“Chevron reported a profit of $3.7 billion, or $1.95 per share, compared with $3.11 billion, or $1.64 a share a year earlier. Analysts’ mean forecast was $1.87 a share, according to Refinitiv,” reports Reuters.
Investors leaning toward value stocks could also boost XLE as 2019 moves forward.
““A lot of the energy stocks still look good both from a valuation and dividend yield perspective and we like both of these, even though fundamentally they’re very different,” said Erin Gibbs, portfolio manager at S&P Global in an interview with CNBC. “They’re part of that whole value play and actually value has been keeping up and actually slightly outpacing the broader market.”
For more information on the oil market, visit our energy category.
