Friday, October 22, 2010

Tesoro (NYSE:TSO) Patterson-UTI (Nasdaq:PTEN) ECA Marcellus Trust (NYSE:ECT) Rated by RBC Capital

RBC Capital said it has made some changes on some of its ratings on oil and gas stocks, including Tesoro Corp. (NYSE:TSO), Patterson-UTI Energy (Nasdaq:PTEN) and ECA Marcellus Trust (NYSE:ECT).

Patterson-UTI Energy (Nasdaq:PTEN) was upgraded from "Sector Perform" to "Outperform," with their price target raised from $23 to $27. Patterson closed at $19.44, dropping $0.11, or 0.56 percent.

Tesoro Corp. was downgraded from "Outperform" to "Sector Perform," with a price target on them of $15 a share. Tesoro closed Thursday at $13.14, losing $0.78, or 5.60 percent.

RBC initiated coverage on ECA Marcellus Trust with an "Outperform" rating, and a price target of $25. ECA ended Thursday's trading session at $23.34, falling $0.22, or 0.93 percent.

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