Tesoro Corporation (NYSE:TSO)‘s stock had its “overweight” rating reissued by research analysts at Piper Jaffray Companies in a report issued on Thursday, May 25th, Marketbeat Ratings reports.
Several other equities research analysts have also recently weighed in on the company. Credit Suisse Group cut Tesoro Corporation from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $110.00 to $93.00 in a research note on Friday, March 24th. TheStreet cut Tesoro Corporation from a “b” rating to a “c+” rating in a research note on Thursday, May 11th. Citigroup Inc. reaffirmed a “buy” rating and issued a $104.00 price target (down from $109.00) on shares of Tesoro Corporation in a research note on Saturday, April 22nd. J P Morgan Chase & Co raised Tesoro Corporation from a “neutral” rating to an “overweight” rating and set a $99.00 price target on the stock in a research note on Thursday, February 2nd. They noted that the move was a valuation call. Finally, Zacks Investment Research cut Tesoro Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, May 10th. One analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $106.47.
Tesoro Corporation (NYSE:TSO) traded up 0.76% during mid-day trading on Thursday, reaching $92.43. 2,591,117 shares of the company traded hands. The stock has a market capitalization of $10.82 billion, a price-to-earnings ratio of 15.41 and a beta of 1.76. The company’s 50-day moving average is $84.54 and its 200-day moving average is $84.21. Tesoro Corporation has a 12-month low of $69.49 and a 12-month high of $94.32.
Tesoro Corporation (NYSE:TSO) last issued its quarterly earnings results on Monday, May 8th. The oil and gas company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.16. The company had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.46 billion. Tesoro Corporation had a return on equity of 7.89% and a net margin of 2.74%. The firm’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.19 earnings per share. Equities analysts predict that Tesoro Corporation will post $5.09 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Friday, May 19th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $2.20 annualized dividend and a dividend yield of 2.38%. Tesoro Corporation’s dividend payout ratio (DPR) is presently 36.85%.
In other news, CFO Steven Sterin bought 1,150 shares of the stock in a transaction on Thursday, June 1st. The shares were bought at an average price of $83.75 per share, with a total value of $96,312.50. Following the completion of the acquisition, the chief financial officer now owns 9,942 shares in the company, valued at $832,642.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Lilley bought 500 shares of the stock in a transaction on Thursday, June 1st. The stock was purchased at an average cost of $83.16 per share, for a total transaction of $41,580.00. Following the acquisition, the director now owns 15,134 shares of the company’s stock, valued at approximately $1,258,543.44. The disclosure for this purchase can be found here. 0.86% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of TSO. Toronto Dominion Bank increased its position in Tesoro Corporation by 67,674.6% in the third quarter. Toronto Dominion Bank now owns 503,565 shares of the oil and gas company’s stock worth $40,063,000 after buying an additional 502,822 shares in the last quarter. APG Asset Management N.V. increased its position in Tesoro Corporation by 43.9% in the third quarter. APG Asset Management N.V. now owns 370,062 shares of the oil and gas company’s stock worth $29,442,000 after buying an additional 112,827 shares in the last quarter. TPH Asset Management LLC purchased a new position in Tesoro Corporation during the third quarter worth $1,353,000. Cadence Capital Management LLC increased its position in Tesoro Corporation by 31.7% in the fourth quarter. Cadence Capital Management LLC now owns 25,909 shares of the oil and gas company’s stock worth $2,266,000 after buying an additional 6,238 shares in the last quarter. Finally, BP PLC purchased a new position in Tesoro Corporation during the fourth quarter worth $1,224,000. 91.92% of the stock is currently owned by institutional investors.
Tesoro Corporation Company Profile
Tesoro Corporation (Tesoro) is an independent petroleum refining, logistics and marketing company. he Company operates through three segments. The Refining operating segment refines crude oil and other feedstocks into transportation fuels, such as gasoline and gasoline blendstocks, jet fuel and diesel fuel, as well as other products, including heavy fuel oils, liquefied petroleum gas and petroleum coke for sale in bulk markets to a range of customers within its markets.
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