Refining and marketing gainers
In this part of the series, we’ll look at the top percentage gainers from the refining and marketing sector in the United States for the week starting November 20, 2017. To compile the list of top refining and marketing movers, we’ve selected refining and marketing companies with market capitalizations of more than $100 million and average trading volumes greater than 100,000 shares as of the week beginning November 13, 2017.
Delek US Holdings: The top gainer
In the week starting November 20, 2017, Delek US Holdings (DK) was leading the list of gainers in the refining and marketing group. It rose from the previous week’s close of $29.56 to $32 on November 22, 2017, an increase of more than 8%.
Delek US Holdings rose significantly on the first three days of last week. There was no press release from the company. Delek’s strong uptrend started in mid-August 2017, rising more than 55% since August 17, 2017. The uptrend caused DK stock to cross above its 50-day and 200-day moving averages in August and September 2017, respectively. As of November 22, Delek was trading at $32, whereas its 50-day and 200-day moving averages were $26.76 and $24.84, respectively.
Other refining and marketing stocks that gained last week
Delek US Holdings is followed by Par Pacific Holdings (PARR), which rose 4.1% last week. On Tuesday, November 21, 2017, PARR crossed above its 50-day moving average, which it had lost in the post-earnings decline in the second week of November. In 3Q17, PARR reported revenues of ~$610 million, which were much lower than the Wall Street analyst consensus of ~$623 million. However, PARR beat the EPS (earnings per share) estimates by $0.04 in 3Q17. It reported an adjusted profit of $0.55 per share, whereas the Wall Street analyst consensus was for a profit of $0.49 per share.
Other notable gainers in the refining and marketing group are World Fuel Services (INT), CVR Refining (CVRR), and PBF Energy (PBF). INT, CVRR, and PBF have risen 2.7%, 2%, and 1.9% at the mid-point of last week. PBF Energy was also on a strong uptrend and hit a 52-week high of $33.75 on November 22. For the last three months, PBF has been trending above its 50-day and 200-day moving averages, which is a very strong technical sign.
In general, as of the middle of last week, the VanEck Vectors Oil Refiners ETF (CRAK) rose 1.7% due to rising gasoline prices. To know more about how gasoline prices were performing last week, refer to Part 1 of this series.
In comparison, the SPDR Dow Jones Industrial Average ETF (DIA) rose 0.76% at the mid-point of last week.