That report did not specify which refiners Barclays lacks enthusiasm for, but the charts give investors clues regarding the refiners that probably should be avoided in the near-term. In the past month, Phillips 66 (NYSE: PSX) is down more than 14% while Marathon Petroleum (NYSE: MPC) has tumbled over 17%. Valero (NYSE: VLO) is lower by 14.1%. Those stocks combine for 13.3% of PXE’s weight and the ETF is home to at least five other stocks with refining exposure.
Investors will not have to wait long to see how refiners’ earnings will impact PXE. Valero reports on July 23 followed by Phillips 66 on July 31 and two more of the ETF’s holdings on August 1.
PowerShares Energy Exploration & Production Portfolio
ETF Trends editorial team contributed to this post.