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 $100.0 million and average trading volume greater than 100,000 shares last week.
World Fuel Services: The only gainer
So far in the week ending June 8, World Fuel Services (INT) is the only gaining stock in the refining and marketing group. INT increased from last week’s close of $21.32 to $21.92 on June 6—an increase of almost 3.0%. World Fuel Services rose on the first three days of the week so far. However, there is no stock moving press release from the company this week.
On May 24, World Fuel Services (INT) announced a cash dividend of $0.06 per share on its common stock. This dividend is payable on July 6 to stockholders of record on June 8.
In the last week of April, INT moved below its 50-day moving average. On June 6, INT traded at $21.86. Its 50-day and 200-day moving averages stand at $23.55 and $27.77, respectively. Currently, INT is trading very close to its 52-week low of $20.53 set in February 2018.
So far this week, the VanEck Vectors Oil Refiners ETF (CRAK) is down ~0.5% due to the strong decrease in gasoline prices. PBF Energy (PBF) has declined ~0.2% so far this week and has outperformed CRAK.