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PBF, PARR, and MPC: Refining and Marketing Losers This Week

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Refining and marketing losers

Next, in our series of biggest movers in the energy sector, we’ll look at the top losing 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 of greater than $100 million and a weekly average volume above 100,000 shares.

PBF Energy: Refining and marketing laggards

PBF Energy (PBF) is the biggest loser in the current week from the refining and marketing sector. It fell from last week’s close of $33.14 to $31.70 on November 29, or by 4.4%. While there wasn’t any specific news on the stock, PBF Energy fell all three days so far this week. However, this week’s down move in PBF Energy looks like a consolidation in the strong uptrend, which has been in progress since the end of August. Due to this strong uptrend in PBF, it has risen by more than 60% since August 24. This uptrend also caused the PBF’s 50-day moving average to cross above its 200-day moving average in September 2017. This is a very positive technical position for PBF, and its 50-day moving average might act as a support going forward. As of November 29, PBF is trading at $31.70, whereas its 50-day and 200-day moving averages stand at $28.93 and $23.39, respectively.

The other refining and marketing laggards in the current week are Par Pacific Holdings (PARR) and Marathon Petroleum (MPC). PARR and MPC are down modestly by 1.1% and 1.0% this week.

PBF, PARR, and MPC are underperforming the PowerShares Dynamic Energy Exploration & Production Portfolio (PXE), which is up by 0.31% this week. PXE’s top holdings include refining names like Valero Energy (VLO), Phillips 66 (PSX), and Marathon Petroleum (MPC).

In comparison, the SPDR S&P 500 ETF (SPY) is up 0.90% in the current week.

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