Bessemer Group Inc. Lowers Position in SPDR S&P Oil & Gas Exploration & Production ETF $XOP

Bessemer Group Inc. trimmed its position in shares of SPDR S&P Oil & Gas Exploration & Production ETF (NYSEARCA:XOP) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 505,649 shares of the company’s stock after selling 5,691 shares during the quarter. Bessemer Group Inc.’s holdings in SPDR S&P Oil & Gas Exploration & Production ETF were worth $66,847,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in XOP. Canoe Financial LP acquired a new stake in SPDR S&P Oil & Gas Exploration & Production ETF in the third quarter valued at $593,000. Allianz SE increased its holdings in shares of SPDR S&P Oil & Gas Exploration & Production ETF by 33.5% in the 2nd quarter. Allianz SE now owns 51,025 shares of the company’s stock valued at $6,419,000 after purchasing an additional 12,800 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of SPDR S&P Oil & Gas Exploration & Production ETF by 31.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 9,558 shares of the company’s stock valued at $1,202,000 after purchasing an additional 2,262 shares in the last quarter. Allworth Financial LP lifted its stake in shares of SPDR S&P Oil & Gas Exploration & Production ETF by 759.5% in the second quarter. Allworth Financial LP now owns 636 shares of the company’s stock valued at $80,000 after purchasing an additional 562 shares during the period. Finally, Valeo Financial Advisors LLC purchased a new stake in SPDR S&P Oil & Gas Exploration & Production ETF during the second quarter worth about $1,540,000.

More 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. crude inventories fell, which supports oil fundamentals and can help E&P cash flows over time. U.S. Crude Oil Stockpiles Fall Amid Lower Production
• Positive Sentiment: Technical signals: crude reclaimed its 200?day moving average and formed a higher low, indicating upside potential if momentum holds — a tailwind for XOP if sustained. Crude Oil Price Forecast: Recovery Above 200-Day Signals Upside Potential
• Neutral Sentiment: Longer-term supply developments: Kuwait Oil Co is in talks with U.S. operators to develop shale resources — a structural story that could affect supply over years, but unlikely to swing near?term oil prices. Kuwait Oil Co in talks with US operators to develop shale oil, gas resources
• Neutral Sentiment: Asset-level moves: BP is reportedly seeking partners for aging Iraqi fields — could modestly alter production economics for majors over time but not an immediate driver for XOP. BP seeks partner for one of the oldest Iraqi oil fields, Bloomberg News reports
• Negative Sentiment: Diplomatic détente hit risk premium: reports that the U.S. and Iran will hold talks, and broader easing of geopolitical tensions, pushed oil lower — the main near?term reason XOP weakened today. Oil extends decline ahead of US-Iran talks
• Negative Sentiment: Sector earnings pressure: ConocoPhillips missed quarterly profit estimates on weaker oil prices, a sign lower crude is already hitting upstream margins — negative for XOP constituents. ConocoPhillips misses quarterly profit estimates
• Negative Sentiment: Commodity slide after easing global tensions (China?U.S. outreach) pressured oil and other commodities broadly, prompting profit?taking in names near their highs. Precious metals, oil slide as global tensions ease; copper down
• Positive Sentiment: Refinery labor risk: a union asked workers at BP’s large Whiting refinery to prepare for a strike or lockout — a potential near?term support for refined?product and crude prices if it escalates. Union asks workers at BP’s Whiting, Indiana, oil refinery to prepare for strike or lockout

SPDR S&P Oil & Gas Exploration & Production ETF Trading Down 1.6%

Shares of XOP opened at $141.46 on Friday. SPDR S&P Oil & Gas Exploration & Production ETF has a twelve month low of $99.01 and a twelve month high of $144.15. The firm has a market capitalization of $2.29 billion, a P/E ratio of 11.28 and a beta of 0.95. The firm’s 50-day moving average is $131.44 and its two-hundred day moving average is $129.92.

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.