Oil and gas refining and marketing stocks
We will now look at the top weekly movers from the refining and marketing sector in the US for the week ending September 8, 2017. We have selected refining and marketing companies with market capitalizations of greater than $100 million and weekly average volumes greater than 100,000 shares.
PBF Energy rose the most last week
In the week ending September 8, 2017, PBF Energy (PBF) topped the list of gainers from the oil and gas refining and marketing group. PBF rose from $24.79 to $25.46, an increase of almost 3%. There wasn’t any specific news that moved PBF Energy, but PBF rose sharply in the last three days of the week, which helped it to close the week on a very strong note. In fact, PBF stock has been in a strong uptrend since August 24 and has increased by almost 28% since then. PBF stock is up 22% and 18% in the last three months and six months, respectively.
PBF Energy was followed by Green Plains (GPRE), which saw an increase of 2.2% in the last week. Currently, GPRE is facing resistance from its 50-day moving average, which stands at $18.72.
Marathon Petroleum was biggest loser
Marathon Petroleum (MPC) was the biggest loser last week from the refining and marketing sector. It fell from $54.28 to $53.42, or by 1.6%. The weekly decline in MPC took place despite an announcement on September 5 that it would enhance shareholder value by means of share repurchase and dividends. In 1H17, MPC returned $1.6 billion to its shareholders by means of share repurchases and dividends and plans to repurchase additional shares worth $1 billion in 2H17.
The other refining and marketing laggard last week was REX American Resources (REX), which fell less than a percentage point. On September 8, 2017, REX closed at $85.51 and is trading not too far from its 52-week low of $76.10.
In general, for the week ending September 8, the VanEck Vectors Oil Refiners ETF (CRAK) closed marginally down by 0.19% despite a big fall in gasoline prices. In comparison, the SPDR S&P 500 ETF (SPY) fell half a percentage point last week.
To know more about how gasoline prices performed last week, refer to part one of this series. To read more about the energy sector, read our series, Crude Oil: How It Influences Your Energy Investments.