Tesoro Corp. (TSO) Given Overweight Rating at Barclays PLC
Tesoro Corp. (NYSE:TSO)‘s stock had its “overweight” rating reiterated by investment analysts at Barclays PLC in a research report issued on Monday. They currently have a $105.00 price target on the stock, up from their prior price target of $100.00. Barclays PLC’s target price would suggest a potential upside of 30.74% from the stock’s current price.
A number of other research analysts have also recently issued reports on the company. Wells Fargo & Co. reiterated a “hold” rating on shares of Tesoro Corp. in a research report on Sunday, July 10th. Simmons reiterated an “overweight” rating and issued a $82.00 target price (up previously from $78.00) on shares of Tesoro Corp. in a research report on Monday, August 8th. Wolfe Research upgraded Tesoro Corp. from a “market perform” rating to an “outperform” rating in a research report on Monday, June 20th. Zacks Investment Research upgraded Tesoro Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 22nd. Finally, Bank of America Corp. restated a “buy” rating and set a $109.00 price target (up from $95.00) on shares of Tesoro Corp. in a report on Monday, September 26th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $100.69.
Tesoro Corp. (NYSE:TSO) traded up 0.41% during mid-day trading on Monday, reaching $80.31. The company had a trading volume of 1,388,560 shares. The firm has a market capitalization of $9.60 billion, a P/E ratio of 7.52 and a beta of 2.03. Tesoro Corp. has a one year low of $67.80 and a one year high of $119.67. The firm’s 50-day moving average is $79.15 and its 200-day moving average is $78.58.
Tesoro Corp. (NYSE:TSO) last released its earnings results on Wednesday, August 3rd. The company reported $3.47 earnings per share (EPS) for the quarter, beating the Zacks’ 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 had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $5.87 billion. During the same quarter in the previous year, the business posted $4.59 earnings per share. The business’s revenue for the quarter was down 23.7% on a year-over-year basis. On average, equities research analysts anticipate that Tesoro Corp. will post $5.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a dividend of $0.55 per share. The ex-dividend date was Monday, August 29th. This represents a $2.20 annualized dividend and a yield of 2.74%. This is an increase from Tesoro Corp.’s previous quarterly dividend of $0.50. Tesoro Corp.’s dividend payout ratio is 20.72%.
In related news, CFO Steven Sterin purchased 1,100 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The stock was acquired at an average price of $73.93 per share, for a total transaction of $81,323.00. Following the completion of the acquisition, the chief financial officer now owns 8,152 shares of the company’s stock, valued at approximately $602,677.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.88% of the company’s stock.
Large investors have recently made changes to their positions in the company. Signaturefd LLC increased its position 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 during the period. Acrospire Investment Management LLC acquired a new position in shares of Tesoro Corp. during the first quarter worth about $103,000. Zions Bancorporation increased its position 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 during the period. Advisor Group Inc. acquired a new position in shares of Tesoro Corp. during the second quarter worth about $118,000. Finally, Daiwa SB Investments Ltd. increased its position 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 during the period. Institutional investors and hedge funds own 88.41% of the company’s stock.
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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