"The SPDR S&P Oil & Gas Exploration & Production ETF ( NYSEARCA:XOP) tracks a basket of U.S. energy producers at a pivotal moment for the sector. As of February 13, 2026, the fund trades at $147.89, delivering a 17.1% year-to-date gain despite persistent commodity headwinds. This resilience reflects the portfolio's diversification across upstream producers, even as individual holdings face margin pressure from lower realized prices."
"ConocoPhillips ( NYSE:COP), a major holding, illustrates this challenge. The company's Q4 2025 performance reveals how commodity price volatility impacts producer margins: adjusted EPS came in at $1.02, falling short of estimates as realized prices declined 19% year-over-year to $42.46 per barrel of oil equivalent. The fund's 99.9% concentration in energy makes it a pure play on upstream economics, amplifying both sector opportunities and risks."
"Top holdings include Venture Global at 4.1%, Texas Pacific Land at 3.3%, and Exxon Mobil at 3.1%, providing exposure to both emerging LNG exporters and established majors. The portfolio's quality shows in operational performance- Diamondback Energy ( NASDAQ:FANG) exceeded Q3 2025 expectations with strong execution in the Permian Basin, posting EPS of $3.51. For investors, the ETF's 0.35% expense ratio keeps costs competitive while the 2.3% dividend yield provides income during periods of commodity price consolidation."
XOP is a 99.9% energy-concentrated ETF trading at $147.89 on February 13, 2026, and delivering a 17.1% year-to-date gain amid commodity headwinds. The fund holds dozens of upstream producers, including Venture Global, Texas Pacific Land, and Exxon Mobil, balancing exposure between emerging LNG exporters and major producers. Individual companies face margin pressure from lower realized prices, exemplified by ConocoPhillips' Q4 2025 adjusted EPS of $1.02 as realized prices fell 19% to $42.46 per boe. Diamondback demonstrated strong operational execution with EPS of $3.51. The ETF charges a 0.35% expense ratio and yields 2.3%.
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