Refiners next movers?
Hope they do. Got some shares I'd like to move.
Looks like it to me, just doubled down on TSO at 16$. Also in CLMT. I see these much like the airlines as a direct inverse oil play.
That's why I love cycles. Oil will (and has already, of course) drop, increasing demand for refined products and lowering input costs. You don't get much more of a sure thing than this, IMHO.
Has there been any dilution in either TSO or VLO? I can remember when both of these were $70 stocks. I think VLO split from close to $200/share but why has it only dropped 50 versus TSO getting shallacked by the street? Is there something deeper other than oil's unwarranted, meteoric rise that has TSO down considerably more than VLO? If not, TSO looks like a great buy at these levels.
PBR, hit another mother load of sweet crude. They have more oil than Saudi Arabia...