Tesoro Corp. (TSO) Shares Down 3.2%
Tesoro Corp. (NYSE:TSO) shares were down 3.2% during trading on Wednesday . The stock traded as low as $73.35 and last traded at $73.85, with a volume of 1,518,838 shares traded. The stock had previously closed at $76.31.
Several research analysts recently commented on TSO shares. Simmons reduced their target price on shares of Tesoro Corp. from $101.00 to $97.00 in a report on Tuesday, April 12th. Cowen and Company restated a “buy” rating on shares of Tesoro Corp. in a report on Wednesday, June 1st. Barclays PLC upgraded shares of Tesoro Corp. from a “neutral” rating to a “buy” rating and increased their target price for the stock from $96.00 to $100.00 in a report on Thursday, June 30th. Goldman Sachs Group Inc. upgraded shares of Tesoro Corp. from a “neutral” rating to a “buy” rating and increased their target price for the stock from $96.00 to $100.00 in a report on Wednesday, June 29th. Finally, Mizuho increased their target price on shares of Tesoro Corp. from $67.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, July 5th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $105.69.
The firm has a market cap of $8.88 billion and a price-to-earnings ratio of 6.25. The company has a 50-day moving average price of $76.15 and a 200-day moving average price of $82.63.
Tesoro Corp. (NYSE:TSO) last announced its quarterly earnings results on Thursday, May 5th. The company reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.17. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter last year, the firm posted $0.98 EPS. The business’s revenue for the quarter was down 21.1% compared to the same quarter last year. On average, equities research analysts anticipate that Tesoro Corp. will post $6.33 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, May 26th. This represents a $2.00 dividend on an annualized basis and a yield of 2.69%.
In other Tesoro Corp. news, SVP Daryl R. Schofield sold 2,660 shares of Tesoro Corp. stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $80.00, for a total transaction of $212,800.00. Following the transaction, the senior vice president now directly owns 5,304 shares of the company’s stock, valued at approximately $424,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven Sterin acquired 2,000 shares of the business’s stock in a transaction on Monday, May 16th. The shares were purchased at an average cost of $76.88 per share, for a total transaction of $153,760.00. Following the completion of the acquisition, the chief financial officer now directly owns 6,792 shares in the company, valued at $522,168.96. The disclosure for this purchase can be found here.
Other institutional investors have recently bought and sold shares of the company. Sawtooth Asset Management Inc. increased its position in Tesoro Corp. by 2,075.7% in the fourth quarter. Sawtooth Asset Management Inc. now owns 10,378 shares of the company’s stock worth $1,094,000 after buying an additional 9,901 shares in the last quarter. Penserra Capital Management LLC bought a new position in shares of Tesoro Corp. during the fourth quarter worth $1,258,000. SECOR Capital Advisors LP increased its position in shares of Tesoro Corp. by 282.6% in the fourth quarter. SECOR Capital Advisors LP now owns 12,811 shares of the company’s stock worth $1,350,000 after buying an additional 9,463 shares during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position in shares of Tesoro Corp. by 3.2% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 16,331 shares of the company’s stock worth $1,721,000 after buying an additional 502 shares during the period. Finally, TrimTabs Asset Management LLC bought a new position in shares of Tesoro Corp. during the fourth quarter worth $2,094,000.
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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