Morgan Stanley Rating Changes Present Possible Pair Trade

In a note released early Monday morning, Morgan Stanley published a note in which the firm upgraded shares of Occidental Petroleum OXY while downgrading shares of Chevron CVX.

The rating changes have opened up the opportunity for traders to take advantage of a pair trade, as the stocks have moved in opposite directions since the release of the note. At last check, shares of Occidental Petroleum has risen 1.5 percent, while shares of Chevron have fallen 1.07 percent.