Refining and marketing losses
In this series on the biggest movers in the energy sector this week, we’ll look now at the stocks with the biggest losses in the US refining and marketing sector. To compile the list, 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.
World Fuel Services: The only decliner
World Fuel Services (INT) is the only declining stock this week from the refining and marketing sector. It decreased marginally from last week’s close of $22.64 to $22.35 on May 17, by ~1.3%. In the last week of April, INT fell below its 50-day moving average. As of May 17, INT was trading at $22.35, whereas its 50-day and 200-day moving averages stood at $24.22 and $28.62.
The PowerShares Dynamic Energy Exploration & Production Portfolio (PXE) is up strongly by ~5.0% this week. PXE’s top holdings include refining names like Valero Energy (VLO), Phillips 66 (PSX), and Marathon Petroleum (MPC).
Next, we’ll take a look at the gainers from the integrated energy sector.