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Mid-Week Energy Sector Update: Crude Oil Takes the Lead

PART:
1 2 3 4 5 6 7 8
Part 6
Mid-Week Energy Sector Update: Crude Oil Takes the Lead PART 6 OF 8

Which Refining and Marketing Energy Stocks Are Rising this Week?

Refining and marketing stocks

Continuing with our series of biggest movers in the energy sector, we’ll now look at the top-gaining stocks this week from the refining and marketing sector in the United States. To compile our list of the top refining and marketing movers, we selected refining and marketing companies with market capitalizations greater than $100 million and weekly average volumes greater than 100,000 shares.

Which Refining and Marketing Energy Stocks Are Rising this Week?

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CVR Refining: The top gainer

This week, CVR Refining (CVRR) is leading the list of gainers in the refining and marketing space. CVRR rose from last week’s close of $9.10 to $9.70 on September 27—an increase of more than 6%.

CVR Refining rose strongly on all three days so far this week. This week’s up-move in CVR Refining was part of its strong uptrend that started in mid-August. Due to this strong uptrend in CVRR, the stock has risen more than 43% since August 11. This uptrend also caused CVRR’s stock to surpass its 200-day moving average on Wednesday. This very positive technical development for CVRR indicates that CVRR might continue its uptrend. The current uptrend in CVRR also caused its 50-day moving average to turn upward on Tuesday—again a positive technical development for CVRR’s stock trend.

As of September 27, CVR Refining is trading at $9.70, whereas its 50-day and 200-day moving averages stand at $8.22 and $9.61, respectively.

Other refining and marketing stocks that rose this week

CVR Refining is followed by Phillips 66 (PSX), which saw a rise of 2.12% this week. Yesterday, PSX hit an all-time high of $92.08. PSX stock has also been in a strong uptrend since August 2017 and gained more than 13%.

Other notable gainers in the refining and marketing group are Valero Energy (VLO), HollyFrontier Corporation (HFC), and PBF Energy (PBF). Valero Energy (VLO) is also in a strong uptrend. It hit an all-time high of $75.88 yesterday. VLO is trading above its 50-day and 200-day moving averages—very strong technical signs. HFC and PBF are up more than one percentage point so far this week. Last week, HFC and PBF rose strongly, by ~5% and ~6%, respectively.

In general, so far this week, the VanEck Vectors Oil Refiners ETF (CRAK) is up 1.09% despite the marginal fall in gasoline prices. To learn more about how gasoline prices are performing this week, refer to Part 1 of this series.

In comparison, the SPDR Dow Jones Industrial Average ETF (DIA) is down marginally by 0.04% this week.

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