Tesoro Corporation (NYSE:TSO) was downgraded by research analysts at TheStreet from a “b” rating to a “c+” rating in a research report issued to clients and investors on Thursday, May 11th.
A number of other research firms have also recently commented on TSO. Piper Jaffray Companies set a $102.00 target price on Tesoro Corporation and gave the stock a “buy” rating in a research report on Wednesday, February 8th. Credit Suisse Group restated a “buy” rating on shares of Tesoro Corporation in a research report on Wednesday, February 8th. Scotiabank restated a “buy” rating on shares of Tesoro Corporation in a research report on Wednesday, February 8th. Simmons dropped their price target on Tesoro Corporation from $103.00 to $102.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 8th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $99.00 price objective on shares of Tesoro Corporation in a report on Wednesday, February 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Tesoro Corporation presently has a consensus rating of “Buy” and an average price target of $106.47.
Shares of Tesoro Corporation (NYSE TSO) opened at 92.43 on Thursday. The firm’s 50-day moving average price is $84.54 and its 200 day moving average price is $84.21. The stock has a market cap of $10.82 billion, a P/E ratio of 15.41 and a beta of 1.76. Tesoro Corporation has a 1-year low of $69.49 and a 1-year high of $94.32.
Tesoro Corporation (NYSE:TSO) last posted its earnings results on Monday, May 8th. The oil and gas company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.16. Tesoro Corporation had a return on equity of 7.89% and a net margin of 2.74%. The business had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.46 billion. During the same quarter in the previous year, the firm earned $1.19 earnings per share. The business’s revenue was up 30.1% compared to the same quarter last year. On average, equities analysts expect that Tesoro Corporation will post $5.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Friday, May 19th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $2.20 annualized dividend and a dividend yield of 2.38%. Tesoro Corporation’s dividend payout ratio is currently 36.85%.
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In related news, Director David Lilley acquired 500 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was purchased at an average cost of $83.16 per share, for a total transaction of $41,580.00. Following the transaction, the director now directly owns 15,134 shares of the company’s stock, valued at approximately $1,258,543.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Steven Sterin acquired 1,150 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were bought at an average price of $83.75 per share, with a total value of $96,312.50. Following the completion of the transaction, the chief financial officer now directly owns 9,942 shares in the company, valued at $832,642.50. The disclosure for this purchase can be found here. Insiders own 0.86% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Piedmont Investment Advisors LLC increased its position in shares of Tesoro Corporation by 1.8% in the first quarter. Piedmont Investment Advisors LLC now owns 36,314 shares of the oil and gas company’s stock valued at $2,944,000 after buying an additional 641 shares in the last quarter. Achmea Investment Management B.V. bought a new position in shares of Tesoro Corporation during the first quarter valued at about $2,567,000. Bank of Nova Scotia increased its position in shares of Tesoro Corporation by 2,625.4% in the first quarter. Bank of Nova Scotia now owns 229,536 shares of the oil and gas company’s stock valued at $18,606,000 after buying an additional 221,114 shares in the last quarter. Summit Global Investments increased its position in shares of Tesoro Corporation by 15.7% in the first quarter. Summit Global Investments now owns 6,807 shares of the oil and gas company’s stock valued at $552,000 after buying an additional 925 shares in the last quarter. Finally, RBF Capital LLC increased its position in shares of Tesoro Corporation by 140.0% in the first quarter. RBF Capital LLC now owns 60,000 shares of the oil and gas company’s stock valued at $4,864,000 after buying an additional 35,000 shares in the last quarter. Hedge funds and other institutional investors own 91.92% of the company’s stock.
Tesoro Corporation 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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