Tesoro Corp. (TSO) Shares Down 5.3%
Tesoro Corp. (NYSE:TSO)’s share price was down 5.3% during trading on Wednesday . The stock traded as low as $69.49 and last traded at $70.96, with a volume of 2,481,109 shares trading hands. The stock had previously closed at $74.94.
Several equities analysts have recently commented on TSO shares. Zacks Investment Research raised Tesoro Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, March 29th. Simmons reaffirmed a “buy” rating and issued a $103.00 price target on shares of Tesoro Corp. in a research note on Thursday, March 31st. Barclays PLC decreased their price target on Tesoro Corp. from $120.00 to $114.00 and set an “overweight” rating on the stock in a research note on Friday, April 8th. Credit Suisse Group AG decreased their price target on Tesoro Corp. from $125.00 to $104.00 and set an “outperform” rating on the stock in a research note on Monday, April 11th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Tesoro Corp. in a research note on Wednesday, June 1st. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Tesoro Corp. has an average rating of “Buy” and an average price target of $108.31.
The company has a market cap of $8.57 billion and a P/E ratio of 6.032. The stock’s 50 day moving average price is $76.60 and its 200-day moving average price is $83.51.
Tesoro Corp. (NYSE:TSO) last released its quarterly earnings results on Thursday, May 5th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.17. The company had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $4.83 billion. The business’s quarterly revenue was down 21.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 EPS. On average, equities research analysts expect that Tesoro Corp. will post $6.86 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.86%. The ex-dividend date was Thursday, May 26th.
In other news, SVP Daryl R. Schofield sold 2,660 shares of Tesoro Corp. stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $80.00, for a total value of $212,800.00. Following the completion of the sale, the senior vice president now owns 5,304 shares of the company’s stock, valued at $424,320. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Steven Sterin acquired 2,000 shares of the stock in a transaction dated Monday, May 16th. The stock was acquired at an average cost 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 $522,168.96. The disclosure for this purchase can be found here.
Several large investors have made changes to their positions in TSO. Winton Capital Group Ltd increased its stake in shares of Tesoro Corp. by 64.6% in the fourth quarter. Winton Capital Group Ltd now owns 418,376 shares of the company’s stock worth $44,084,000 after buying an additional 164,143 shares in the last quarter. Morgan Stanley increased its stake in shares of Tesoro Corp. by 17.0% in the fourth quarter. Morgan Stanley now owns 863,531 shares of the company’s stock worth $90,990,000 after buying an additional 125,714 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Tesoro Corp. by 19.4% in the fourth quarter. Wells Fargo & Company MN now owns 630,158 shares of the company’s stock worth $66,401,000 after buying an additional 102,567 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Tesoro Corp. by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 11,525,297 shares of the company’s stock worth $1,214,421,000 after buying an additional 88,156 shares in the last quarter. Finally, Systematic Financial Management LP acquired a new stake in shares of Tesoro Corp. during the fourth quarter worth approximately $6,380,000.
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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