Cramer Says Sell Refiners (TSO, VLO, SUN, CVI, CLMT, IOC)
After a torrid run for oil refiners since September, Jim Cramer recommended selling the stocks on last night’s episode of “Mad Money” and that may be having an impact on the group today as the Oil Refiner Stocks Index is down by 0.3%. Still, the loss is tolerable when looking at a surge of almost 40% in the past six months for the Index.
Cramer noted that shares of Tesoro (TSO) and Valero Energy (VLO) have had stellar runs since September, but they face challenges as oil prices rise. Rising oil prices can force a change in driving habits in the U.S. as drivers look for ways to pinch pennies, crimping demand for refined fuel products. Shares of Tesoro and Valero are both down fractionally.
Cramer did say the only refiner he would buy is Sunoco (SUN), noting the company’s growth is not done. Shares of Sunoco are up 1% today. CVR Energy (CVI) and Calumet Specialty Products (CLMT) are the Index’s best performers today with sjump of 2%.
InterOil Corporation (IOC) is the worst performer with a loss of 2%.
Investors can track the Oil Refiner Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
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