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

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Part 2
The Energy Sector Is Outperforming the S&P 500 This Week PART 2 OF 5

These Refining and Marketing Energy Stocks Are Rising This Week

Refining and marketing stocks

In this part, we’ll look at the top percentage gainers from the refining and marketing sector in the US for the current week, which started on November 6, 2017. For our list of top refining and marketing movers, we have selected refining and marketing companies with market capitalizations of over $100 million and an average trading volume in the last week above 100,000 shares.

These Refining and Marketing Energy Stocks Are Rising This Week

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The top gainer

In the current week, which began on November 6, 2017, HollyFrontier (HFC) is leading the list of gainers in the refining and marketing group. HFC rose from last week’s close of $40.14 to $42.32 on November 8, an increase of 5.4%.

HollyFrontier (HFC) has been rising sharply since last week and is now up by almost 17% in the last nine trading sessions. Last week on November 1, HollyFrontier announced its 3Q17 earnings before the market opened. In 3Q17, HollyFrontier reported revenues of ~$3.7 billion, much higher than the Wall Street analyst consensus of ~$3.2 billion. HFC beat the EPS estimates by $0.18 in 3Q17. HFC reported an adjusted profit of $1.07 per share, whereas the Wall Street analyst consensus was for profit of $0.89 per share. After its 3Q17 earnings were announced, HFC rose ~7% in one trading session.

Yesterday, HollyFrontier announced a dividend of $0.33 per share on its common stock. This dividend is payable on December 13, 2017, to stockholders of record as of November 21, 2017.

Other refining and marketing gainers

HollyFrontier is followed by CVR Refining (CVRR), which saw an increase of 4.8% in the current week. CVRR has been in a strong upward trend since November 1, 2017, after it announced a 50/50 joint venture with Plains All American Pipeline by forming Midway Pipeline. The joint venture has acquired a ~100-mile pipeline system from Cushing to Broome, which will benefit CVRR’s Coffeyville, Kansas refinery. On the same day, CVRR also announced its 3Q17 earnings. CVR Refining reported adjusted EPS of $0.47, missing the Wall Street analyst EPS estimates of $0.53.

Other notable gainers in the refining and marketing group are PBF Energy (PBF), Delek US Holdings (DK), and Marathon Petroleum (MPC). These stocks are up by 2.5%, 2.2%, and 1.7%, respectively.

Yesterday, Delek US Holdings (DK) announced the acquisition of the remaining 18.4% of outstanding units of Alon USA Partners. Delek’s chair, president, and CEO, Uzi Yemin, said, “This was one of our strategic initiatives following the acquisition of Alon USA on July 1, 2017. It should allow us to simplify our corporate structure, reduce public company costs, reallocate cash flow from distributions to growth investments and enable us to efficiently dropdown logistics assets to Delek Logistics Partners in the future.”

This week, the VanEck Vectors Oil Refiners ETF (CRAK) is up by 0.42% due to a rise in gasoline prices. In comparison, the SPDR Dow Jones Industrial Average ETF (DIA) is higher by 0.12% in the current week.


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