Tesoro Co. (TSO) Research Coverage Started at Piper Jaffray Companies
Investment analysts at Piper Jaffray Companies started coverage on shares of Tesoro Co. (NYSE:TSO) in a report issued on Thursday. The firm set an “overweight” rating on the oil and gas company’s stock.
Several other equities research analysts have also commented on TSO. Scotiabank restated a “buy” rating and set a $91.00 price target on shares of Tesoro in a research note on Monday, March 27th. Credit Suisse Group AG reissued a “buy” rating on shares of Tesoro in a report on Wednesday, February 8th. Citigroup Inc reissued a “buy” rating and issued a $104.00 price target (down previously from $109.00) on shares of Tesoro in a report on Saturday, April 22nd. Jefferies Group LLC set a $94.00 price target on Tesoro and gave the company a “buy” rating in a report on Wednesday, April 19th. Finally, US Capital Advisors reissued a “buy” rating on shares of Tesoro in a report on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $102.29.
Tesoro (NYSE:TSO) traded up 2.3555% on Thursday, reaching $85.0472. The company had a trading volume of 556,654 shares. The company’s 50-day moving average is $80.50 and its 200-day moving average is $83.80. The company has a market capitalization of $9.96 billion, a PE ratio of 14.1769 and a beta of 1.69. Tesoro has a 52-week low of $69.49 and a 52-week high of $93.06.
Tesoro (NYSE:TSO) last released its quarterly earnings results on Monday, May 8th. The oil and gas company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.16. Tesoro had a return on equity of 9.07% and a net margin of 2.99%. The company had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.46 billion. During the same period in the previous year, the firm posted $1.19 earnings per share. The business’s revenue for the quarter was up 30.1% compared to the same quarter last year. Equities analysts anticipate that Tesoro will post $5.16 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Friday, May 19th will be paid a dividend of $0.55 per share. The ex-dividend date is Wednesday, May 17th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.65%. Tesoro’s dividend payout ratio is 35.95%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Tesoro by 2,273.3% in the first quarter. BlackRock Inc. now owns 8,913,506 shares of the oil and gas company’s stock valued at $722,530,000 after buying an additional 8,537,930 shares in the last quarter. Norges Bank acquired a new position in shares of Tesoro during the fourth quarter worth about $137,830,000. Boston Partners raised its position in shares of Tesoro by 42.4% in the first quarter. Boston Partners now owns 4,574,824 shares of the oil and gas company’s stock worth $370,835,000 after buying an additional 1,361,943 shares during the last quarter. Artisan Partners Limited Partnership acquired a new position in shares of Tesoro during the fourth quarter worth about $115,598,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Tesoro during the fourth quarter worth about $85,395,000. 87.89% of the stock is currently owned by hedge funds and other institutional investors.
Tesoro Company Profile
Tesoro Corporation (Tesoro) is an independent petroleum refining, logistics and marketing company. he Company operates through three segments. The Refining operating segment refines crude oil and other feedstocks into transportation fuels, such as gasoline and gasoline blendstocks, jet fuel and diesel fuel, as well as other products, including heavy fuel oils, liquefied petroleum gas and petroleum coke for sale in bulk markets to a range of customers within its markets.
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