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Aug 13, 2023

Stellar Performance: Oil Refining/Marketing Stocks ($VLO, $CVI, $CVX, $DK, $MPC) Surge by +11.44%

The Oil Refining/Marketing sector has experienced a significant increase of +11.44% in its performance over the past month.
Tickers in Group Oil Refining/Marketing - $VLO$CVI$CVX, $DK$MPC.
Swing Trader, Long Only: Growth Model (Diversified) -  Annualized Return +13%
Swing Trader, Long Only: Valuation & Efficiency Model (TA&FA)
 -  Annualized Return +29%

The Oil Refining/Marketing sector, encompassing companies engaged in the transformation of crude oil into various petroleum products, exhibited an impressive growth of +11.44% in the last month. This segment represents a vital part of the downstream operations in the oil industry, encompassing refining, marketing, and distribution. With a Positive Outlook driven by a robust set of indicators, this article delves into the theme, notable companies, market capitalization, price movements, and key momentum indicators within this sector.

Theme Description

The Oil Refining/Marketing sector is involved in the processing of crude oil to produce a range of essential products, including gasoline, jet fuel, and diesel. These products are subsequently marketed and sold to consumers. This downstream business segment can often withstand or even benefit from falling oil prices due to reduced purchase costs of crude oil. Noteworthy players in this arena include Exxon Mobil Corp (NYSE:XOM), Chevron Corp (NYSE:CVX), BP plc (NYSE:BP), MARATHON PETROLEUM Corp (NYSE:MPC), Phillips 66 (NYSE:PSX), Valero Energy Corp (NYSE:VLO), and Targa Resources Corp (NYSE:TRGP).

Group of Tickers

  • Exxon Mobil Corp (XOM)
  • Chevron Corp (CVX)
  • BP plc (BP)
  • MARATHON PETROLEUM Corp (MPC)
  • Phillips 66 (PSX)
  • Valero Energy Corp (VLO)
  • Targa Resources Corp (TRGP)

Market Capitalization

The average market capitalization of companies within the Oil Refining/Marketing theme stands at $82.2 billion. The group's market capitalization ranges from $232.6 million to $447.7 billion, with Exxon Mobil Corp (XOM) holding the highest valuation and Targa Resources Corp (TRGP) being the lowest.

Price Movements

The Oil Refining/Marketing sector displayed remarkable price growth dynamics. Weekly price growth averaged at 4.06%, while the monthly and quarterly averages reached impressive levels of 11.44% and 10.79%, respectively. Among notable developments, PBF experienced a substantial price growth of 10.17%, while NS witnessed a decline of -8.56%.

Volume Trends

Although weekly volume growth for the sector averaged -10.49%, the monthly average stood at -6.08%, and the quarterly average recorded a more significant decline at -39.83%.

Key Momentum Indicators

  1. CVX's Positive Momentum Indicator Signals Upward Trend: Chevron (CVX) recently exhibited a positive shift in its Momentum Indicator, crossing above the 0 level on August 10, 2023. Historically, such instances often preceded upward movements, with odds of success at 68%. CVX's price dynamics show support levels between $158.39 and $200.73, with recent uptrend growth recorded at +3% during the last month and +3% for the week.

  2. CVI Sustains Uptrend Momentum: CVI demonstrated a +4.11% uptrend over three consecutive days on July 31, 2023, indicating a bullish trajectory. This pattern has shown an 80% chance of sustained upward movement in similar instances. CVI's price evolution indicates support and resistance lines at $26.62 and $38.80, respectively. Over the last month and week, the stock enjoyed an uptrend growth of +22% and +5%.

  3. VLO's MACD Histogram Turns Positive: Valero Energy Corp (VLO) experienced a positive crossover of its Moving Average Convergence Divergence (MACD) Histogram on July 19, 2023. In the past, this pattern has often resulted in continued upward movements, with an 84% success rate. VLO's support and resistance levels are $135.44 and $157.76, respectively. Over the last month, the stock's uptrend growth reached +22%, with a weekly growth of +10%.

Summary

The Oil Refining/Marketing sector has demonstrated impressive growth and positive momentum, driven by several key indicators. Notable companies within the theme, such as Chevron (CVX) and Valero Energy Corp (VLO), are positioned to benefit from this upward momentum. Investors should closely monitor these stocks as they exhibit potential for further growth in the coming weeks and months.

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