Tesoro Corp. (NYSE:TSO) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a note issued to investors on Wednesday.
Several other equities analysts have also recently weighed in on the stock. Jefferies Group initiated coverage on shares of Tesoro Corp. in a research report on Tuesday, August 23rd. They issued a “buy” rating and a $101.00 price target on the stock. Piper Jaffray Cos. raised their price target on shares of Tesoro Corp. from $82.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, September 16th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Tesoro Corp. in a research report on Sunday, July 10th. Cowen and Company reaffirmed a “buy” rating on shares of Tesoro Corp. in a research report on Wednesday, June 1st. Finally, Zacks Investment Research raised shares of Tesoro Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, September 22nd. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Tesoro Corp. has an average rating of “Buy” and an average target price of $100.69.
Tesoro Corp. (NYSE:TSO) opened at 82.89 on Wednesday. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of 7.76 and a beta of 2.10. Tesoro Corp. has a 12-month low of $67.80 and a 12-month high of $119.67. The firm’s 50-day moving average price is $78.04 and its 200 day moving average price is $79.16.
Tesoro Corp. (NYSE:TSO) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $3.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.77 by $1.70. The company had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $5.87 billion. Tesoro Corp. had a net margin of 5.12% and a return on equity of 20.15%. The business’s revenue was down 23.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.59 EPS. On average, analysts expect that Tesoro Corp. will post $5.55 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.65%. This is an increase from Tesoro Corp.’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, August 29th. Tesoro Corp.’s dividend payout ratio (DPR) is presently 20.72%.
In other news, CFO Steven Sterin purchased 1,100 shares of the business’s stock in a transaction on Friday, August 26th. The stock was purchased at an average cost of $73.93 per share, with a total value 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 the SEC website. 0.88% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. PGGM Investments increased its position in shares of Tesoro Corp. by 2.5% in the first quarter. PGGM Investments now owns 79,296 shares of the company’s stock valued at $6,820,000 after buying an additional 1,920 shares during the last quarter. Glenmede Trust Co. NA increased its position in shares of Tesoro Corp. by 13.2% in the first quarter. Glenmede Trust Co. NA now owns 129,479 shares of the company’s stock valued at $11,135,000 after buying an additional 15,090 shares during the last quarter. Commonwealth Equity Services Inc increased its position in shares of Tesoro Corp. by 12.7% in the first quarter. Commonwealth Equity Services Inc now owns 3,779 shares of the company’s stock valued at $325,000 after buying an additional 425 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Tesoro Corp. by 7.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 551,561 shares of the company’s stock valued at $47,440,000 after buying an additional 36,013 shares during the last quarter. Finally, Ngam Advisors L.P. increased its position in shares of Tesoro Corp. by 53.7% in the first quarter. Ngam Advisors L.P. now owns 19,558 shares of the company’s stock valued at $1,682,000 after buying an additional 6,837 shares during the last quarter. 88.41% of the stock is owned by hedge funds and other institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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