Tesoro Corp. (TSO) Upgraded to “Outperform” by Credit Suisse Group AG
Other equities research analysts also recently issued research reports about the company. Wells Fargo & Co. restated a hold rating on shares of Tesoro Corp. in a research report on Saturday, August 6th. Goldman Sachs Group Inc. upgraded Tesoro Corp. from a neutral rating to a buy rating and boosted their target price for the stock from $96.00 to $100.00 in a research report on Wednesday, June 29th. Wolfe Research upgraded Tesoro Corp. from a market perform rating to an outperform rating in a research report on Monday, June 20th. JPMorgan Chase & Co. dropped their target price on Tesoro Corp. from $91.00 to $87.00 and set a neutral rating for the company in a research report on Friday, August 5th. Finally, Barclays PLC restated an overweight rating and set a $105.00 target price on shares of Tesoro Corp. in a research report on Tuesday, August 2nd. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Tesoro Corp. has a consensus rating of Buy and a consensus target price of $100.69.
Shares of Tesoro Corp. (NYSE:TSO) opened at 81.27 on Tuesday. The firm’s 50-day moving average price is $79.35 and its 200-day moving average price is $78.60. Tesoro Corp. has a 12 month low of $67.80 and a 12 month high of $119.67. The firm has a market capitalization of $9.71 billion, a price-to-earnings ratio of 7.61 and a beta of 2.03.
Tesoro Corp. (NYSE:TSO) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $3.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $5.87 billion. During the same quarter in the previous year, the company posted $4.59 EPS. The business’s revenue for the quarter was down 23.7% compared to the same quarter last year. On average, equities analysts anticipate that Tesoro Corp. will post $5.47 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a dividend of $0.55 per share. The ex-dividend date was Monday, August 29th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.71%. This is a positive change from Tesoro Corp.’s previous quarterly dividend of $0.50. Tesoro Corp.’s dividend payout ratio (DPR) is 20.72%.
In other news, CFO Steven Sterin bought 1,100 shares of the stock in a transaction dated Friday, August 26th. The shares were bought at an average price of $73.93 per share, for a total transaction of $81,323.00. Following the completion of the purchase, the chief financial officer now owns 8,152 shares in the company, valued at $602,677.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.88% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Tesoro Corp. by 2.2% in the second quarter. Vanguard Group Inc. now owns 12,131,063 shares of the company’s stock worth $908,859,000 after buying an additional 258,528 shares during the period. State Street Corp raised its position in shares of Tesoro Corp. by 2.8% in the second quarter. State Street Corp now owns 8,917,312 shares of the company’s stock worth $668,073,000 after buying an additional 243,459 shares during the period. AQR Capital Management LLC raised its position in shares of Tesoro Corp. by 10.7% in the second quarter. AQR Capital Management LLC now owns 3,507,036 shares of the company’s stock worth $262,747,000 after buying an additional 339,232 shares during the period. Bank of New York Mellon Corp raised its position in shares of Tesoro Corp. by 11.9% in the second quarter. Bank of New York Mellon Corp now owns 2,184,592 shares of the company’s stock worth $163,670,000 after buying an additional 233,049 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Tesoro Corp. by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,090,416 shares of the company’s stock worth $156,623,000 after buying an additional 10,433 shares during the period. Institutional investors 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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