Tesoro Corp. (TSO) Stock Price Up 3%
Tesoro Corp. (NYSE:TSO) rose 3% during mid-day trading on Tuesday . The stock traded as high as $78.41 and last traded at $77.89, with a volume of 825,815 shares changing hands. The stock had previously closed at $75.65.
Several brokerages have recently issued reports on TSO. Zacks Investment Research raised Tesoro Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, March 29th. Simmons reissued a “buy” rating and issued a $103.00 price objective on shares of Tesoro Corp. in a research note on Thursday, March 31st. Barclays PLC cut their price objective 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 cut their price objective 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 reissued a “buy” rating on shares of Tesoro Corp. in a research note on Wednesday, June 1st. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $103.93.
The company’s 50 day moving average is $75.59 and its 200 day moving average is $80.94. The company has a market cap of $9.42 billion and a price-to-earnings ratio of 6.63.
Tesoro Corp. (NYSE:TSO) last released its quarterly earnings data on Thursday, May 5th. The company reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.17. During the same period last year, the business earned $0.98 EPS. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $4.83 billion. The company’s revenue was down 21.1% compared to the same quarter last year. On average, equities research analysts forecast that Tesoro Corp. will post $5.93 earnings per share for the current year.
In other news, Director Edward G. Galante acquired 1,500 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The shares were bought at an average price of $75.27 per share, with a total value of $112,905.00. Following the acquisition, the director now directly owns 1,510 shares in the company, valued at approximately $113,657.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Daryl R. Schofield sold 2,660 shares of the firm’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $80.00, for a total value of $212,800.00. Following the sale, the senior vice president now directly owns 5,304 shares in the company, valued at approximately $424,320. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently made changes to their positions in TSO. Sawtooth Asset Management Inc. increased its position in shares of Tesoro Corp. by 2,075.7% in the fourth quarter. Sawtooth Asset Management Inc. now owns 10,378 shares of the company’s stock valued at $1,094,000 after buying an additional 9,901 shares during the last quarter. 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 valued at $1,721,000 after buying an additional 502 shares during the last quarter. TrimTabs Asset Management LLC bought a new position in shares of Tesoro Corp. during the fourth quarter valued at approximately $2,094,000. Comerica Bank increased its position in shares of Tesoro Corp. by 3.2% in the fourth quarter. Comerica Bank now owns 35,107 shares of the company’s stock valued at $3,568,000 after buying an additional 1,089 shares during the last quarter. Finally, USA Financial Portformulas Corp increased its position in shares of Tesoro Corp. by 22.9% in the fourth quarter. USA Financial Portformulas Corp now owns 36,880 shares of the company’s stock valued at $3,886,000 after buying an additional 6,867 shares during the last quarter.
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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