Tesoro volatility flat as shares pull back from five-year high Tesoro March call option implied volatility is at 42, April and May is at 39; compared to its 26-week average of 40 according to Track Data, suggesting non-directional price movement.
Oppenheimer upgrades refiners on favorable fundamentals Oppenheimer upgraded to Outperform from Perform shares of HollyFrontier (HFC), Marathon Petroleum (MPC), Phillips 66 (PSX) and Tesoro (TSO) saying favorable industry fundamentals will continue to support higher valuations. Wide crude differential, low natural gas prices, growing refined product exports and improved petroleum demand should drive shares of refiners higher, Opco tells investors in a research note. The firm also raised its price target for Outperform rated Valero (VLO) to $70 from $65.
Tesoro upgraded to Outperform from Perform at Oppenheimer Oppenheimer upgraded Tesoro and other names in the Refining space saying favorable industry fundamentals will support higher valuations. The firm has a $105 price target for shares.