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Who’s Falling behind in Refining and Marketing This Week?

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PBF Energy and Delek US Holdings: refining and marketing laggards

PBF Energy (PBF) has been the biggest loser so far this week (starting October 2, 2017) in our select group of refining and marketing energy stocks, having fallen from last week’s close of $27.61 to $27.08 on October 4, or by ~1.9%.

For this analysis, we’ve selected refining and marketing companies with market capitalizations of greater than $100 million and weekly average volumes greater than 100,000 shares.

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While there’s no specific news on PBF stock this week, the stock has been seeing a strong uptrend since August 24 and has risen ~36% since then, and so this week’s move PBF appears to be a correction in its upward movement. The stock has a strong support at its 50-day moving at $23.65 and has now risen 1% since the start of 2017.

Other refining and marketing laggards this week include Delek US Holdings (DK), which has fallen 0.45%. DK stock had been riding a strong uptrend since August 18 and has increased by ~28% overall since then.

While the declines in PBF and DK are not substantial, they are underperforming the PowerShares Dynamic Energy Exploration & Production Portfolio (PXE), which has stayed almost flat this week. PXE’s top holdings include refining names like Valero Energy (VLE), Phillips 66 (PSX), and Marathon Petroleum (MPC).

Notably, the SPDR S&P 500 ETF (SPY) has risen 0.77% so far this week.

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