Which Refining and Marketing Energy Stocks Are Rising This Week?
Refining and marketing stocks
In this part of the series, we’ll look at the top percentage gainers from the refining and marketing sector in the United States for the current week, which started October 9, 2017. 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 last week’s average trading volume greater than 100,000 shares.
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CVR Refining: The top gainer
So far this week, CVR Refining (CVRR) is leading the list of gainers in the refining and marketing group. It rose from last week’s close of $10.20 to $11.30 on October 11, 2017, a rise of almost 11.0%. It rose strongly on the first two days of this week. On Monday, CVRR stock marked the first higher high on a weekly basis since January 2017. The higher high was accompanied by one of the highest volumes of 2017, which is a positive technical indicator for the stock.
This week’s upward move for CVR Refining is part of its strong uptrend, which started in mid-August 2017. It has risen more than 67.0% since August 11.
Other refining and marketing stocks that have risen this week
CVR Refining is followed by HollyFrontier (HFC), which has risen 3.1% this week. Last week, HFC hit a 52-week high of $37. The stock has been in a strong uptrend since June 2017, rising more than 55.0%.
Other notable gainers in the refining and marketing group are PBF Energy (PBF), Delek US Holdings (DK), and Phillips 66 (PSX), which have risen 2.5%, 1.2%, and 0.93%, respectively. On Monday, October 9, 2017, Phillips 66 (PSX) announced a new share repurchase program in which it will purchase its common stocks up to $3.0 billion. PSX also announced a quarterly cash dividend of $0.70 per share for its common stock. The dividend is payable on December 1, 2017, to stockholders of record as of November 17, 2017. On October 11, 2017, PSX closed at $93.68.
So far this week, The VanEck Vectors Oil Refiners ETF (CRAK) has risen 0.48% due to the rise in gasoline prices. To know 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) has risen 0.47% this week.