines, so flows may rotate between sectors and influence XOP indirectly. U.S.-Iran ceasefire relief rally lifts global assets as oil plunges below $100
• Negative Sentiment: Ceasefire announcement sharply reduced Strait of Hormuz supply risk and sparked a large oil sell-off, removing the risk premium that had supported E&P shares — this is the primary driver of XOP’s decline today. Natural Gas and Oil Forecast: Oil Crashes 16% as Ceasefire Ends Hormuz Supply Risk
• Negative Sentiment: Major outlets reported multi-dollar-per-barrel drops in US crude futures after the ceasefire/de-escalation headlines, a direct negative for E&P revenue expectations and XOP valuations. US crude futures fall $12.04 to $100.90/bbl after Trump announces two week ceasefire
• Negative Sentiment: Unusual options activity: a large jump in put buying on XOP (52,414 puts bought, ~128% above normal) suggests some investors are hedging or speculating on further downside, which can amplify intraday selling pressure.

SPDR S&P Oil & Gas Exploration & Production ETF Stock Performance

The company has a market cap of $3.33 billion, a price-to-earnings ratio of 11.28 and a beta of 0.78. The business’s 50 day moving average price is $160.21 and its 200-day moving average price is $140.63.

Hedge Funds Weigh In On SPDR S&P Oil & Gas Exploration & Production ETF

A number of hedge funds have recently made changes to their positions in the business. World Investment Advisors grew its holdings in shares of SPDR S&P Oil & Gas Exploration & Production ETF by 27.6% in the 4th quarter. World Investment Advisors now owns 3,797 shares of the company’s stock worth $479,000 after purchasing an additional 822 shares during the last quarter. ARP Global Capital Ltd bought a new stake in shares of SPDR S&P Oil & Gas Exploration & Production ETF in the 4th quarter worth about $9,596,000. Corient Private Wealth LLC grew its holdings in shares of SPDR S&P Oil & Gas Exploration & Production ETF by 2.2% in the 4th quarter. Corient Private Wealth LLC now owns 14,110 shares of the company’s stock worth $1,782,000 after purchasing an additional 308 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in shares of SPDR S&P Oil & Gas Exploration & Production ETF in the 4th quarter worth about $9,999,000. Finally, NewEdge Advisors LLC grew its holdings in shares of SPDR S&P Oil & Gas Exploration & Production ETF by 24.3% in the 4th quarter. NewEdge Advisors LLC now owns 3,142 shares of the company’s stock worth $397,000 after purchasing an additional 615 shares during the last quarter.

SPDR S&P Oil & Gas Exploration & Production ETF Company Profile

SPDR S&P Oil & Gas Exploration & Production ETF (the Fund) seeks to replicate as closely as possible the total return performance of the S&P Oil & Gas Exploration & Production Select Industry Index. The S&P Oil & Gas Exploration & Production Select Industry Index represents the oil and gas exploration and production sub-industry portion of the S&P Total Markets Index. The S&P TMI tracks all the United States common stocks listed on the New York Stock Exchange, American Stock Exchange, National Association of Securities Dealers Automated Quotation (NASDAQ) National Market and NASDAQ Small Cap exchanges.