Refining and marketing losers
We’ll now 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 losers, we have selected refining and marketing energy companies with market capitalizations of greater than $100 million and a weekly average volume greater than 100,000 shares.
World Fuel Services was the top loser
World Fuel Services (INT) is the biggest loser in the current week from the refining and marketing sector. It decreased from last week’s close of $28.98 to $28.39 on January 17, or by ~2.0%.
World Fuel Services didn’t make any news releases this week. In the first week of January 2018, INT crossed its 50-day moving average. After trending down for most of 2017, INT has risen since November 16, 2017, and has gained ~8% since then. In 2017, INT fell ~38%.
As of January 3, INT is trading at $28.39, whereas its 50-day and 200-day moving averages stand at $27.78 and $33.70, respectively.
These stocks are underperforming the PowerShares Dynamic Energy Exploration & Production Portfolio (PXE), which is down marginally by ~0.2% 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 ~0.6% in the current week.