3 Oil Stocks Surging Higher Today
Shares of offshore drilling specialist Transocean (NYSE: RIG), midstream operator Targa Resources (NYSE: TRGP), and oil and gas producer Ovintiv (NYSE: OVV) spent a large part of trading on May 12 up more than 10%. Transocean shares finished trading up 13.5%, while Targa and Ovintiv shares closed up around 8%. The last big news for any of the three came last week, when Targa Resources reported on May 7, reporting solid results and a big increase in adjusted EBITDA, helping reassure investors after having gutted its dividend earlier this year.