Tesoro Corp. (TSO) Given Average Rating of “Buy” by Analysts
Tesoro Corp. (NYSE:TSO) has earned a consensus recommendation of “Buy” from the twenty brokerages that are currently covering the stock. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $100.79.
A number of brokerages recently weighed in on TSO. Mizuho boosted their price target on shares of Tesoro Corp. from $67.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, July 5th. Wells Fargo & Co. reissued a “hold” rating on shares of Tesoro Corp. in a report on Saturday, August 6th. Piper Jaffray Cos. boosted their price target on shares of Tesoro Corp. from $82.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, September 16th. Citigroup Inc. upgraded Tesoro Corp. from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $92.50 to $92.00 in a research note on Tuesday, July 19th. Finally, JPMorgan Chase & Co. lowered their price objective on Tesoro Corp. from $91.00 to $87.00 and set a “neutral” rating on the stock in a research note on Friday, August 5th.
Tesoro Corp. (NYSE:TSO) traded up 0.50% during midday trading on Tuesday, hitting $80.71. 1,108,096 shares of the stock were exchanged. The company has a market capitalization of $9.64 billion, a P/E ratio of 7.55 and a beta of 2.03. The company’s 50 day moving average is $79.15 and its 200 day moving average is $78.58. 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 issued its quarterly earnings results on Wednesday, August 3rd. The company reported $3.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.77 by $1.70. The company had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $5.87 billion. Tesoro Corp. had a net margin of 5.12% and a return on equity of 20.15%. The firm’s quarterly revenue was down 23.7% on a year-over-year basis. During the same period in the previous year, the firm earned $4.59 EPS. Analysts predict that Tesoro Corp. will post $5.47 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Monday, August 29th. This is a positive change from Tesoro Corp.’s previous quarterly dividend of $0.50. Tesoro Corp.’s dividend payout ratio is 20.72%.
In related news, CFO Steven Sterin acquired 1,100 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was purchased at an average price of $73.93 per share, with a total value of $81,323.00. Following the completion of the purchase, the chief financial officer now owns 8,152 shares in the company, valued at approximately $602,677.36. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.88% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Signaturefd LLC increased its position in shares of Tesoro Corp. by 1.4% in the second quarter. Signaturefd LLC now owns 1,351 shares of the company’s stock worth $101,000 after buying an additional 18 shares in the last quarter. Cleararc Capital Inc. increased its position in shares of Tesoro Corp. by 0.8% in the second quarter. Cleararc Capital Inc. now owns 2,931 shares of the company’s stock worth $220,000 after buying an additional 24 shares in the last quarter. Ifrah Financial Services Inc. increased its position in shares of Tesoro Corp. by 1.1% in the second quarter. Ifrah Financial Services Inc. now owns 5,629 shares of the company’s stock worth $422,000 after buying an additional 61 shares in the last quarter. Advantus Capital Management Inc increased its position in shares of Tesoro Corp. by 0.9% in the second quarter. Advantus Capital Management Inc now owns 11,699 shares of the company’s stock worth $876,000 after buying an additional 103 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Tesoro Corp. by 1.2% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 9,194 shares of the company’s stock worth $688,000 after buying an additional 110 shares in the last quarter. Institutional investors own 88.41% of the company’s stock.
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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