Tesoro Corp. (TSO) Debt Trading 0.9% Lower
An issue of Tesoro Corp. (NYSE:TSO) debt fell 0.9% as a percentage of its face value during trading on Tuesday. The high-yield issue of debt has a 4.25% coupon and will mature on October 1, 2017. The bonds in the issue are now trading at $101.68. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.
A number of equities research analysts have weighed in on TSO shares. Mizuho upped their target price on Tesoro Corp. from $67.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, July 5th. Barclays PLC upgraded Tesoro Corp. from a “neutral” rating to a “buy” rating and upped their target price for the stock from $96.00 to $100.00 in a research report on Thursday, June 30th. Goldman Sachs Group Inc. upgraded Tesoro Corp. from a “neutral” rating to a “buy” rating and upped their target price for the stock from $96.00 to $100.00 in a research report on Wednesday, June 29th. Cowen and Company reiterated a “buy” rating on shares of Tesoro Corp. in a research report on Wednesday, June 1st. Finally, Citigroup Inc. upgraded Tesoro Corp. from a “neutral” rating to a “buy” rating and cut their price objective for the company from $92.50 to $92.00 in a research report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $101.13.
Tesoro Corp. (NYSE:TSO) opened at 81.02 on Wednesday. The stock has a 50 day moving average of $77.02 and a 200-day moving average of $79.30. The firm has a market capitalization of $9.68 billion, a P/E ratio of 7.58 and a beta of 2.10. Tesoro Corp. has a 1-year low of $67.80 and a 1-year high of $119.67.
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Tesoro Corp. (NYSE:TSO) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $3.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $1.70. The company had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $5.87 billion. Tesoro Corp. had a net margin of 5.12% and a return on equity of 20.15%. The business’s quarterly revenue was down 23.7% compared to the same quarter last year. During the same period last year, the firm posted $4.59 earnings per share. On average, equities research analysts anticipate that Tesoro Corp. will post $5.46 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.72%. This is a boost from Tesoro Corp.’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, August 29th. Tesoro Corp.’s dividend payout ratio (DPR) is currently 20.72%.
In related news, CFO Steven Sterin acquired 1,100 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The shares were acquired at an average cost of $73.93 per share, with a total value of $81,323.00. Following the transaction, the chief financial officer now owns 8,152 shares of the company’s stock, valued at approximately $602,677.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.88% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Ngam Advisors L.P. boosted its stake in Tesoro Corp. by 53.7% in the first quarter. Ngam Advisors L.P. now owns 19,558 shares of the company’s stock valued at $1,682,000 after buying an additional 6,837 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Tesoro Corp. by 7.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 551,561 shares of the company’s stock valued at $47,440,000 after buying an additional 36,013 shares in the last quarter. Pacad Investment Ltd. boosted its stake in Tesoro Corp. by 161.8% in the first quarter. Pacad Investment Ltd. now owns 67,500 shares of the company’s stock valued at $5,806,000 after buying an additional 41,716 shares in the last quarter. Bowling Portfolio Management LLC boosted its stake in Tesoro Corp. by 63.6% in the first quarter. Bowling Portfolio Management LLC now owns 55,386 shares of the company’s stock valued at $4,764,000 after buying an additional 21,540 shares in the last quarter. Finally, Virginia Retirement System bought a new stake in Tesoro Corp. during the first quarter valued at approximately $12,674,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.
Tesoro Corp. Company Profile
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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