Tesoro Corp. (NYSE:TSO) was upgraded by equities research analysts at Credit Suisse Group AG from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $100.00 target price on the stock, up from their prior target price of $85.00. Credit Suisse Group AG’s price target indicates a potential upside of 23.85% from the company’s current price.
Several other equities analysts also recently weighed in on the stock. Simmons reiterated an “overweight” rating and issued a $82.00 price target (up previously from $78.00) on shares of Tesoro Corp. in a report on Monday, August 8th. Wells Fargo & Co. reiterated a “hold” rating on shares of Tesoro Corp. in a report on Sunday, July 10th. Barclays PLC reaffirmed an “overweight” rating and set a $105.00 price objective on shares of Tesoro Corp. in a research note on Tuesday, August 2nd. Zacks Investment Research raised shares of Tesoro Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, September 22nd. Finally, Wolfe Research raised shares of Tesoro Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, June 20th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Tesoro Corp. has an average rating of “Buy” and a consensus price target of $101.63.
Tesoro Corp. (NYSE:TSO) opened at 80.74 on Tuesday. The stock has a market cap of $9.65 billion, a P/E ratio of 7.56 and a beta of 2.03. Tesoro Corp. has a 12-month low of $67.80 and a 12-month high of $119.67. The company has a 50 day moving average of $79.51 and a 200-day moving average of $78.62.
Tesoro Corp. (NYSE:TSO) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $3.47 earnings per share for the quarter, topping 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 the consensus estimate of $5.87 billion. During the same quarter in the prior year, the company earned $4.59 EPS. Tesoro Corp.’s quarterly revenue was down 23.7% on a year-over-year basis. Equities analysts forecast that Tesoro Corp. will post $5.47 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Monday, August 29th. This is a positive change from Tesoro Corp.’s previous quarterly dividend of $0.50. Tesoro Corp.’s payout ratio is currently 20.72%.
In related news, CFO Steven Sterin purchased 1,100 shares of Tesoro Corp. stock in a transaction dated Friday, August 26th. The shares were acquired at an average price of $73.93 per share, for a total transaction of $81,323.00. Following the acquisition, the chief financial officer now directly owns 8,152 shares in the company, valued at $602,677.36. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.88% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC raised its position in Tesoro Corp. by 1.4% in the second quarter. Signaturefd LLC now owns 1,351 shares of the company’s stock valued at $101,000 after buying an additional 18 shares in the last quarter. Acrospire Investment Management LLC acquired a new stake in shares of Tesoro Corp. during the first quarter worth about $103,000. Zions Bancorporation increased its stake in shares of Tesoro Corp. by 2,912.2% in the first quarter. Zions Bancorporation now owns 1,235 shares of the company’s stock worth $106,000 after buying an additional 1,194 shares during the last quarter. Advisor Group Inc. acquired a new stake in shares of Tesoro Corp. during the second quarter worth about $118,000. Finally, Daiwa SB Investments Ltd. increased its stake in shares of Tesoro Corp. by 8.0% in the second quarter. Daiwa SB Investments Ltd. now owns 1,620 shares of the company’s stock worth $122,000 after buying an additional 120 shares during the last quarter. Institutional investors and hedge funds own 88.41% of the company’s stock.
Tesoro Corp. Company Profile
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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