Tesoro Corp. (TSO) Stock Rating Reaffirmed by Bank of America Corp.
Tesoro Corp. (NYSE:TSO)‘s stock had its “buy” rating reiterated by stock analysts at Bank of America Corp. in a research note issued to investors on Monday. They currently have a $109.00 price target on the stock, up from their previous price target of $95.00. Bank of America Corp.’s price target suggests a potential upside of 31.50% from the company’s current price.
Several other research firms have also issued reports on TSO. Wells Fargo & Co. restated a “hold” rating on shares of Tesoro Corp. in a research note on Saturday, August 6th. Cowen and Company restated a “buy” rating on shares of Tesoro Corp. in a research note on Wednesday, June 1st. JPMorgan Chase & Co. dropped their price objective on Tesoro Corp. from $100.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, June 10th. Zacks Investment Research upgraded Tesoro Corp. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 8th. Finally, Scotiabank upgraded Tesoro Corp. from a “sector perform” rating to an “outperform” rating and dropped their price objective for the company from $105.00 to $93.00 in a research note on Monday, July 11th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $100.69.
Shares of Tesoro Corp. (NYSE:TSO) opened at 82.89 on Monday. Tesoro Corp. has a 52 week low of $67.80 and a 52 week high of $119.67. The firm has a market cap of $9.91 billion, a price-to-earnings ratio of 7.76 and a beta of 2.10. The company has a 50-day moving average price of $78.04 and a 200 day moving average price of $79.16.
Tesoro Corp. (NYSE:TSO) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $3.47 EPS for the quarter, beating the consensus estimate of $1.77 by $1.70. Tesoro Corp. had a return on equity of 20.15% and a net margin of 5.12%. The firm earned $6.29 billion during the quarter, compared to analysts’ expectations of $5.87 billion. During the same period in the prior year, the firm posted $4.59 earnings per share. The business’s quarterly revenue was down 23.7% compared to the same quarter last year. Analysts expect that Tesoro Corp. will post $5.55 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Monday, August 29th. This is an increase from Tesoro Corp.’s previous quarterly dividend of $0.50. Tesoro Corp.’s dividend payout ratio (DPR) is currently 20.72%.
In other Tesoro Corp. news, CFO Steven Sterin bought 1,100 shares of Tesoro Corp. stock in a transaction on Friday, August 26th. The shares were purchased at an average price of $73.93 per share, with a total value of $81,323.00. Following the acquisition, the chief financial officer now owns 8,152 shares in the company, valued at approximately $602,677.36. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.88% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of TSO. Signaturefd LLC increased its stake in shares of Tesoro Corp. by 1.4% in the second quarter. Signaturefd LLC now owns 1,351 shares of the company’s stock worth $101,000 after buying an additional 18 shares in the last quarter. Acrospire Investment Management LLC acquired a new stake in shares of Tesoro Corp. during the first quarter worth $103,000. Zions Bancorporation increased its stake in shares of Tesoro Corp. by 2,912.2% in the first quarter. Zions Bancorporation now owns 1,235 shares of the company’s stock worth $106,000 after buying an additional 1,194 shares in the last quarter. Advisor Group Inc. acquired a new stake in shares of Tesoro Corp. during the second quarter worth $118,000. Finally, Daiwa SB Investments Ltd. increased its stake in shares of Tesoro Corp. by 8.0% in the second quarter. Daiwa SB Investments Ltd. now owns 1,620 shares of the company’s stock worth $122,000 after buying an additional 120 shares in the last quarter. 88.41% of the stock is currently owned by hedge funds and other 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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