Barron’s notes ConocoPhillips (NYSE: COP), the largest independent oil and natural gas producer in the U.S., has been seeing new buyers come in and “has actually been rallying for two months and broke through a trendline in late February.” After settling litigation related to Tronox (NYSE: TROX), shares of Anadarko Petroleum (NYSE: APC) are up more than 16% in the past month. Conoco and Anadarko are both top-10 holdings in XLE, combining for nearly 7% of the ETF’s weight. [An Oil ETF Breaks Out]
Anadarko is also a top-10 holding in the First Trust ISE-Revere Natural Gas Index Fund (NYSEArca: FCG), the top-performing non-leveraged energy ETF over the past month. FCG has also been outperforming natural gas futures by a wide margin. [Nat Gas ETF Finally Beats Commodity]
“From the long-term perspective, it completed a bullish ‘flag’ pattern, as well, and the trend remains up. That should help natural gas stocks, too,” Barron’s said of the United States Natural Gas Fund (NYSEArca: UNG).
Energy Select Sector SPDR