XLE Stock Recent News
XLE LATEST HEADLINES
Our oil trade keeps working for us. In our February 9th Digest, we wrote “oil and gas stocks are setting up for another run that's going to make investors a hefty chunk of change.”
Oil prices have been boosted by OPEC's decision to cut production even as oil demand is rising.
The Energy Sector appears attractively valued, and many top companies in the largest fund, XLE, are currently trading below our estimated Fair Value ranges. Despite this, bottom-up momentum appears broad, and the sector could be on the verge of an ascending-triangle breakout towards all-time highs. We think that buying the potential breakout above $94.72, and using a trailing monthly stop loss, may be the key to maximizing potential returns.
Last month, the energy sector saw notable gains thanks to escalating geopolitical tensions in the Middle East and Russia. Among the beneficiaries is Occidental Petroleum (NYSE: OXY), a favorite stock of renowned investor Warren Buffett, which is poised for a significant increase in value as it nears a Golden Cross formation.
MLPX and XLE are two of the largest energy ETFs in the market. XLE offers diversified exposure to energy companies, while MLXP focuses on midstream. Both funds have above-average yields and cheap valuations, but differ in several key ways.
Launched on 12/16/1998, the Energy Select Sector SPDR ETF (XLE) is a passively managed exchange traded fund designed to provide a broad exposure to the Energy - Broad segment of the equity market.
For investors seeking momentum, Energy Select Sector SPDR XLE is probably on the radar. The fund just hit a 52-week high and is up about 23% from its 52-week low price of $76.25/share.
The SPDR Energy Select Sector ETF (XLE) stock price surged to a record high as the price of crude oil formed a golden cross. The ETF soared to a high of $94, its highest point on record.
The final trades of the day with CNBC's Melissa Lee and the Fast Money traders.
Commodity prices, particularly oil and gasoline, could rise if the Fed signals a willingness to let inflation run hot and cut interest rates. The Energy Select Sector SPDR ETF (XLE) is testing its all-time high, suggesting a potential breakout and significant rally if oil and gasoline prices increase. Exxon and Chevron, which make up a significant portion of the ETF, would also benefit from rising oil and gasoline prices.