Tesoro Corp. (NYSE:TSO)‘s stock had its “buy” rating restated by research analysts at Bank of America Corp. in a report issued on Monday.
Several other brokerages also recently weighed in on TSO. Jefferies Group began coverage on Tesoro Corp. in a report on Tuesday, August 23rd. They set a “buy” rating and a $101.00 price target for the company. Piper Jaffray Cos. increased their price target on Tesoro Corp. from $82.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, September 16th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Tesoro Corp. in a report on Sunday, July 10th. Cowen and Company reaffirmed a “buy” rating on shares of Tesoro Corp. in a report on Wednesday, June 1st. Finally, Zacks Investment Research raised Tesoro Corp. from a “sell” rating to a “hold” rating in a report on Thursday. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $101.13.
Shares of Tesoro Corp. (NYSE:TSO) traded down 1.75% during midday trading on Monday, reaching $82.15. 1,274,101 shares of the company’s stock traded hands. Tesoro Corp. has a 52 week low of $67.80 and a 52 week high of $119.67. The stock’s 50 day moving average is $77.68 and its 200-day moving average is $79.33. The company has a market capitalization of $9.82 billion, a PE ratio of 7.69 and a beta of 2.10.
Tesoro Corp. (NYSE:TSO) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $3.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $1.70. The business earned $6.29 billion during the quarter, compared to the consensus estimate of $5.87 billion. Tesoro Corp. had a return on equity of 20.15% and a net margin of 5.12%. The company’s revenue was down 23.7% compared to the same quarter last year. During the same period in the prior year, the company earned $4.59 earnings per share. On average, analysts forecast that Tesoro Corp. will post $5.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.63%. This is a positive change from Tesoro Corp.’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, August 29th. Tesoro Corp.’s dividend payout ratio (DPR) is presently 20.72%.
In other Tesoro Corp. news, CFO Steven Sterin purchased 1,100 shares of the firm’s stock in a transaction on Friday, August 26th. The shares were purchased at an average cost of $73.93 per share, with a total value of $81,323.00. Following the purchase, the chief financial officer now owns 8,152 shares in the company, valued at $602,677.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.88% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of TSO. Acrospire Investment Management LLC acquired a new stake in shares of Tesoro Corp. during the first quarter worth about $103,000. Zions Bancorporation raised 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. Signaturefd LLC raised its stake in shares of Tesoro Corp. by 1.4% in the second quarter. Signaturefd LLC now owns 1,351 shares of the company’s stock worth $101,000 after buying an additional 18 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. raised 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. 88.41% of the stock is currently owned by hedge funds and other institutional investors.
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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