Concurrent Investment Advisors LLC Purchases 24,188 Shares of SPDR S&P Oil & Gas Exploration & Production ETF $XOP

Concurrent Investment Advisors LLC boosted its position in SPDR S&P Oil & Gas Exploration & Production ETF (NYSEARCA:XOP) by 1,122.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,343 shares of the company’s stock after acquiring an additional 24,188 shares during the period. Concurrent Investment Advisors LLC’s holdings in SPDR S&P Oil & Gas Exploration & Production ETF were worth $4,064,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Continuum Advisory LLC bought a new position in shares of SPDR S&P Oil & Gas Exploration & Production ETF in the 2nd quarter valued at about $28,000. Godfrey Financial Associates Inc. bought a new stake in shares of SPDR S&P Oil & Gas Exploration & Production ETF during the fourth quarter worth approximately $30,000. IFP Advisors Inc raised its stake in shares of 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 worth $38,000 after buying an additional 227 shares during the last quarter. Essential Partners LLC acquired a new position in SPDR S&P Oil & Gas Exploration & Production ETF in the first quarter valued at approximately $44,000. Finally, Advisory Services Network LLC acquired a new position in SPDR S&P Oil & Gas Exploration & Production ETF in the third quarter valued at approximately $46,000.

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

Shares of XOP stock opened at $190.71 on Tuesday. SPDR S&P Oil & Gas Exploration & Production ETF has a 52-week low of $122.11 and a 52-week high of $194.83. The stock has a market cap of $4.02 billion, a PE ratio of 11.28 and a beta of 0.54. The firm’s 50 day moving average price is $174.28 and its two-hundred day moving average price is $169.35.

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 reached a six-week high as U.S.-Iran hostilities and attacks involving vessels near the Strait of Hormuz raised concerns about prolonged disruptions to Middle East exports. The threat is particularly important for oil markets because the waterway handles a significant share of global shipments. Oil extends gains after US and Iran strike ships
• Positive Sentiment: Additional attacks on Saudi Aramco facilities and tanker strikes further increased the risk premium in WTI and Brent crude. Goldman Sachs reportedly sees a potential move toward $120 per barrel if attacks on Middle East shipping intensify, a scenario that would likely benefit XOP’s upstream producers. Goldman sees $120/bbl oil risk if attacks on Middle East vessels intensify
• Positive Sentiment: OPEC+ agreed to keep October production unchanged after six consecutive monthly increases. With Hormuz traffic already constrained, the lack of additional supply could help keep crude prices elevated. OPEC, Allies Agree to Keep Oil Output Steady in October
• Neutral Sentiment: Technical analysts said bullish chart patterns continue to support crude, but Brent faces resistance near $100. A potential decline in gasoline prices could provide relief for consumers, while also limiting some of the benefit of higher crude prices for energy equities. Crude Oil Forecast: WTI, Brent Bulls Target Key Breakouts

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.