The Oil Refining sector has experienced a significant increase of +12.24% in its performance over the past month.
Tickers in sector - $HEP, $TRGP, $PSX, $PBF, $UGP, $NS, $CVI, $XOM, $CVX, $MPC, $VLO.
Trend Trader, Long Only: Valuation & Hurst Model (TA&FA) - Annualized Return +15%
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The Oil Refining/Marketing segment has experienced a remarkable surge of +12.24%, indicating a strong positive momentum in the market. This surge is underpinned by a range of indicators and metrics that suggest a favorable outlook for stocks within this sector. In this article, we delve into the important factors driving this surge and highlight key themes and notable tickers within the Oil Refining/Marketing segment.
Positive Outlook Supported by 15 Indicators
The Oil Refining/Marketing stocks are currently enjoying a positive outlook, as indicated by the 15 Indicator Stock Fear & Greed Index. This sentiment is further affirmed by Tickeron's positive outlook for this group, predicting a potential increase of over 4.00% within the next month with a likelihood of 73%. Moreover, the ratio of advancing to declining volumes over the last month was a strong 1.97 to 1, reflecting strong market interest in these stocks.
Momentum Indicator Reinforces Positivity
Six stocks within the Oil Refining/Marketing segment exhibit a similar positive trend according to the Momentum indicator, with an average likelihood of 73%. This alignment in momentum signals suggests a collective strength in the upward movement of these stocks.
The most notable companies within the Oil Refining/Marketing group 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). These companies are pivotal in refining crude oil into various petroleum products and are significant players in the downstream operations of the oil business.
The Oil Refining/Marketing segment encompasses companies engaged in refining crude oil into various petroleum products and marketing these products to end-users. These businesses are positioned within the downstream operations of the oil industry, focusing on post-production processes. Notably, during periods of low oil prices, downstream businesses are relatively less affected or may even benefit, as their procurement costs for crude oil decrease. Some of the leading U.S. oil refining/marketing companies include Phillips 66, Marathon Petroleum Corporation, and Valero Energy Corp.
Market Capitalization Insights
The average market capitalization across the Oil Refining/Marketing Theme is $82.2 billion. Within this group, market caps range from $232.6 million to $447.7 billion. Exxon Mobil (XOM) boasts the highest valuation within this segment at $447.7 billion, while Targa Resources Corp (TREC) holds the lowest valuation at $232.6 million.
Price Growth Highlights
Across all stocks in the Oil Refining/Marketing Theme, the average weekly price growth is 2.19%. The monthly and quarterly average price growth rates are notably higher at 12.24% and 10.51%, respectively. The highest weekly price growth was experienced by HEP at 8.73%, while NS saw a decline of -10.18%.
Notable Price Movements
The average weekly volume growth for stocks within the Oil Refining/Marketing Theme stood at -10.49%. Over a monthly period, the average volume growth rate was -6.08%, while the average quarterly volume growth reached -39.83%.
Momentum Indicator Insights
Exxon Mobil (XOM): The Momentum Indicator turned positive on August 10, 2023, signaling a potential new upward trend. Historical analysis indicates a 68% chance of a higher move following this indicator shift.
CVI Positive Uptrend: CVI exhibited a +4.11% uptrend, growing for three consecutive days on July 31, 2023. This upward movement has an 80% likelihood of continuing.
HEP's Bullish Moving Averages: HEP's 50-day moving average crossed bullishly above its 200-day moving average on July 11, 2023, suggesting a positive long-term signal for the stock's upward trajectory.
The surge of +12.24% in the Oil Refining/Marketing segment is driven by robust indicators and positive momentum across various stocks within the theme. The positive outlook, reinforced by the Momentum indicator and Tickeron's predictions, suggests a potential for continued growth. Notable companies like Exxon Mobil, Chevron, and BP are playing key roles in this segment's positive movement. Investors should closely monitor these trends for potential opportunities in the dynamic Oil Refining/Marketing sector.
XOM broke above its upper Bollinger Band on September 01, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options. The A.I.dvisor looked at 41 similar instances where the stock broke above the upper band. In of the 41 cases the stock fell afterwards. This puts the odds of success at .
The 10-day RSI Indicator for XOM moved out of overbought territory on September 15, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 40 similar instances where the indicator moved out of overbought territory. In of the 40 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 67 cases where XOM's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where XOM declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Momentum Indicator moved above the 0 level on August 29, 2023. You may want to consider a long position or call options on XOM as a result. In of 94 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for XOM just turned positive on August 30, 2023. Looking at past instances where XOM's MACD turned positive, the stock continued to rise in of 42 cases over the following month. The odds of a continued upward trend are .
The 50-day moving average for XOM moved above the 200-day moving average on September 14, 2023. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where XOM advanced for three days, in of 333 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 255 cases where XOM Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. XOM’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 78, placing this stock better than average.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: XOM's P/B Ratio (2.331) is slightly higher than the industry average of (1.121). P/E Ratio (9.311) is within average values for comparable stocks, (17.108). Projected Growth (PEG Ratio) (1.768) is also within normal values, averaging (4.065). Dividend Yield (0.031) settles around the average of (0.101) among similar stocks. P/S Ratio (1.340) is also within normal values, averaging (1.245).
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a distributer of crude oil, natural gas and petroleum products
A.I.dvisor indicates that over the last year, XOM has been closely correlated with CVX. These tickers have moved in lockstep 88% of the time. This A.I.-generated data suggests there is a high statistical probability that if XOM jumps, then CVX could also see price increases.