Barclays PLC restated their overweight rating on shares of Tesoro Corp. (NYSE:TSO) in a report published on Monday. They currently have a $105.00 price target on the stock, up from their previous price target of $100.00.
Several other research firms have also commented on TSO. Credit Suisse Group AG lowered shares of Tesoro Corp. from an outperform rating to a neutral rating and reduced their target price for the company from $100.00 to $90.00 in a report on Wednesday, June 15th. Bank of America Corp. reaffirmed a buy rating and set a $109.00 target price (up previously from $95.00) on shares of Tesoro Corp. in a report on Monday, September 26th. Simmons reaffirmed an overweight rating and set a $82.00 target price (up previously from $78.00) on shares of Tesoro Corp. in a report on Monday, August 8th. Howard Weil raised shares of Tesoro Corp. from a sector perform rating to a sector outperform rating and reduced their target price for the company from $105.00 to $93.00 in a report on Monday, July 11th. Finally, Zacks Investment Research lowered shares of Tesoro Corp. from a hold rating to a sell rating in a report on Friday, August 26th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $101.63.
Tesoro Corp. (NYSE:TSO) opened at 80.74 on Monday. The firm has a market cap of $9.65 billion, a price-to-earnings ratio of 7.56 and a beta of 2.03. The stock’s 50 day moving average is $79.51 and its 200-day moving average is $78.62. Tesoro Corp. has a one year low of $67.80 and a one year high of $119.67.
Tesoro Corp. (NYSE:TSO) last released its earnings results on Wednesday, August 3rd. The company reported $3.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $1.70. Tesoro Corp. had a net margin of 5.12% and a return on equity of 20.15%. The company had revenue of $6.29 billion for the quarter, compared to analyst estimates of $5.87 billion. During the same quarter last year, the firm earned $4.59 EPS. The firm’s quarterly revenue was down 23.7% compared to the same quarter last year. On average, equities research analysts expect that Tesoro Corp. will post $5.47 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Monday, August 29th. This is an increase from Tesoro Corp.’s previous quarterly dividend of $0.50. Tesoro Corp.’s dividend payout ratio is currently 20.72%.
In other news, CFO Steven Sterin bought 1,100 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were purchased at an average price of $73.93 per share, for a total transaction of $81,323.00. Following the completion of the purchase, the chief financial officer now owns 8,152 shares in the company, valued at approximately $602,677.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.88% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Hancock Holding Co. increased its position in shares of Tesoro Corp. by 0.6% in the first quarter. Hancock Holding Co. now owns 24,296 shares of the company’s stock valued at $2,090,000 after buying an additional 155 shares in the last quarter. National Pension Service increased its position in shares of Tesoro Corp. by 4.9% in the first quarter. National Pension Service now owns 86,184 shares of the company’s stock valued at $7,413,000 after buying an additional 4,000 shares in the last quarter. First Republic Investment Management Inc. increased its position in shares of Tesoro Corp. by 136.7% in the first quarter. First Republic Investment Management Inc. now owns 7,779 shares of the company’s stock valued at $669,000 after buying an additional 4,493 shares in the last quarter. Boston Advisors LLC increased its position in shares of Tesoro Corp. by 2.2% in the second quarter. Boston Advisors LLC now owns 272,616 shares of the company’s stock valued at $20,424,000 after buying an additional 5,971 shares in the last quarter. Finally, Springbok Capital Management LLC increased its position in shares of Tesoro Corp. by 4.7% in the first quarter. Springbok Capital Management LLC now owns 4,887 shares of the company’s stock valued at $420,000 after buying an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 88.41% of the company’s stock.
About Tesoro Corp.
Tesoro Corporation (Tesoro) is an independent petroleum refining and marketing company. The Company operates through three business segments: Refining operating segment (Refining), which owns and operates refineries, and refines crude oil and other feedstocks into transportation fuels; TLLP, a publicly traded limited partnership, which includes certain crude oil and natural gas gathering assets, natural gas processing and crude oil and refined products terminaling, and transportation and storage assets, and marketing segment (Marketing), which sells transportation fuels.
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