⚡️ConocoPhillips, Cheniere, and Texas Pacific Land Corp See Declines Amid Tariff Concerns and Market Volatility | Energy Sector Insights
(XLE) has experienced a decline since Friday. Significant contributors to this downturn include ExxonMobil (XOM), EOG Resources (EOG), ConocoPhillips (COP), Chevron (CVX), and Marathon Petroleum (MPC), all of which reported negative returns.
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Below are AI-generated insights on moves in the energy sector, powered by MarketReader technology.
Monday, March 3
XLE [-0.9%]
Energy Select Sector SPDR Fund
The Energy Select Sector SPDR Fund (XLE) has experienced a decline since Friday. Significant contributors to this downturn include ExxonMobil (XOM), EOG Resources (EOG), ConocoPhillips (COP), Chevron (CVX), and Marathon Petroleum (MPC), all of which reported negative returns. Notably, Morgan Stanley and JPMorgan have adjusted their price targets for EOG, reflecting a cautious outlook amid current market conditions. Macro events have also played a role, with the ISM Manufacturing PMI for February 2025 falling below expectations, indicating slower growth in the manufacturing sector. Additionally, ISM Manufacturing Prices surged significantly, though this had a minimal impact on XLE shortly after release. Meanwhile, WTI oil prices have declined, further aligning with the downward movement of XLE.