Tesoro Corp. (TSO) Upgraded to “Strong-Buy” by Vetr Inc.
Vetr upgraded shares of Tesoro Corp. (NYSE:TSO) from a buy rating to a strong-buy rating in a report issued on Wednesday morning.
Several other equities analysts have also commented on TSO. Jefferies Group initiated coverage on shares of Tesoro Corp. in a report on Tuesday, August 23rd. They issued a buy rating and a $101.00 price objective on the stock. Piper Jaffray Cos. upped their price objective on shares of Tesoro Corp. from $82.00 to $92.00 and gave the stock an overweight rating in a report on Friday, September 16th. Wells Fargo & Co. restated a hold rating on shares of Tesoro Corp. in a report on Sunday, July 10th. Cowen and Company restated a buy rating on shares of Tesoro Corp. in a report on Wednesday, June 1st. Finally, Zacks Investment Research upgraded shares of Tesoro Corp. from a sell rating to a hold rating in a report on Thursday, September 22nd. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Tesoro Corp. currently has an average rating of Buy and an average target price of $100.69.
Tesoro Corp. (NYSE:TSO) traded down 4.08% during trading on Wednesday, reaching $79.48. 1,144,094 shares of the company’s stock traded hands. The company has a market cap of $9.50 billion, a PE ratio of 7.44 and a beta of 2.10. Tesoro Corp. has a 12-month low of $67.80 and a 12-month high of $119.67. The company has a 50 day moving average price of $78.22 and a 200-day moving average price of $79.18.
Tesoro Corp. (NYSE:TSO) last posted its earnings results on Wednesday, August 3rd. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $1.77 by $1.70. The company 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 was down 23.7% on a year-over-year basis. During the same period in the previous year, the business posted $4.59 EPS. On average, equities research analysts forecast that Tesoro Corp. will post $5.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.55 per share. The ex-dividend date was Monday, August 29th. This is an increase from Tesoro Corp.’s previous quarterly dividend of $0.50. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.66%. Tesoro Corp.’s payout ratio is 20.72%.
In other news, CFO Steven Sterin purchased 1,100 shares of the stock in a transaction dated Friday, August 26th. The stock was acquired at an average cost of $73.93 per share, for a total transaction of $81,323.00. Following the completion of the acquisition, the chief financial officer now directly owns 8,152 shares in the company, valued at approximately $602,677.36. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.88% of the company’s stock.
Large investors have recently modified their holdings of the company. Point72 Asset Management L.P. increased its stake in shares of Tesoro Corp. by 3,869.5% in the second quarter. Point72 Asset Management L.P. now owns 1,667,197 shares of the company’s stock worth $124,906,000 after buying an additional 1,625,197 shares during the period. Ameriprise Financial Inc. increased its stake in Tesoro Corp. by 108.5% in the second quarter. Ameriprise Financial Inc. now owns 1,809,715 shares of the company’s stock worth $135,582,000 after buying an additional 941,803 shares during the last quarter. Prudential Financial Inc. increased its stake in Tesoro Corp. by 82.4% in the second quarter. Prudential Financial Inc. now owns 1,678,918 shares of the company’s stock worth $125,784,000 after buying an additional 758,525 shares during the last quarter. Key Group Holdings Cayman LTD. increased its stake in Tesoro Corp. by 276.0% in the second quarter. Key Group Holdings Cayman LTD. now owns 993,398 shares of the company’s stock worth $74,425,000 after buying an additional 729,228 shares during the last quarter. Finally, Third Point LLC bought a new stake in Tesoro Corp. during the second quarter worth about $48,698,000. Institutional investors and hedge funds own 88.41% 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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