Exxon and Chevron are the fund's top two holdings , representing 9.73% and 9.27% of total assets in FSTEX as of April 30.
Exxon vs. Chevron Chevron came into the year facing production issues in the Permian Basin and cost overruns at its Tengiz project in Kazakhstan that frustrated investors, Holt said.
And investors have taken notice of Exxon's lead position in the lucrative offshore oil development in Guyana.
Chevron would look very attractive if the Hess deal closes due to the latter's large stake in Guyana, he said.
"There's a little concern that if Chevron doesn't do the Hess deal, then they have to go and do another deal," Holt said.
Persons:
Kevin Holt, Hess, Holt, hasn't, XOM, Chevron's, Tengiz
Organizations:
Exxon Mobil, Chevron, Invesco Energy, Exxon, Hess Corp, Hess, Chevron Chevron
Locations:
Guyana, U.S, Stabroek, FSTEX, Kazakhstan, Holt, Tengiz