“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.”
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