Citigroup Inc. Raises Tesoro Corp. (TSO) Price Target to $102.00
Tesoro Corp. (NYSE:TSO) had its price objective upped by Citigroup Inc. from $92.00 to $102.00 in a research report issued on Wednesday. The brokerage presently has a “buy” rating on the stock. Citigroup Inc.’s price target indicates a potential upside of 25.25% from the company’s current price.
A number of other research firms have also weighed in on TSO. Bank of America Corp. reissued a “buy” rating and set a $109.00 price target (up from $95.00) on shares of Tesoro Corp. in a research report on Monday, September 26th. Vetr raised shares of Tesoro Corp. from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 28th. Zacks Investment Research raised shares of Tesoro Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, September 22nd. Jefferies Group set a $98.00 price target on shares of Tesoro Corp. and gave the company a “buy” rating in a research report on Saturday. Finally, Piper Jaffray Cos. raised their price target on shares of Tesoro Corp. from $82.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, September 16th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $102.06.
Tesoro Corp. (NYSE:TSO) opened at 81.44 on Wednesday. The firm has a market cap of $9.73 billion, a price-to-earnings ratio of 7.62 and a beta of 2.03. The firm’s 50 day moving average is $80.30 and its 200-day moving average is $78.39. 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 released its quarterly earnings data on Wednesday, August 3rd. The company reported $3.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $1.70. Tesoro Corp. had a net margin of 5.12% and a return on equity of 20.15%. The firm had revenue of $6.29 billion for the quarter, compared to analyst estimates of $5.87 billion. During the same period last year, the firm earned $4.59 earnings per share. The business’s quarterly revenue was down 23.7% compared to the same quarter last year. On average, equities analysts forecast that Tesoro Corp. will post $5.47 EPS for the current year.
In related news, CFO Steven Sterin purchased 1,100 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was bought at an average cost of $73.93 per share, with a total value of $81,323.00. Following the completion of the acquisition, the chief financial officer now directly owns 8,152 shares in the company, valued at approximately $602,677.36. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.88% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in TSO. Vanguard Group Inc. boosted its position in Tesoro Corp. by 2.2% in the second quarter. Vanguard Group Inc. now owns 12,131,063 shares of the company’s stock worth $908,859,000 after buying an additional 258,528 shares during the period. State Street Corp increased its stake in shares of Tesoro Corp. by 2.8% in the second quarter. State Street Corp now owns 8,917,312 shares of the company’s stock worth $668,073,000 after buying an additional 243,459 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Tesoro Corp. by 10.7% in the second quarter. AQR Capital Management LLC now owns 3,507,036 shares of the company’s stock worth $262,747,000 after buying an additional 339,232 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Tesoro Corp. by 11.9% in the second quarter. Bank of New York Mellon Corp now owns 2,184,592 shares of the company’s stock worth $163,670,000 after buying an additional 233,049 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Tesoro Corp. by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,090,416 shares of the company’s stock worth $156,623,000 after buying an additional 10,433 shares in the last quarter. 88.35% of the stock is owned by institutional investors.
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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