Par Pacific: The Only Refining and Marketing Loser This Week
Refining and marketing stocks
In this part of the series, we’ll look at the top losing stock this week from the refining and marketing subsector in the United States. To compile a list of the top refining and marketing movers, we’ve selected refining and marketing companies with market capitalizations greater than $100.0 million and weekly average volumes greater than 100,000 shares.
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Par Pacific Holdings: Refining and marketing laggard
Par Pacific Holdings (PARR) is the only laggard in the current week from the refining and marketing sector. It fell from last week’s close of $20.70 to $20.67 on October 11, 2017, or marginally by 0.14%. While there’s no specific news on the stock this week, PARR has been on a strong uptrend since August 9, 2017, rising almost 26.0% since then. So this week’s move in PARR looks like a correction in the ongoing upward move. Currently, PARR stock has strong support with its 50-day moving average at $18.59. Due to the current upward move, PARR hit a 52-week high of $21.94 on September 29, 2017.
On October 6, 2017, Par Pacific Holdings announced it would release its 3Q17 earnings after the market closes on November 1, 2017.
Even though the fall in PARR isn’t substantial, it’s underperforming the PowerShares Dynamic Energy Exploration & Production ETF (PXE), which has risen 0.69% this week. PXE’s top holdings include refiners Valero Energy (VLO), Phillips 66 (PSX), and Marathon Petroleum (MPC).
In comparison, the SPDR S&P 500 ETF (SPY) has risen 0.26% this week.