Tesoro Corp. (TSO) Price Target Raised to $102.00 at Citigroup Inc.
Tesoro Corp. (NYSE:TSO) had its price objective hoisted by stock analysts at Citigroup Inc. from $92.00 to $102.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has a “buy” rating on the stock. Citigroup Inc.’s price objective points to a potential upside of 25.25% from the stock’s previous close.
Other analysts have also issued research reports about the stock. Barclays PLC upgraded shares of Tesoro Corp. from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $96.00 to $100.00 in a research note on Thursday, June 30th. Goldman Sachs Group Inc. upgraded shares of Tesoro Corp. from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $96.00 to $100.00 in a research note on Wednesday, June 29th. Mizuho increased their price objective on shares of Tesoro Corp. from $67.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, July 5th. Jefferies Group started coverage on shares of Tesoro Corp. in a research note on Tuesday, August 23rd. They issued a “buy” rating and a $101.00 price objective on the stock. Finally, Bank of America Corp. reiterated a “buy” rating and issued a $109.00 price objective (up previously from $95.00) on shares of Tesoro Corp. in a research note on Monday, September 26th. Five 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. Tesoro Corp. has an average rating of “Buy” and a consensus target price of $102.06.
Shares of Tesoro Corp. (NYSE:TSO) opened at 81.44 on Wednesday. Tesoro Corp. has a one year low of $67.80 and a one year high of $119.67. The company has a market capitalization of $9.73 billion, a P/E ratio of 7.62 and a beta of 2.03. The firm has a 50-day moving average of $80.30 and a 200-day moving average of $78.39.
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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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.77 by $1.70. The business had revenue of $6.29 billion for the quarter, compared to analyst estimates of $5.87 billion. Tesoro Corp. had a net margin of 5.12% and a return on equity of 20.15%. Tesoro Corp.’s revenue for the quarter was down 23.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.59 EPS. Analysts forecast that Tesoro Corp. will post $5.47 earnings per share for the current year.
In other Tesoro Corp. news, CFO Steven Sterin acquired 1,100 shares of Tesoro Corp. stock in a transaction on Friday, August 26th. The shares were bought 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 $602,677.36. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.88% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Viking Fund Management LLC increased its stake in Tesoro Corp. by 21.4% in the third quarter. Viking Fund Management LLC now owns 255,000 shares of the company’s stock worth $20,288,000 after buying an additional 45,000 shares during the last quarter. Hancock Holding Co. increased its stake in Tesoro Corp. by 0.6% in the first quarter. Hancock Holding Co. now owns 24,296 shares of the company’s stock worth $2,090,000 after buying an additional 155 shares during the last quarter. National Pension Service increased its stake in Tesoro Corp. by 4.9% in the first quarter. National Pension Service now owns 86,184 shares of the company’s stock worth $7,413,000 after buying an additional 4,000 shares during the last quarter. First Republic Investment Management Inc. increased its stake in Tesoro Corp. by 136.7% in the first quarter. First Republic Investment Management Inc. now owns 7,779 shares of the company’s stock worth $669,000 after buying an additional 4,493 shares during the last quarter. Finally, Boston Advisors LLC increased its stake in Tesoro Corp. by 2.2% in the second quarter. Boston Advisors LLC now owns 272,616 shares of the company’s stock worth $20,424,000 after buying an additional 5,971 shares during the last quarter. Institutional investors own 88.35% 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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