Tesoro Corp. Rating Reiterated by Zacks (TSO)
Tesoro Corp. (NYSE:TSO)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Monday. They currently have a $63.00 target price on the stock. Zacks‘s price objective indicates a potential upside of 5.70% from the company’s current price.
Zacks’ analyst wrote, “We are maintaining our Neutral recommendation on Tesoro Corporation shares. In an effort to tighten fuel emission norms, the EPA has proposed new gasoline standards, asking refiners to significantly curb sulfur content in gasoline starting from 2017. Complying with the new rules is expected to push up capital expenditures for downstream operators like Tesoro. The company is also faced with volatile industry fundamentals and limited geographic diversification, which may further limit its ability to generate positive earnings surprises. Partially offsetting these negatives are the scale and diversification benefits afforded by Tesoro’s portfolio of six refineries, benefits from the recent acquisition of BP’s Southern California refinery and a shareholder friendly financial policy.”
Shares of Tesoro Corp. (NYSE:TSO) traded down 1.07% during mid-day trading on Monday, hitting $58.96. 739,921 shares of the company’s stock traded hands. Tesoro Corp. has a 1-year low of $40.90 and a 1-year high of $62.89. The stock has a 50-day moving average of $56.99 and a 200-day moving average of $53.9. The company has a market cap of $7.741 billion and a P/E ratio of 20.48.
Tesoro Corp. (NYSE:TSO) last announced its earnings results on Wednesday, April 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.21. The company had revenue of $125.05 billion for the quarter, compared to the consensus estimate of $8.71 billion. On average, analysts predict that Tesoro Corp. will post $5.35 earnings per share for the current fiscal year.
A number of other firms have also recently commented on TSO. Analysts at Simmons upgraded shares of Tesoro Corp. from a “neutral” rating to an “overweight” rating in a research note on Friday, May 2nd. Analysts at Macquarie cut their price target on shares of Tesoro Corp. from $64.00 to $62.00 in a research note on Monday, April 7th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $69.30.
Tesoro Corporation (NYSE:TSO) is an independent petroleum refiners and marketers in the United States.
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