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The Energy Sector Is Outperforming the S&P 500 This Week

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Part 3
The Energy Sector Is Outperforming the S&P 500 This Week PART 3 OF 5

PARR, INT, GPRE: Refining and Marketing Losers This Week

Refining and marketing losers

In this article, we’ll look at the top losing stocks in the current week from the refining and marketing sector in the US. We have selected refining and marketing companies with market capitalizations of greater than $100 million and a weekly average volume greater than 100,000 shares.

PARR, INT, GPRE: Refining and Marketing Losers This Week

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Par Pacific Holdings is refining and marketing loser this week

Par Pacific Holdings (PARR) is the biggest loser in the current week from the refining and marketing sector. It fell from last week’s close of $21.00 to $19.72 on November 8, a 6.1% fall.

PARR started its decline on Tuesday after the company announced its 3Q17 earnings on Monday after the market closed. In 3Q17, Par Pacific Holdings reported revenues of ~$610 million, lower than the Wall Street analyst consensus of ~$623 million. However, PARR beat the EPS estimates by $0.04 in 3Q17. PARR reported an adjusted profit of $0.55 per share, whereas the Wall Street analyst consensus was for profit of $0.49 per share. After the earnings were announced on Monday, PARR fell ~5% in one trading session on Tuesday.

The other refining and marketing losers in the current week are World Fuel Services (INT) and Green Plains (GPRE). These stocks are down by 4.3% and 2.4%, respectively, in the current week. World Fuel Services has been in a very strong downtrend after it announced its 3Q17 earnings on October 26, 2017. Even though INT’s revenues of ~$8.5 billion beat the Wall Street analyst estimates of ~$8.05 by a wide margin, it just managed to meet the EPS expectations of $0.60.

PARR, INT, and GPRE are underperforming the PowerShares Dynamic Energy Exploration & Production Portfolio (PXE), which is up 2.5% this week. PXE’s top holdings include refining names like Phillips 66 (PSX) and Marathon Petroleum (MPC).

In comparison, the SPDR S&P 500 ETF (SPY) is up 0.26% in the current week.

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