Tesoro Corp. (NYSE:TSO)’s share price 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. The stock had previously closed at $77.13.

TSO has been the topic of several recent research reports. Credit Suisse Group AG cut shares of Tesoro Corp. from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $100.00 to $90.00 in a research note on Wednesday, June 15th. Cowen and Company reiterated a “buy” rating on shares of Tesoro Corp. in a research note on Wednesday, June 1st. Howard Weil upgraded shares of Tesoro Corp. from a “sector perform” rating to a “sector outperform” rating and lowered their price objective for the stock from $105.00 to $93.00 in a research note on Monday, July 11th. Wells Fargo & Co. reiterated a “hold” rating on shares of Tesoro Corp. in a research note on Sunday, July 10th. Finally, Zacks Investment Research cut shares of Tesoro Corp. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 17th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $103.67.

The company has a market capitalization of $8.94 billion and a price-to-earnings ratio of 6.29. The stock’s 50 day moving average price is $75.26 and its 200 day moving average price is $79.87.

Tesoro Corp. (NYSE:TSO) last released its earnings results on Wednesday, August 3rd. The company reported $3.47 EPS for the quarter, topping the Zacks’ consensus estimate of $1.77 by $1.70. During the same period last year, the firm earned $4.59 EPS. The firm had revenue of $6.29 billion for the quarter, compared to analyst estimates of $5.87 billion. The company’s revenue for the quarter was down 23.7% compared to the same quarter last year. On average, equities research analysts anticipate that Tesoro Corp. will post $5.89 earnings per share for the current year.

In related news, CFO Steven Sterin purchased 2,000 shares of the firm’s stock in a transaction on Monday, May 16th. The stock was bought at an average cost of $76.88 per share, with a total value of $153,760.00. Following the completion of the acquisition, the chief financial officer now owns 6,792 shares of the company’s stock, valued at approximately $522,168.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Daryl R. Schofield sold 2,660 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $80.00, for a total value of $212,800.00. Following the completion of the transaction, the senior vice president now directly owns 5,304 shares of the company’s stock, valued at $424,320. The disclosure for this sale can be found here.

Other hedge funds and institutional investors recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position 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 last quarter. Aberdeen Asset Management PLC UK increased its position in shares of Tesoro Corp. by 3.1% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 63,459 shares of the company’s stock worth $6,443,000 after buying an additional 1,906 shares during the last quarter. American International Group Inc. increased its position in shares of Tesoro Corp. by 14.2% in the fourth quarter. American International Group Inc. now owns 73,510 shares of the company’s stock worth $7,745,000 after buying an additional 9,165 shares during the last quarter. TrimTabs Asset Management LLC bought a new position in shares of Tesoro Corp. during the fourth quarter worth about $2,094,000. Finally, Airain ltd increased its position 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 last quarter.

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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