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, 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.
Delek US Holdings: The only stock in positive territory
In the week starting June 18 so far, Delek US Holdings (DK) is the only gaining stock from the refining and marketing group. DK increased from last week’s close of $51.58 to $51.64 on June 21—a marginal increase of ~0.1%.
After hitting a lifetime high of $61.57 on June 4, DK retreated strongly but found support just above its rising 50-day moving average. Currently DK is consolidating just above its 50-day moving average. As of June 21, DK is trading at $51.64, whereas its 50-day and 200-day moving averages stand at $50.75 and $36.31.
So far this week, the VanEck Vectors Oil Refiners ETF (CRAK) is down ~2.0% due to a decrease in gasoline (UGA) prices. Par Pacific Holdings (PARR), HollyFrontier (HFC), and Andeavor (ANDV) declined moderately by ~0.2%, ~0.4%, and ~0.7% respectively, so far this week and outperformed CRAK. To learn more about how gasoline prices are performing this week, see Part 1 of this series.