Tesoro Corp. (TSO) Trading Down 1.1%
Tesoro Corp. (NYSE:TSO) shares dropped 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. The stock had previously closed at $75.85.
TSO has been the subject of several recent analyst reports. Cowen and Company restated a “buy” rating on shares of Tesoro Corp. in a research note on Wednesday, June 1st. Wells Fargo & Co. restated a “hold” rating on shares of Tesoro Corp. in a research note on Sunday, July 10th. Credit Suisse Group AG cut Tesoro Corp. from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $100.00 to $90.00 in a research note on Wednesday, June 15th. Citigroup Inc. upgraded Tesoro Corp. from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $92.50 to $92.00 in a research note on Tuesday, July 19th. Finally, Barclays PLC upgraded Tesoro Corp. from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $96.00 to $100.00 in a research note on Thursday, June 30th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $101.79.
The stock’s 50 day moving average price is $75.57 and its 200 day moving average price is $79.12. The company has a market cap of $9.09 billion and a price-to-earnings ratio of 7.12.
Tesoro Corp. (NYSE:TSO) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $3.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.77 by $1.70. The company had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $5.87 billion. The business’s quarterly revenue was down 23.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.59 EPS. Analysts predict that Tesoro Corp. will post $5.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be paid a dividend of $0.55 per share. This is a boost 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 2.89%.
In other Tesoro Corp. news, SVP Daryl R. Schofield sold 2,660 shares of Tesoro Corp. stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $80.00, for a total transaction of $212,800.00. Following the completion of the transaction, the senior vice president now owns 5,304 shares in the company, valued at approximately $424,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
A hedge fund recently raised its stake in Tesoro Corp. stock. BlackRock Advisors LLC increased its position in shares of Tesoro Corp. (NYSE:TSO) by 50.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 389,095 shares of the company’s stock after buying an additional 130,523 shares during the period. BlackRock Advisors LLC owned 0.32% of Tesoro Corp. worth $40,999,000 as of its most recent filing with the SEC.
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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