Tesoro Corp. (TSO) Earns “Overweight” Rating from Barclays PLC
Barclays PLC restated their overweight rating on shares of Tesoro Corp. (NYSE:TSO) in a research note issued to investors on Monday morning. The brokerage currently has a $105.00 target price on the stock, up from their prior target price of $100.00.
Several other research firms also recently issued reports on TSO. Vetr raised shares of Tesoro Corp. from a buy rating to a strong-buy rating in a research note on Wednesday, September 28th. Bank of America Corp. reaffirmed a buy rating and set a $109.00 price target (up previously from $95.00) on shares of Tesoro Corp. in a research note on Monday, September 26th. Zacks Investment Research raised shares of Tesoro Corp. from a sell rating to a hold rating in a research note on Thursday, September 22nd. Piper Jaffray Cos. raised their price target on shares of Tesoro Corp. from $82.00 to $92.00 and gave the company an overweight rating in a research note on Friday, September 16th. Finally, Jefferies Group began coverage on shares of Tesoro Corp. in a research note on Tuesday, August 23rd. They set a buy rating and a $101.00 price target for the company. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $101.63.
Tesoro Corp. (NYSE:TSO) opened at 81.76 on Monday. Tesoro Corp. has a 52 week low of $67.80 and a 52 week high of $119.67. The firm has a market capitalization of $9.77 billion, a price-to-earnings ratio of 7.65 and a beta of 2.03. The company has a 50-day moving average of $79.67 and a 200-day moving average of $78.64.
Tesoro Corp. (NYSE:TSO) last issued 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 business earned $6.29 billion during the quarter, compared to the consensus estimate of $5.87 billion. Tesoro Corp. had a net margin of 5.12% and a return on equity of 20.15%. The firm’s revenue was down 23.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.59 EPS. On average, equities analysts forecast that Tesoro Corp. will post $5.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.69%. This is a boost from Tesoro Corp.’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, August 29th. Tesoro Corp.’s dividend payout ratio (DPR) is presently 20.72%.
In related news, CFO Steven Sterin purchased 1,100 shares of Tesoro Corp. stock in a transaction on Friday, August 26th. The stock was acquired at an average cost 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 approximately $602,677.36. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.88% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. Pictet Asset Management Ltd. boosted its stake in Tesoro Corp. by 6.8% in the first quarter. Pictet Asset Management Ltd. now owns 69,288 shares of the company’s stock worth $5,590,000 after buying an additional 4,400 shares during the last quarter. BP Capital Fund Advisors LLC boosted its stake in Tesoro Corp. by 2.2% in the first quarter. BP Capital Fund Advisors LLC now owns 28,025 shares of the company’s stock worth $2,410,000 after buying an additional 610 shares during the last quarter. Scotia Capital Inc. boosted its stake in Tesoro Corp. by 146.1% in the first quarter. Scotia Capital Inc. now owns 4,613 shares of the company’s stock worth $397,000 after buying an additional 14,613 shares during the last quarter. State Street Corp boosted its stake in Tesoro Corp. by 2.6% in the first quarter. State Street Corp now owns 8,673,853 shares of the company’s stock worth $746,035,000 after buying an additional 219,476 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Tesoro Corp. by 106.7% in the first quarter. Canada Pension Plan Investment Board now owns 176,110 shares of the company’s stock worth $15,147,000 after buying an additional 90,900 shares during the last quarter. Institutional investors and hedge funds own 88.41% 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.
Receive News & Ratings for Tesoro Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesoro Corp. and related companies with MarketBeat.com's FREE daily email newsletter.