Tesoro Corp. (NYSE:TSO)’s share price dropped 5.3% during trading on Wednesday . The company traded as low as $69.49 and last traded at $70.96, with a volume of 2,481,109 shares. The stock had previously closed at $74.94.

Several equities analysts recently commented on the stock. Simmons reduced their target price on shares of Tesoro Corp. from $101.00 to $97.00 in a report on Tuesday, April 12th. Cowen and Company reaffirmed a “buy” rating on shares of Tesoro Corp. in a report on Wednesday, June 1st. Barclays PLC raised shares of Tesoro Corp. from a “neutral” rating to a “buy” rating and increased their target price for the company from $96.00 to $100.00 in a report on Thursday, June 30th. Goldman Sachs Group Inc. raised shares of Tesoro Corp. from a “neutral” rating to a “buy” rating and increased their target price for the company from $96.00 to $100.00 in a report on Wednesday, June 29th. Finally, Mizuho increased their target price on shares of Tesoro Corp. from $67.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Tesoro Corp. currently has a consensus rating of “Buy” and a consensus price target of $108.31.

The company has a 50 day moving average of $77.05 and a 200-day moving average of $83.70. The company has a market capitalization of $8.51 billion and a PE ratio of 5.99.

Tesoro Corp. (NYSE:TSO) last announced its quarterly earnings data on Thursday, May 5th. The company reported $1.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.17. During the same period in the previous year, the business earned $0.98 earnings per share. The company earned $5.10 billion during the quarter, compared to analysts’ expectations of $4.83 billion. The business’s revenue for the quarter was down 21.1% compared to the same quarter last year. Equities analysts predict that Tesoro Corp. will post $6.86 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Thursday, May 26th.

In other Tesoro Corp. news, CFO Steven Sterin purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The shares were bought at an average price of $76.88 per share, for a total transaction of $153,760.00. Following the acquisition, the chief financial officer now owns 6,792 shares in the company, valued at $522,168.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward G. Galante purchased 1,500 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was acquired at an average price of $75.27 per share, for a total transaction of $112,905.00. Following the acquisition, the director now owns 1,510 shares in the company, valued at approximately $113,657.70. The disclosure for this purchase can be found here.

A number of institutional investors have modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Tesoro Corp. by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 11,525,297 shares of the company’s stock valued at $1,214,421,000 after buying an additional 88,156 shares during the period. California Public Employees Retirement System increased its position in shares of Tesoro Corp. by 14.5% in the fourth quarter. California Public Employees Retirement System now owns 406,052 shares of the company’s stock valued at $42,786,000 after buying an additional 51,500 shares during the period. Rhumbline Advisers increased its position in shares of Tesoro Corp. by 6.0% in the fourth quarter. Rhumbline Advisers now owns 173,891 shares of the company’s stock valued at $18,323,000 after buying an additional 9,889 shares during the period. Winton Capital Group Ltd increased its position in shares of Tesoro Corp. by 64.6% in the fourth quarter. Winton Capital Group Ltd now owns 418,376 shares of the company’s stock valued at $44,084,000 after buying an additional 164,143 shares during the period. Finally, Artemis Investment Management LLP increased its position in shares of Tesoro Corp. by 25.0% in the fourth quarter. Artemis Investment Management LLP now owns 74,868 shares of the company’s stock valued at $7,890,000 after buying an additional 14,972 shares during the period.

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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