9 Oil Refining Stocks to Watch
The nine refiners I am profiling today performed tremendously over the last 12 months with gains between 49.4% and 164.1%, which makes it difficult to sustain these gains for another 12 months even though they have 12 month trailing price-to-earnings ratios in single-digit territory between 5.4 and 9.5. Eight of nine stocks are above their 200-day simple moving averages which represents the risk of a reversion to the mean. In my opinion these energy stocks qualify for my buy-and-trade strategy. Be aware that there are some negative divergences in the weekly chart profiles.
Reading the Table
OV/UN Valued: Stocks with a red number are undervalued by this percentage. Those with a black number are overvalued by that percentage according to ValuEngine.
VE Rating: A "1-engine" rating is a strong sell, a "2-engine" rating is a sell, a "3-engine" rating is a hold, a "4-engine" rating is a buy and a "5-engine" rating is a strong buy.
Last 12-Month Return (%): Stocks with a red number declined by that percentage over the last 12 months. Stocks with a black number increased by that percentage.
Forecast 1-Year Return: Stocks with a red number are projected to decline by that percentage over the next 12 months. Stocks with a black number in the table are projected to move higher by that percentage over the next 12 months.
Value Level: Price at which to enter a GTC limit order to buy on weakness. The letters mean; W-weekly, M-monthly, Q-quarterly, S-semiannual and A-annual.
Pivot: A level between a value level and risky level that should be a magnet during the time frame noted.
Risky Level: Price at which to enter a GTC limit order to sell on strength.