Traders Sell Shares of Tesoro Corp. (TSO) on Strength (TSO)
Investors sold shares of Tesoro Corp. (NYSE:TSO) on strength during trading hours on Tuesday. $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 companies 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
Several brokerages have weighed in on TSO. Zacks Investment Research lowered shares of Tesoro Corp. from a “hold” rating to a “sell” rating in a research note on Friday, August 26th. Jefferies Group started coverage on shares of Tesoro Corp. in a research note on Tuesday, August 23rd. They issued a “buy” rating and a $101.00 price target for the company. Simmons reiterated an “overweight” rating and issued a $82.00 price target (up from $78.00) on shares of Tesoro Corp. in a research note on Monday, August 8th. Wells Fargo & Co. reiterated a “hold” rating on shares of Tesoro Corp. in a research note on Saturday, August 6th. Finally, Credit Suisse Group AG restated a “hold” rating and set a $85.00 price objective on shares of Tesoro Corp. in a research note on Sunday, August 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. Tesoro Corp. presently has a consensus rating of “Buy” and a consensus price target of $101.73.
The stock’s 50-day moving average is $75.77 and its 200-day moving average is $79.14. The company has a market cap of $9.06 billion and a PE ratio of 7.10.
Tesoro Corp. (NYSE:TSO) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $3.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $1.70. During the same quarter in the prior year, the company earned $4.59 earnings per share. The firm had revenue of $6.29 billion for the quarter, compared to analyst estimates of $5.87 billion. The business’s revenue was down 23.7% compared to the same quarter last year. Analysts forecast that Tesoro Corp. will post $5.42 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be issued a dividend of $0.55 per share. 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 yield of 2.90%. The ex-dividend date of this dividend is Monday, August 29th.
In related news, CFO Steven Sterin purchased 1,100 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were acquired at an average cost of $73.93 per share, for a total transaction of $81,323.00. Following the transaction, the chief financial officer now owns 8,152 shares of the company’s stock, valued at $602,677.36. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.
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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