Traders Purchase Large Volume of Tesoro Corp. Put Options (TSO)
Shares of Tesoro Corp. (NYSE:TSO) saw some unusual options trading activity on Friday. Investors purchased 8,739 put options on the stock, American Banking News reports. This is an increase of 180% compared to the typical daily volume of 3,121 put options.
TSO has been the subject of a number of recent research reports. Analysts at Imperial Capital cut their price target on shares of Tesoro Corp. (NYSE:TSO) from $65.00 to $59.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Oppenheimer downgraded shares of Tesoro Corp. (NYSE:TSO) from an “outperform” rating to a “market perform” rating in a research note to investors on Friday. Finally, analysts at Macquarie cut their price target on shares of Tesoro Corp. (NYSE:TSO) from $65.00 to $57.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $65.33.
Shares of Tesoro Corp. (NYSE:TSO) traded up 0.96% on Friday, hitting $44.21. 3,371,763 shares of the company’s stock traded hands. Tesoro Corp. has a 52-week low of $35.28 and a 52-week high of $65.75. The stock’s 50-day moving average is $45.91 and its 200-day moving average is $52.94. The company has a market cap of $6.004 billion and a P/E ratio of 9.92.
Tesoro Corp. (NYSE:TSO) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.56 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.46 by $0.10. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter last year, the company posted $2.87 earnings per share. Tesoro Corp.’s revenue was up 21.3% compared to the same quarter last year. On average, analysts predict that Tesoro Corp. will post $4.18 earnings per share for the current fiscal year.
Tesoro Corporation (NYSE:TSO) is an independent petroleum refiners and marketers in the United States.
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