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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 May 1st.
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Should You Invest $1,000 in Schlumberger Right Now?

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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$93.45+1.1%3.08%15.58Moderate Buy$93.45
Chevron (CVX)
4.5572 of 5 stars
$167.52+0.9%4.08%17.23Moderate Buy$174.13
Exxon Mobil (XOM)
4.6582 of 5 stars
$119.09+1.2%3.33%15.19Moderate Buy$129.05
Schlumberger (SLB)
4.8383 of 5 stars
$41.83-0.1%2.73%13.45Moderate Buy$55.69
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