Tesoro Corp. (TSO) Stock Price Down 2.3%
Tesoro Corp. (NYSE:TSO) shares fell 2.3% during mid-day trading on Thursday . The company traded as low as $73.03 and last traded at $73.65, with a volume of 1,097,877 shares trading hands. The stock had previously closed at $75.42.
A number of brokerages have recently issued reports on TSO. Zacks Investment Research lowered Tesoro Corp. from a “hold” rating to a “sell” rating in a research report on Friday, August 26th. Jefferies Group began coverage on Tesoro Corp. in a research report on Tuesday, August 23rd. They set a “buy” rating and a $101.00 target price on the stock. Simmons reissued an “overweight” rating and issued a $82.00 price objective (up from $78.00) on shares of Tesoro Corp. in a research note on Monday, August 8th. Wells Fargo & Co. reissued a “hold” rating on shares of Tesoro Corp. in a research note on Saturday, August 6th. Finally, Credit Suisse Group AG reissued a “hold” rating and issued a $85.00 price objective on shares of Tesoro Corp. in a research note on Sunday, August 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $101.73.
The company has a market capitalization of $8.91 billion and a price-to-earnings ratio of 6.98. The stock’s 50-day moving average is $75.68 and its 200 day moving average is $79.04.
Tesoro Corp. (NYSE:TSO) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $3.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $1.70. During the same quarter in the prior year, the company earned $4.59 earnings per share. The firm had revenue of $6.29 billion for the quarter, compared to analyst estimates of $5.87 billion. The business’s revenue was down 23.7% compared to the same quarter last year. On average, equities analysts expect that Tesoro Corp. will post $5.42 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be given a $0.55 dividend. This is a positive change from Tesoro Corp.’s previous quarterly dividend of $0.50. This represents a $2.20 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Monday, August 29th.
In related news, CFO Steven Sterin bought 1,100 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was bought at an average price of $73.93 per share, with a total value of $81,323.00. Following the completion of the transaction, the chief financial officer now directly owns 8,152 shares of the company’s stock, valued at $602,677.36. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.
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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