Tesoro Corp. (TSO) Stock Price Down 2.3%
Tesoro Corp. (NYSE:TSO) was down 2.3% on Thursday . The stock traded as low as $73.03 and last traded at $73.65, with a volume of 1,097,877 shares traded. The stock had previously closed at $75.42.
Several equities research analysts have weighed in on TSO shares. Credit Suisse Group AG cut Tesoro Corp. from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $100.00 to $90.00 in a report on Wednesday, June 15th. Cowen and Company reissued a “buy” rating on shares of Tesoro Corp. in a research report on Wednesday, June 1st. Simmons reissued an “overweight” rating and issued a $82.00 target price (up previously from $78.00) on shares of Tesoro Corp. in a research report on Monday, August 8th. Howard Weil raised Tesoro Corp. from a “sector perform” rating to a “sector outperform” rating and decreased their target price for the stock from $105.00 to $93.00 in a research report on Monday, July 11th. Finally, Zacks Investment Research lowered Tesoro Corp. from a “hold” rating to a “sell” rating in a research report on Friday, August 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. Tesoro Corp. has a consensus rating of “Buy” and a consensus target price of $101.73.
The stock has a 50-day moving average price of $75.75 and a 200-day moving average price of $79.11. The stock has a market cap of $8.76 billion and a PE ratio of 6.86.
Tesoro Corp. (NYSE:TSO) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $1.70. The firm earned $6.29 billion during the quarter, compared to analysts’ expectations of $5.87 billion. During the same quarter in the previous year, the firm posted $4.59 EPS. The firm’s revenue for the quarter was down 23.7% on a year-over-year basis. Analysts predict that Tesoro Corp. will post $5.42 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be issued a $0.55 dividend. This is a positive change from Tesoro Corp.’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, August 29th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.00%.
In other news, CFO Steven Sterin purchased 1,100 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was purchased at an average price of $73.93 per share, for a total transaction of $81,323.00. Following the completion of the acquisition, the chief financial officer now owns 8,152 shares of the company’s stock, valued at $602,677.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
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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