Tesoro Corp. (TSO) Raised to Outperform at Credit Suisse Group AG
Tesoro Corp. (NYSE:TSO) was upgraded by research analysts at Credit Suisse Group AG to an “outperform” rating in a report released on Tuesday.
Several other research analysts have also issued reports on TSO. Wolfe Research raised Tesoro Corp. from a “market perform” rating to an “outperform” rating in a research report on Monday, June 20th. Goldman Sachs Group Inc. raised Tesoro Corp. from a “neutral” rating to a “buy” rating and raised their target price for the stock from $96.00 to $100.00 in a research report on Wednesday, June 29th. Barclays PLC raised Tesoro Corp. from a “neutral” rating to a “buy” rating and raised their target price for the stock from $96.00 to $100.00 in a research report on Thursday, June 30th. Simmons lowered their target price on Tesoro Corp. from $88.00 to $87.00 and set an “overweight” rating for the company in a research report on Friday, July 1st. Finally, Mizuho raised 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. Five equities research 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. Tesoro Corp. currently has an average rating of “Buy” and an average target price of $100.69.
Tesoro Corp. (NYSE:TSO) opened at 80.31 on Tuesday. Tesoro Corp. has a 52-week low of $67.80 and a 52-week high of $119.67. The firm has a market capitalization of $9.60 billion, a PE ratio of 7.52 and a beta of 2.03. The stock’s 50 day moving average price is $79.15 and its 200 day moving average price is $78.58.
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Tesoro Corp. (NYSE:TSO) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $3.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $1.70. Tesoro Corp. had a return on equity of 20.15% and a net margin of 5.12%. The company had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $5.87 billion. During the same quarter last year, the business posted $4.59 EPS. Tesoro Corp.’s revenue for the quarter was down 23.7% on a year-over-year basis. On average, analysts predict that Tesoro Corp. will post $5.47 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Monday, August 29th. This is an increase from Tesoro Corp.’s previous quarterly dividend of $0.50. Tesoro Corp.’s payout ratio is presently 20.72%.
In other Tesoro Corp. news, CFO Steven Sterin bought 1,100 shares of the business’s stock in a transaction dated Friday, August 26th. The shares were purchased at an average price of $73.93 per share, for a total transaction of $81,323.00. Following the purchase, the chief financial officer now directly owns 8,152 shares of the company’s stock, valued at $602,677.36. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.88% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. 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 during the last quarter. Acrospire Investment Management LLC acquired a new position in shares of Tesoro Corp. during the first quarter worth $103,000. Zions Bancorporation increased its position in shares of Tesoro Corp. by 2,912.2% in the first quarter. Zions Bancorporation now owns 1,235 shares of the company’s stock worth $106,000 after buying an additional 1,194 shares during the last quarter. Advisor Group Inc. acquired a new position in shares of Tesoro Corp. during the second quarter worth $118,000. Finally, Daiwa SB Investments Ltd. increased its position in shares of Tesoro Corp. by 8.0% in the second quarter. Daiwa SB Investments Ltd. now owns 1,620 shares of the company’s stock worth $122,000 after buying an additional 120 shares during the last quarter. Hedge funds and other 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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