Hess Corporation volatility expected to move on sale of retail business Hess Corporation (HES) option volatility is expected to move after agreeing to sell its retail business to Marathon Petroleum (MPC) for a total cash consideration of $2.6B. Overall option implied volatility of 17 is below its 26-week average of 22 according to Track Data, suggesting decreasing price movement.
Hess Corp. elevated as WTI oil rally's 8% to $48 Hess Corp. current 30-day call option implied volatility is at 41, compared to a one-month ago level of 31, suggesting large price movement as WTI crude oil trades above $48.
Marathon Petroleum upgraded to Overweight from Neutral at JPMorgan JPMorgan upgraded Marathon Petroleum to Overweight with a $61 price target. The firm believes Marathon's valuation is too attractive to ignore and the weaker Q2 capture rate was transitory and risks are reflected in shares.