Tesoro Corporation (NYSE:TSO)‘s stock had its “overweight” rating reaffirmed by investment analysts at Piper Jaffray Companies in a research report issued to clients and investors on Thursday, May 25th, Marketbeat reports.
Other analysts have also issued reports about the stock. US Capital Advisors reaffirmed a “buy” rating on shares of Tesoro Corporation in a research note on Monday, May 22nd. TheStreet lowered Tesoro Corporation from a “b” rating to a “c+” rating in a research report on Thursday, May 11th. Scotiabank restated a “buy” rating on shares of Tesoro Corporation in a research report on Wednesday, February 8th. J P Morgan Chase & Co raised Tesoro Corporation from a “neutral” rating to an “overweight” rating and set a $99.00 price objective for the company in a research report on Thursday, February 2nd. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Tesoro Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $106.47.
Tesoro Corporation (NYSE:TSO) opened at 92.43 on Thursday. Tesoro Corporation has a 12-month low of $69.49 and a 12-month high of $94.32. The firm has a 50-day moving average of $84.54 and a 200 day moving average of $84.21. The company has a market capitalization of $10.82 billion, a PE ratio of 15.41 and a beta of 1.76.
Tesoro Corporation (NYSE:TSO) last announced its quarterly earnings results on Monday, May 8th. The oil and gas company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.16. The company had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.46 billion. Tesoro Corporation had a net margin of 2.74% and a return on equity of 7.89%. Tesoro Corporation’s quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.19 earnings per share. Analysts forecast that Tesoro Corporation will post $5.09 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Friday, May 19th were given a $0.55 dividend. The ex-dividend date was Wednesday, May 17th. This represents a $2.20 annualized dividend and a dividend yield of 2.38%. Tesoro Corporation’s dividend payout ratio (DPR) is presently 36.85%.
In other Tesoro Corporation news, CFO Steven Sterin acquired 1,150 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were acquired at an average cost of $83.75 per share, for a total transaction of $96,312.50. Following the completion of the purchase, the chief financial officer now owns 9,942 shares of the company’s stock, valued at approximately $832,642.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Lilley bought 500 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were purchased at an average cost of $83.16 per share, for a total transaction of $41,580.00. Following the completion of the transaction, the director now owns 15,134 shares of the company’s stock, valued at $1,258,543.44. The disclosure for this purchase can be found here. Company insiders own 0.86% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC increased its stake in 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 worth $2,944,000 after buying an additional 641 shares during the last quarter. Achmea Investment Management B.V. acquired a new position in shares of Tesoro Corporation during the first quarter valued at approximately $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 during 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 during 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 during the last quarter. 91.92% of the stock is currently owned by institutional investors.
About Tesoro Corporation
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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