Citigroup Downgrades Refiners
Tesoro, Valero and Sunoco all fall.
Citigroup cut its ratings on three petroleum refiners, giving two of them sell ratings, and putting pressure on all of the shares.
The firm downgraded both
Tesoro
(TSO)
and
Valero
(VLO) - Get Report
to to sell from hold, and
Sunoco
(SUN) - Get Report
was lowered to hold from buy.
After the move, Tesoro was down 4.8% at $55.16. Valero was losing 3.6% to $71.97, and Sunoco was dropping 2.7% to $78.20.
