Tesoro Corp. (TSO) Trading Up 3.6%
Tesoro Corp. (NYSE:TSO)’s share price was up 3.6% during mid-day trading on Monday . The company traded as high as $77.40 and last traded at $77.40, with a volume of 1,279,319 shares. The stock had previously closed at $74.71.
A number of equities analysts have recently issued reports on TSO shares. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Tesoro Corp. in a research report on Sunday, July 10th. Wolfe Research raised shares of Tesoro Corp. from a “market perform” rating to an “outperform” rating in a report on Monday, June 20th. Howard Weil raised shares of Tesoro Corp. from a “sector perform” rating to a “sector outperform” rating and dropped their price objective for the company from $105.00 to $93.00 in a report on Monday, July 11th. Mizuho boosted their price objective on shares of Tesoro Corp. from $67.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, July 5th. Finally, Barclays PLC reissued an “overweight” rating and set a $105.00 price objective on shares of Tesoro Corp. in a report on Tuesday, August 2nd. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $101.79.
The company has a market capitalization of $9.26 billion and a PE ratio of 7.25. The firm has a 50-day moving average of $75.26 and a 200-day moving average of $79.87.
Tesoro Corp. (NYSE:TSO) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $3.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $1.70. The company had revenue of $6.29 billion for the quarter, compared to analyst estimates of $5.87 billion. During the same quarter in the prior year, the business earned $4.59 earnings per share. Tesoro Corp.’s revenue was down 23.7% compared to the same quarter last year. Analysts forecast that Tesoro Corp. will post $5.83 earnings per share for the current year.
In related news, CFO Steven Sterin purchased 2,000 shares of the business’s stock in a transaction that occurred 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 purchase, the chief financial officer now directly owns 6,792 shares of the company’s stock, valued at $522,168.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $212,800.00. Following the sale, the senior vice president now owns 5,304 shares in the company, valued at $424,320. The disclosure for this sale can be found here.
Other large investors recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake 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 in the last quarter. Aberdeen Asset Management PLC UK raised its stake in shares of Tesoro Corp. by 3.1% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 63,459 shares of the company’s stock valued at $6,443,000 after buying an additional 1,906 shares in the last quarter. American International Group Inc. raised its stake in shares of Tesoro Corp. by 14.2% in the fourth quarter. American International Group Inc. now owns 73,510 shares of the company’s stock valued at $7,745,000 after buying an additional 9,165 shares in the last quarter. TrimTabs Asset Management LLC bought a new stake in shares of Tesoro Corp. during the fourth quarter valued at approximately $2,094,000. Finally, Airain ltd raised its stake in shares of Tesoro Corp. by 2,193.5% in the fourth quarter. Airain ltd now owns 49,860 shares of the company’s stock valued at $5,254,000 after buying an additional 47,686 shares in 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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