Tesoro Corp. Price Target Cut to $60.00 (TSO)
Stock analysts at Credit Suisse lowered their price objective on shares of Tesoro Corp. (NYSE:TSO) from $65.00 to $60.00 in a report issued on Wednesday, ARN reports. The firm currently has an “outperform” rating on the stock. Credit Suisse’s target price suggests a potential upside of 44.44% from the company’s current price.
Shares of Tesoro Corp. (NYSE:TSO) traded down 0.26% on Wednesday, hitting $41.54. 4,070,802 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 has a 50-day moving average of $45.65 and a 200-day moving average of $52.68. The company has a market cap of $5.641 billion and a P/E ratio of 9.44. Tesoro Corp. also was the target of unusually large options trading activity on Tuesday. Stock investors bought 17,400 put options on the stock. This represents an increase of 356% compared to the typical volume of 3,814 put options.
Tesoro Corp. (NYSE:TSO) last announced its earnings results on Thursday, August 1st. The company reported $1.56 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $2.87 earnings per share. The company’s quarterly revenue was up 21.3% on a year-over-year basis. Analysts expect that Tesoro Corp. will post $3.76 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays Capital cut their price target on shares of Tesoro Corp. from $120.00 to $100.00 in a research note to investors on Tuesday. They now have an “overweight” rating on the stock. Separately, analysts at Imperial Capital cut their price target on shares of Tesoro Corp. from $65.00 to $59.00 in a research note to investors on Friday, October 4th. They now have an “outperform” rating on the stock. Finally, analysts at Oppenheimer downgraded shares of Tesoro Corp. from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, October 4th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Tesoro Corp. currently has a consensus rating of “Buy” and a consensus target price of $63.25.
Tesoro Corporation (NYSE:TSO) is an independent petroleum refiners and marketers in the United States.
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