Tesoro Corp. (TSO) Shares Down 3.6%
Tesoro Corp. (NYSE:TSO) dropped 3.6% on Thursday . The stock traded as low as $74.36 and last traded at $74.36, with a volume of 2,048,629 shares changing hands. The stock had previously closed at $77.13.
TSO has been the topic of several analyst reports. Cowen and Company reiterated a “buy” rating on shares of Tesoro Corp. in a research report on Wednesday, June 1st. Wells Fargo & Co. reiterated a “hold” rating on shares of Tesoro Corp. in a research report on Sunday, July 10th. Credit Suisse Group AG cut Tesoro Corp. from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $100.00 to $90.00 in a research report on Wednesday, June 15th. Barclays PLC upgraded Tesoro Corp. from a “neutral” rating to a “buy” rating and upped their price target for the company from $96.00 to $100.00 in a research report on Thursday, June 30th. Finally, Zacks Investment Research upgraded Tesoro Corp. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 8th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $104.27.
The company has a 50 day moving average price of $75.19 and a 200 day moving average price of $79.95. The firm has a market capitalization of $8.88 billion and a P/E ratio of 6.25.
Tesoro Corp. (NYSE:TSO) last issued its earnings results on Wednesday, August 3rd. The company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $1.70. The business had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $5.87 billion. The firm’s revenue for the quarter was down 23.7% compared to the same quarter last year. During the same period last year, the business posted $4.59 EPS. On average, equities research analysts expect that Tesoro Corp. will post $5.89 EPS for the current fiscal year.
In other news, CFO Steven Sterin acquired 2,000 shares of Tesoro Corp. stock in a transaction on Monday, May 16th. The shares were acquired at an average price of $76.88 per share, with a total value of $153,760.00. Following the purchase, the chief financial officer now directly owns 6,792 shares in the company, valued at approximately $522,168.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Daryl R. Schofield sold 2,660 shares of Tesoro Corp. stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $80.00, for a total value of $212,800.00. Following the completion of the sale, the senior vice president now directly owns 5,304 shares in the company, valued at approximately $424,320. The disclosure for this sale can be found here.
Several institutional investors recently added to or reduced their stakes in TSO. American International Group Inc. increased its position in Tesoro Corp. by 14.2% in the fourth quarter. American International Group Inc. now owns 73,510 shares of the company’s stock valued at $7,745,000 after buying an additional 9,165 shares in the last quarter. BlackRock Advisors LLC increased its position in Tesoro Corp. by 50.5% in the fourth quarter. BlackRock Advisors LLC now owns 389,095 shares of the company’s stock valued at $40,999,000 after buying an additional 130,523 shares in the last quarter. Airain ltd increased its position in Tesoro Corp. by 2,193.5% in the fourth quarter. Airain ltd now owns 49,860 shares of the company’s stock valued at $5,254,000 after buying an additional 47,686 shares in the last quarter. TrimTabs Asset Management LLC bought a new position in Tesoro Corp. during the fourth quarter valued at $2,094,000. Finally, Systematic Financial Management LP bought a new position in Tesoro Corp. during the fourth quarter valued at $6,380,000.
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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