Refining and marketing stocks
In this part of our series, we’ll look at the top-percentage gainers from the US refining and marketing sector this week. To compile the list of top refining and marketing gainers, we’ve selected refining and marketing companies with market capitalizations greater than $100 million and average trading volume greater than 100,000 shares last week.
CVR Refining: The top gainer
CVR Refining (CVRR) is leading the list of gainers in the refining and marketing group. CVRR increased from last week’s close of $18.70 to $20.70 on May 17—an increase of almost 11%. CVR Refining increased strongly on all four days so far this week. CVRR has been in a very strong uptrend since March 29, and it increased ~67% since then.
CVR Refining reported its earnings on April 26. In the first quarter, it reported revenues of ~$1.46 billion, better than the Wall Street analyst consensus of ~$1.26 billion. CVRR beat EPS estimates by a wide margin of $0.49. It reported an adjusted profit of $0.59 per share, whereas Wall Street analyst consensus was for profit of $0.10 per share.
Other rising refining and marketing stocks this week
CVR Refining is followed by Delek US Holdings (DK), which saw an increase of ~8.0% this week. On May 7, it reported its earnings after the market closed. In the first quarter, Delek US Holdings reported revenues of ~$2.35 billion, better than the Wall Street analyst consensus of ~$2.1 billion. DK beat EPS estimates by $0.04 in 1Q18. It reported an adjusted loss of $0.09 per share, whereas Wall Street analyst consensus was for a loss of $0.13 per share.
After its earnings, Delek US Holdings increased ~9% in eight days.
Other notable gainers in the refining and marketing group are PBF Energy (PBF), HollyFrontier Corporation (HFC), and Andeavor (ANDV). PBF, HFC, and ANDV are up ~7.5%, ~7.1%, and ~4.7%, respectively, so far this week.
The VanEck Vectors Oil Refiners ETF (CRAK) is up ~1.3% despite the marginal increase in gasoline prices. To learn more about how gasoline prices are performing this week, see Part 1 of this series.