Tesoro Corp. (TSO) Shares Down 2.1%
Tesoro Corp. (NYSE:TSO)’s share price dropped 2.1% during mid-day trading on Thursday . The company traded as low as $74.05 and last traded at $74.28, with a volume of 1,160,656 shares traded. The stock had previously closed at $75.90.
TSO has been the subject of a number of research analyst reports. Zacks Investment Research lowered Tesoro Corp. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 17th. Cowen and Company restated a “buy” rating on shares of Tesoro Corp. in a research note on Wednesday, June 1st. JPMorgan Chase & Co. reduced their target price on Tesoro Corp. from $100.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, June 10th. Credit Suisse Group AG lowered Tesoro Corp. from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $100.00 to $90.00 in a research note on Wednesday, June 15th. Finally, Wolfe Research upgraded Tesoro Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, June 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $101.73.
The firm has a market cap of $8.84 billion and a PE ratio of 6.92. The company’s 50 day moving average price is $75.69 and its 200-day moving average price is $79.02.
Tesoro Corp. (NYSE:TSO) last issued its earnings results on Wednesday, August 3rd. The company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $1.70. The firm had revenue of $6.29 billion for the quarter, compared to analyst estimates of $5.87 billion. During the same quarter in the previous year, the firm posted $4.59 EPS. The business’s revenue for the quarter was down 23.7% on a year-over-year basis. On average, equities analysts predict that Tesoro Corp. will post $5.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors 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 represents a $2.20 dividend on an annualized basis and a dividend yield of 2.97%. This is an increase from Tesoro Corp.’s previous quarterly dividend of $0.50.
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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