Truist Financial Corp Has $1.06 Million Stake in SPDR S&P Oil & Gas Exploration & Production ETF $XOP

Truist Financial Corp trimmed its holdings in SPDR S&P Oil & Gas Exploration & Production ETF (NYSEARCA:XOP) by 60.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,409 shares of the company’s stock after selling 13,002 shares during the period. Truist Financial Corp’s holdings in SPDR S&P Oil & Gas Exploration & Production ETF were worth $1,062,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in XOP. Jones Financial Companies Lllp raised its position in shares of SPDR S&P Oil & Gas Exploration & Production ETF by 6.6% in the first quarter. Jones Financial Companies Lllp now owns 7,389 shares of the company’s stock valued at $973,000 after buying an additional 457 shares in the last quarter. Cresset Asset Management LLC raised its position in shares of SPDR S&P Oil & Gas Exploration & Production ETF by 21.0% in the second quarter. Cresset Asset Management LLC now owns 2,037 shares of the company’s stock valued at $256,000 after buying an additional 354 shares in the last quarter. Cerity Partners LLC raised its position in shares of SPDR S&P Oil & Gas Exploration & Production ETF by 24.2% in the second quarter. Cerity Partners LLC now owns 11,355 shares of the company’s stock valued at $1,428,000 after buying an additional 2,210 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in shares of SPDR S&P Oil & Gas Exploration & Production ETF by 1,641.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 7,367 shares of the company’s stock worth $927,000 after acquiring an additional 6,944 shares in the last quarter. Finally, Caption Management LLC acquired a new stake in shares of SPDR S&P Oil & Gas Exploration & Production ETF during the 2nd quarter worth approximately $1,642,000.

SPDR S&P Oil & Gas Exploration & Production ETF Trading Up 2.9%

NYSEARCA XOP opened at $174.13 on Friday. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 11.28 and a beta of 0.56. The firm’s 50 day simple moving average is $171.41 and its 200 day simple moving average is $147.61. SPDR S&P Oil & Gas Exploration & Production ETF has a 1 year low of $118.14 and a 1 year high of $190.36.

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: Oil prices are being supported by ongoing fears over ship attacks, seizures, and limited flows through the Strait of Hormuz, which can lift earnings expectations for exploration and production companies. Oil rises as fears of ship attacks and seizures persist
• Positive Sentiment: Crude surged after Trump warned Iran over Hormuz, reinforcing the view that a prolonged supply disruption could keep prices elevated and benefit oil producers. Oil News: Crude Oil Futures Surge as Trump Warns Iran Over Hormuz
• Positive Sentiment: Analysts said oil could reach $150 per barrel in an extreme escalation scenario, which would be a major tailwind for XOP if supply fears intensify further. Capital Economics sees oil at $150 per barrel through 2027 an extreme case
• Positive Sentiment: Global oil inventories are being drawn down rapidly during the Iran war, raising the risk of a tighter market and supporting upstream energy shares. The World Is Burning Through Its Oil Safety Net
• Neutral Sentiment: U.S. and Chinese actions may have softened the immediate oil shock by boosting U.S. exports and reducing Chinese imports, which could moderate the pace of further upside in crude. How China and U.S. eased the Middle East oil shock and kept prices from spiking even higher
• Neutral Sentiment: The UAE is accelerating a pipeline project to bypass Hormuz, which could eventually reduce disruption risk, but the project would not be online until 2027. UAE to accelerate oil pipeline project to help bypass Hormuz
• Neutral Sentiment: U.S. oil refiners are seeing better biofuels margins thanks to mandates and higher fuel prices, but this is more directly beneficial to refining than to XOP’s upstream-heavy portfolio. US oil refiners finally profit from biofuels due to mandates, high fuel prices

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

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.