Skylands Capital LLC Cuts Stock Position in SPDR S&P Oil & Gas Exploration & Production ETF $XOP

Skylands Capital LLC reduced its holdings in shares of SPDR S&P Oil & Gas Exploration & Production ETF (NYSEARCA:XOP) by 26.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,585 shares of the company’s stock after selling 16,045 shares during the period. SPDR S&P Oil & Gas Exploration & Production ETF comprises approximately 1.1% of Skylands Capital LLC’s portfolio, making the stock its 29th biggest holding. Skylands Capital LLC’s holdings in SPDR S&P Oil & Gas Exploration & Production ETF were worth $8,289,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Abound Wealth Management purchased a new stake in shares of SPDR S&P Oil & Gas Exploration & Production ETF in the 4th quarter valued at $25,000. Godfrey Financial Associates Inc. bought a new stake in SPDR S&P Oil & Gas Exploration & Production ETF in the fourth quarter worth $30,000. IFP Advisors Inc boosted its position in SPDR S&P Oil & Gas Exploration & Production ETF by 360.3% during the third quarter. IFP Advisors Inc now owns 290 shares of the company’s stock valued at $38,000 after buying an additional 227 shares during the period. Winthrop Capital Management LLC boosted its position in SPDR S&P Oil & Gas Exploration & Production ETF by 40.7% during the third quarter. Winthrop Capital Management LLC now owns 332 shares of the company’s stock valued at $44,000 after buying an additional 96 shares during the period. Finally, Advisory Services Network LLC bought a new position in shares of SPDR S&P Oil & Gas Exploration & Production ETF during the third quarter valued at about $46,000.

Key SPDR S&P Oil & Gas Exploration & Production ETF News

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

• Positive Sentiment: U.S. natural gas futures are extending gains as hotter weather is expected across much of the U.S. over the next two weeks, which could support producers with exposure to gas prices. U.S. Natural Gas Futures Extend Gains on Coming Hot Weather
• Neutral Sentiment: Some analysts say oil may be approaching technical support after a sharp pullback, which could help stabilize energy shares if selling pressure starts to ease. Crude Oil Price Forecast: Can Oil Rebound from Oversold Conditions?
• Negative Sentiment: U.S. crude dipped below $70 a barrel as traders focused on improving tanker flow through the Strait of Hormuz, reducing the war-related risk premium that had supported energy prices. US crude oil falls below $70 a barrel despite Iranian attack on cargo ship
• Negative Sentiment: Reuters reported oil prices are falling as more tankers exit the Strait of Hormuz, signaling easing supply concerns and adding to weekly losses for crude. Oil edges lower amid resumption of strait shipments even as vessel hit near Oman
• Negative Sentiment: Oil futures are being weighed by signs of further easing in Middle East tensions and a move back toward pre-war pricing, which can hurt exploration-and-production names in XOP. Oil Futures Fall On Likely Technical Correction

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

XOP opened at $154.68 on Friday. The stock’s 50 day simple moving average is $166.29 and its 200 day simple moving average is $154.63. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 11.28 and a beta of 0.52. SPDR S&P Oil & Gas Exploration & Production ETF has a 1 year low of $121.46 and a 1 year high of $190.36.

SPDR S&P Oil & Gas Exploration & Production ETF 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.