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How Do PSX, DK, and CVRR Compare on 100-Day Moving Averages?

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Phillips 66 trades above its 100-day moving average

Phillips 66 (PSX) was trading 1.5% above its 100-day moving average yesterday. On March 1, 2016, the stock was on par with its 100-day moving average. Since February 29, PSX has risen 7%. PSX is approaching the crucial technical level of $85. Since December 10, when it fell below $85, PSX has not been able to break back above this level. PSX is currently trading 10% below its 52-week high and 21% above its 52-week low.

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The large cap downstream companies in the chart above are trading at an average of 20% below their respective 100-day moving averages. Delek US Holdings (DK) and CVR Refining (CVRR) are trading 31% and 44% below their respective 100-day moving averages. Phillips 66 (PSX) is the only refining stock in the group that traded above its 100-day moving average yesterday.

Wall Street analysts’ consensus estimates

The ten major US (SPY) large cap refiners could return 35% on average over the next 12 months, based on Wall Street analysts’ consensus median estimates. Based on Wall Street analysts’ median estimates, Marathon Petroleum (MPC), Phillips 66, PBF Energy (PBF), and HollyFrontier (HFC) could rise by 63%, 9.2%, 36.2%, and 37%, respectively, from their current levels.

In the next part of the series, we’ll discuss moving averages and analysts’ estimates for large cap midstream companies.

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