Tesoro Corp. (TSO) Trading Down 3.2%
Shares of Tesoro Corp. (NYSE:TSO) fell 3.2% during mid-day trading on Wednesday . The stock traded as low as $76.12 and last traded at $76.25, with a volume of 885,262 shares trading hands. The stock had previously closed at $78.73.
Several research firms have recently issued reports on TSO. Simmons reissued a “buy” rating and issued a $103.00 price target on shares of Tesoro Corp. in a research report on Thursday, March 31st. Mizuho boosted their price target on shares of Tesoro Corp. from $67.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, July 5th. Barclays PLC lowered their price target on shares of Tesoro Corp. from $120.00 to $114.00 and set an “overweight” rating on the stock in a research report on Friday, April 8th. Citigroup Inc. raised shares of Tesoro Corp. from a “neutral” rating to a “buy” rating and lowered their price target for the company from $92.50 to $92.00 in a research report on Tuesday, July 19th. Finally, Zacks Investment Research raised shares of Tesoro Corp. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 8th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Tesoro Corp. currently has a consensus rating of “Buy” and an average price target of $103.93.
The stock has a market capitalization of $9.09 billion and a P/E ratio of 6.40. The company’s 50 day moving average price is $75.37 and its 200-day moving average price is $80.74.
Tesoro Corp. (NYSE:TSO) last released its earnings results on Thursday, May 5th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.17. The firm had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter in the previous year, the business posted $0.98 EPS. Tesoro Corp.’s revenue was down 21.1% on a year-over-year basis. Equities research analysts anticipate that Tesoro Corp. will post $5.93 earnings per share for the current fiscal year.
In other news, CFO Steven Sterin bought 2,000 shares of the firm’s stock in a transaction 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 purchase, the chief financial officer now owns 6,792 shares in the company, valued at $522,168.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Daryl R. Schofield sold 2,660 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $80.00, for a total transaction of $212,800.00. Following the sale, the senior vice president now owns 5,304 shares in the company, valued at approximately $424,320. The disclosure for this sale can be found here.
A number of large investors have recently added to or reduced their stakes in TSO. BlackRock Advisors LLC boosted its stake in Tesoro Corp. by 50.5% in the fourth quarter. BlackRock Advisors LLC now owns 389,095 shares of the company’s stock worth $40,999,000 after buying an additional 130,523 shares during the last quarter. Airain ltd raised its stake in shares of Tesoro Corp. by 2,193.5% in the fourth quarter. Airain ltd now owns 49,860 shares of the company’s stock worth $5,254,000 after buying an additional 47,686 shares during the period. TrimTabs Asset Management LLC bought a new stake in shares of Tesoro Corp. during the fourth quarter worth about $2,094,000. Systematic Financial Management LP bought a new stake in shares of Tesoro Corp. during the fourth quarter worth about $6,380,000. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in shares of Tesoro Corp. by 3.2% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 16,331 shares of the company’s stock worth $1,721,000 after buying an additional 502 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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