Tesoro Corp. (TSO) Stock Price Down 1.1%
Tesoro Corp. (NYSE:TSO)’s share price traded down 1.1% on Thursday . The stock traded as low as $74.37 and last traded at $74.98, with a volume of 1,104,331 shares changing hands. The stock had previously closed at $75.85.
Several equities analysts have weighed in on the company. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Tesoro Corp. in a research report on Saturday, August 6th. JPMorgan Chase & Co. dropped their target price on Tesoro Corp. from $100.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, June 10th. Goldman Sachs Group Inc. upgraded Tesoro Corp. from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $96.00 to $100.00 in a research note on Wednesday, June 29th. Wolfe Research upgraded Tesoro Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, June 20th. Finally, Howard Weil upgraded Tesoro Corp. from a “sector perform” rating to a “sector outperform” rating and decreased their price objective for the company from $105.00 to $93.00 in a research note on Monday, July 11th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $101.79.
The stock’s 50-day moving average price is $75.54 and its 200-day moving average price is $79.21. The company has a market cap of $9.05 billion and a price-to-earnings ratio of 7.09.
Tesoro Corp. (NYSE:TSO) last posted its earnings results on Wednesday, August 3rd. The company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $1.70. The company earned $6.29 billion during the quarter, compared to analyst estimates of $5.87 billion. Tesoro Corp.’s quarterly revenue was down 23.7% compared to the same quarter last year. During the same quarter last year, the business posted $4.59 EPS. On average, equities research analysts forecast that Tesoro Corp. will post $5.36 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be paid a $0.55 dividend. This is a positive change from Tesoro Corp.’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, August 29th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.90%.
In other news, SVP Daryl R. Schofield sold 2,660 shares of the stock in a transaction dated 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 in the company, valued at $424,320. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Other large investors recently bought and sold shares of the company. BlackRock Advisors LLC raised its stake in Tesoro Corp. by 50.5% in the fourth quarter. BlackRock Advisors LLC now owns 389,095 shares of the company’s stock worth $40,999,000 after buying an additional 130,523 shares during the period. Systematic Financial Management LP bought a new stake in Tesoro Corp. during the fourth quarter worth about $6,380,000. Airain ltd raised its stake in Tesoro Corp. by 2,193.5% in the fourth quarter. Airain ltd now owns 49,860 shares of the company’s stock worth $5,254,000 after buying an additional 47,686 shares during the period. Finally, Bridgewater Associates LP raised its stake in Tesoro Corp. by 10.8% in the fourth quarter. Bridgewater Associates LP now owns 92,623 shares of the company’s stock worth $9,760,000 after buying an additional 9,000 shares during the period.
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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