uploads///Energy MWU_ REFINING Gainers

Which Refining and Marketing Energy Stocks Are Rising This Week?

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Refining and marketing stocks

In this part, we’ll look at the top percentage gainers from the refining and marketing sector in the United States for the week starting March 26, 2018. To compile the list, we’ve selected refining and marketing companies with market capitalizations greater than $100 million and last week’s average trading volume greater than 100,000 shares.

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Delek US Holdings leads the list

In the current week, starting March 26, 2018, Delek US Holdings (DK) is leading the list of gainers in the refining and marketing group. DK rose from last week’s close of $38.88 to $40.20 on March 27, an increase of more than 3%. It rose significantly on Monday, March 26. In general, DK is in a strong uptrend after hitting a 2018 low of $29.76 on February 9. It has risen 35% since then.

On March 19, 2018, Delek US Holdings announced that it closed the sale of its membership interests in AltAir Paramount and its idled Paramount refinery along with associated pipelines and storage tanks to Boston-based World Energy. Delek is expected to receive $72 million from the transaction.

While commenting on the divestiture, Delek’s president and CEO, Ezra Uzi Yemin, said, “The Paramount transaction provides additional cash to Delek and should enable us to reduce costs. We continue to evaluate options for our Long Beach and Bakersfield assets. Cash proceeds from this and future transactions could be used in our capital allocation program to return cash to shareholders.”

Other gaining refining and marketing stocks this week

Delek US Holdings is followed by World Fuel Services (INT), which rose 3% this week. On March 1, 2018, World Fuel Services announced a quarterly dividend of $0.06 per share on its common stock. The dividend is payable on April 6, 2018, to stockholders of record as of March 16, 2018.

Other notable gainers in the refining and marketing group are Phillips 66 (PSX), HollyFrontier (HFC), and Marathon Petroleum (MPC), which rose 2.5%, 2.5%, and 2.2%, respectively, so far this week.

The VanEck Vectors Oil Refiners ETF (CRAK) has risen 1.2% despite the decrease in gasoline prices. To know more about gasoline prices this week, refer to Part 1 of this series.

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