Piper Jaffray Cos. Increases Tesoro Corp. (TSO) Price Target to $92.00
Tesoro Corp. (NYSE:TSO) had its price objective hoisted by equities research analysts at Piper Jaffray Cos. from $82.00 to $92.00 in a research note issued to investors on Friday. The brokerage currently has an “overweight” rating on the stock. Piper Jaffray Cos.’s price target would suggest a potential upside of 10.13% from the stock’s previous close.
Other equities research analysts have also issued reports about the stock. Wells Fargo & Co. reiterated a “hold” rating on shares of Tesoro Corp. in a research note on Saturday, August 6th. JPMorgan Chase & Co. decreased their price objective on shares of Tesoro Corp. from $100.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, June 10th. Goldman Sachs Group Inc. raised shares of Tesoro Corp. from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $96.00 to $100.00 in a research report on Wednesday, June 29th. Wolfe Research raised shares of Tesoro Corp. from a “market perform” rating to an “outperform” rating in a research report on Monday, June 20th. Finally, Howard Weil raised shares of Tesoro Corp. from a “sector perform” rating to a “sector outperform” rating and decreased their price objective for the company from $105.00 to $93.00 in a research report on Monday, July 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Tesoro Corp. presently has a consensus rating of “Buy” and an average target price of $101.13.
Tesoro Corp. (NYSE:TSO) opened at 83.54 on Friday. The firm has a market cap of $9.98 billion, a price-to-earnings ratio of 7.82 and a beta of 2.10. The stock’s 50 day moving average is $76.84 and its 200-day moving average is $79.33. Tesoro Corp. has a 12 month low of $67.80 and a 12 month high of $119.67.
Tesoro Corp. (NYSE:TSO) last issued its quarterly 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. Tesoro Corp. had a net margin of 5.12% and a return on equity of 20.15%. The firm had revenue of $6.29 billion for the quarter, compared to analyst estimates of $5.87 billion. During the same period in the previous year, the business earned $4.59 EPS. The company’s revenue was down 23.7% compared to the same quarter last year. On average, analysts anticipate that Tesoro Corp. will post $5.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were given a $0.55 dividend. The ex-dividend date of this dividend was Monday, August 29th. This is a boost from Tesoro Corp.’s previous quarterly dividend of $0.50. This represents a $2.20 annualized dividend and a dividend yield of 2.63%. Tesoro Corp.’s payout ratio is presently 20.72%.
In other news, CFO Steven Sterin bought 1,100 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was bought at an average cost of $73.93 per share, for a total transaction of $81,323.00. Following the transaction, the chief financial officer now owns 8,152 shares of the company’s stock, valued at $602,677.36. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the stock. Signaturefd LLC boosted its position in shares of Tesoro Corp. by 1.4% in the second quarter. Signaturefd LLC now owns 1,351 shares of the company’s stock valued at $101,000 after buying an additional 18 shares during the last quarter. Acrospire Investment Management LLC purchased a new position in shares of Tesoro Corp. during the first quarter valued at approximately $103,000. Zions Bancorporation boosted its position in shares of Tesoro Corp. by 2,912.2% in the first quarter. Zions Bancorporation now owns 1,235 shares of the company’s stock valued at $106,000 after buying an additional 1,194 shares during the last quarter. Advisor Group Inc. purchased a new position in shares of Tesoro Corp. during the second quarter valued at approximately $118,000. Finally, Daiwa SB Investments Ltd. boosted its position in shares of Tesoro Corp. by 8.0% in the second quarter. Daiwa SB Investments Ltd. now owns 1,620 shares of the company’s stock valued at $122,000 after buying an additional 120 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.
Tesoro Corp. Company Profile
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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