Investors Sell Shares of Tesoro Corp. (TSO) on Strength (TSO)
Traders sold shares of Tesoro Corp. (NYSE:TSO) on strength during trading hours on Monday. $22.28 million flowed into the stock on the tick-up and $47.56 million flowed out of the stock on the tick-down, for a money net flow of $25.28 million out of the stock. Of all equities tracked, Tesoro Corp. had the 0th highest net out-flow for the day. Tesoro Corp. traded up $0.35 for the day and closed at $73.75
A number of analysts have recently commented on the company. Zacks Investment Research raised Tesoro Corp. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 8th. JPMorgan Chase & Co. dropped their price objective on Tesoro Corp. from $100.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, June 10th. Cowen and Company reissued a “buy” rating on shares of Tesoro Corp. in a research note on Wednesday, June 1st. Mizuho lifted their target price on Tesoro Corp. from $67.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, July 5th. Finally, Citigroup Inc. upgraded Tesoro Corp. from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $92.50 to $92.00 in a report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $101.73.
The firm has a 50 day moving average price of $75.72 and a 200 day moving average price of $79.10. The company has a market capitalization of $8.81 billion and a P/E ratio of 6.90.
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, beating the Zacks’ consensus estimate of $1.77 by $1.70. During the same period last year, the company earned $4.59 EPS. The company earned $6.29 billion during 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 expect that Tesoro Corp. will post $5.41 EPS for the current fiscal 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 $0.55 dividend. This is a positive change 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 2.98%. The ex-dividend date of this dividend is Monday, August 29th.
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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