Energy sector's risk-off stance, underperformance so far in 2024

Key Points

  • The energy sector faces a risk-off scenario in 2024, grappling with underperformance amid market shifts.
  • Exxon Mobil (XOM) and Chevron (CVX) experience downtrends, signaling challenges and outflows within the sector.
  • Geopolitical tensions and OPEC decisions further contribute to the energy sector's complex landscape.
  • MarketBeat previews the top five stocks to own by March 1st.

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Ryan Hasson
About The Author

Ryan Hasson

Contributing Author

Technical Analysis, Momentum Trading, Risk Management

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Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Energy Select Sector SPDR Fund (XLE)N/A$90.07+0.4%3.57%8.52Moderate Buy$90.07
Chevron (CVX)
4.8835 of 5 stars
$155.32-0.4%4.20%15.98Moderate Buy$174.13
Exxon Mobil (XOM)
4.8479 of 5 stars
$108.17+0.0%3.66%13.80Moderate Buy$129.25
Schlumberger (SLB)
4.7573 of 5 stars
$41.75-0.8%2.73%13.42Moderate Buy$55.81
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