Tesoro Corp. (TSO) Trading Up 3.6%
Tesoro Corp. (NYSE:TSO) shares were up 3.6% on Monday . The stock traded as high as $77.40 and last traded at $77.40, with a volume of 1,279,319 shares traded. The stock had previously closed at $74.71.
Several research analysts recently weighed in on TSO shares. Simmons reduced their price target on shares of Tesoro Corp. from $101.00 to $97.00 in a research report on Tuesday, April 12th. Barclays PLC upgraded shares of Tesoro Corp. from a “neutral” rating to a “buy” rating and upped their price target for the stock from $96.00 to $100.00 in a research report on Thursday, June 30th. Goldman Sachs Group Inc. upgraded shares of Tesoro Corp. from a “neutral” rating to a “buy” rating and upped their price target for the stock from $96.00 to $100.00 in a research report on Wednesday, June 29th. Cowen and Company restated a “buy” rating on shares of Tesoro Corp. in a research report on Wednesday, June 1st. Finally, Mizuho upped their price target on shares of Tesoro Corp. from $67.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, July 5th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Tesoro Corp. currently has an average rating of “Buy” and a consensus target price of $101.79.
The firm has a 50-day moving average price of $75.44 and a 200-day moving average price of $79.59. The company has a market capitalization of $9.09 billion and a PE ratio of 7.118.
Tesoro Corp. (NYSE:TSO) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $3.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $1.70. The company earned $6.29 billion during the quarter, compared to analyst estimates of $5.87 billion. The firm’s revenue for the quarter was down 23.7% on a year-over-year basis. During the same quarter last year, the business earned $4.59 EPS. Equities analysts expect that Tesoro Corp. will post $5.80 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Monday, August 29th. This is a positive change from Tesoro Corp.’s previous quarterly dividend of $0.50.
In other Tesoro Corp. news, SVP Daryl R. Schofield sold 2,660 shares of Tesoro Corp. stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $80.00, for a total transaction of $212,800.00. Following the completion of the transaction, the senior vice president now owns 5,304 shares in the company, valued at $424,320. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Steven Sterin bought 2,000 shares of the business’s 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 transaction, the chief financial officer now owns 6,792 shares of the company’s stock, valued at approximately $522,168.96. The disclosure for this purchase can be found here.
Other institutional investors have made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted 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 boosted 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. boosted 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 acquired a new position in shares of Tesoro Corp. during the fourth quarter worth about $2,094,000. Finally, Airain ltd boosted 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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