Refining and marketing stocks
Continuing with our series of biggest movers in the energy sector, we will now look at the top gaining stocks in the current week from the refining and marketing sector in the US.
To compile the list of top refining and marketing movers, we have selected refining and marketing companies with market capitalizations greater than $100 million and this week’s average volume greater than 100,000 shares.
Par Pacific Holdings: The top gainer
In the week starting September 11, 2017, Par Pacific Holdings (PARR) is leading the list of gainers in the refining and marketing group. PARR rose from last week’s close of $17.93 to $19.43 on September 14—an increase of more than 8%.
Other rising refining and marketing stocks
Par Pacific Holdings is followed by Green Plains Renewable Energy (GPRE), which saw an increase of ~7.5% in the current week. On the technical front, the biggest positive for GPRE stock this week is that it crossed above its 50-day moving average, which it has trying to regain since June 2017.
This move above the 50-day moving average came with a very strong rise in daily trading volume, which is a positive technical sign for the stock.
Other notable gainers in the refining and marketing group are World Fuel Services (INT), Phillips 66 (PSX), and CVR Refining (CVRR). INT, PSX, and CVRR gained ~2.7%, ~1.8%, and 1.7%, respectively, so far this week.
Phillips 66 (PSX) is in a rising trend and is trading close to its 52-week high of $86.87. PSX is also trading above its 50-day and 200-day moving averages, which are strong technical signs.
So far this week, the VanEck Vectors Oil Refiners ETF (CRAK) has risen 0.66% despite a big fall in gasoline prices. To learn more about how gasoline prices are performing this week, please refer to Part 1 of this series.