Tesoro Corp. (TSO) Stock Price Down 2.1%
Tesoro Corp. (NYSE:TSO) shares fell 2.1% on Thursday . The company traded as low as $74.05 and last traded at $74.28, with a volume of 1,160,656 shares trading hands. The stock had previously closed at $75.90.
A number of research firms recently weighed in on TSO. Wells Fargo & Co. restated a “hold” rating on shares of Tesoro Corp. in a research note on Saturday, August 6th. Cowen and Company reiterated a “buy” rating on shares of Tesoro Corp. in a report on Wednesday, June 1st. JPMorgan Chase & Co. reduced their price target on shares of Tesoro Corp. from $100.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, June 10th. Zacks Investment Research upgraded shares of Tesoro Corp. from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 8th. Finally, Scotiabank upgraded shares of Tesoro Corp. from a “sector perform” rating to an “outperform” rating and reduced their price target for the company from $105.00 to $93.00 in a report on Monday, July 11th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $101.73.
The company has a market capitalization of $8.85 billion and a P/E ratio of 6.94. The stock’s 50 day moving average is $75.50 and its 200-day moving average is $79.04.
Tesoro Corp. (NYSE:TSO) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $3.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.77 by $1.70. During the same period last year, the company earned $4.59 earnings per share. The company had revenue of $6.29 billion for the quarter, compared to analyst estimates of $5.87 billion. The business’s revenue for the quarter was down 23.7% compared to the same quarter last year. Equities analysts anticipate that Tesoro Corp. will post $5.41 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be paid a dividend of $0.55 per share. The ex-dividend date is Monday, August 29th. This is an increase from Tesoro Corp.’s previous quarterly dividend of $0.50. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.97%.
A hedge fund recently raised its stake in Tesoro Corp. stock. BlackRock Advisors LLC increased its position in Tesoro Corp. (NYSE:TSO) by 50.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 389,095 shares of the company’s stock after buying an additional 130,523 shares during the period. BlackRock Advisors LLC owned approximately 0.32% of Tesoro Corp. worth $40,999,000 at the end of the most recent 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.