Tesoro Corp. (TSO) PT Set at $98.00 by Jefferies Group
Tesoro Corp. (NYSE:TSO) has been given a $98.00 price target by equities research analysts at Jefferies Group in a report issued on Saturday. The firm presently has a a “buy” rating on the stock. Jefferies Group’s price objective indicates a potential upside of 20.01% from the stock’s previous close.
A number of other research firms have also recently weighed in on TSO. Bank of America Corp. reissued a “buy” rating and issued a $109.00 price objective (up previously from $95.00) on shares of Tesoro Corp. in a research report on Monday, September 26th. Vetr raised Tesoro Corp. from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 28th. Zacks Investment Research raised Tesoro Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, September 22nd. Piper Jaffray Cos. raised their price objective on Tesoro Corp. from $82.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, September 16th. Finally, Barclays PLC reissued an “overweight” rating and issued a $105.00 price objective (up previously from $100.00) on shares of Tesoro Corp. in a research report on Monday, October 10th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $101.44.
Shares of Tesoro Corp. (NYSE:TSO) traded down 0.12% during mid-day trading on Friday, reaching $81.66. The company’s stock had a trading volume of 1,410,919 shares. The firm has a market cap of $9.76 billion, a P/E ratio of 7.64 and a beta of 2.03. The firm’s 50-day moving average price is $79.89 and its 200 day moving average price is $78.58. Tesoro Corp. has a 12-month low of $67.80 and a 12-month 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 (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $5.87 billion. During the same period last year, the business posted $4.59 EPS. The business’s revenue was down 23.7% compared to the same quarter last year. On average, analysts expect that Tesoro Corp. will post $5.47 EPS for the current year.
In other news, CFO Steven Sterin acquired 1,100 shares of the business’s stock in a transaction on Friday, August 26th. The stock was bought at an average cost of $73.93 per share, for a total transaction of $81,323.00. Following the purchase, the chief financial officer now owns 8,152 shares in the company, valued at $602,677.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Point72 Asset Management L.P. raised its stake in Tesoro Corp. by 3,869.5% in the second quarter. Point72 Asset Management L.P. now owns 1,667,197 shares of the company’s stock valued at $124,906,000 after buying an additional 1,625,197 shares during the period. Norges Bank purchased a new stake in Tesoro Corp. during the fourth quarter valued at approximately $111,261,000. Ameriprise Financial Inc. raised its stake in Tesoro Corp. by 108.5% in the second quarter. Ameriprise Financial Inc. now owns 1,809,715 shares of the company’s stock valued at $135,582,000 after buying an additional 941,803 shares during the period. Prudential Financial Inc. raised its stake in Tesoro Corp. by 82.4% in the second quarter. Prudential Financial Inc. now owns 1,678,918 shares of the company’s stock valued at $125,784,000 after buying an additional 758,525 shares during the period. Finally, Key Group Holdings Cayman LTD. raised its stake in Tesoro Corp. by 276.0% in the second quarter. Key Group Holdings Cayman LTD. now owns 993,398 shares of the company’s stock valued at $74,425,000 after buying an additional 729,228 shares during the period. Institutional investors own 88.41% of the company’s stock.
About Tesoro Corp.
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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