Tesoro Corp. Expected to Earn FY2017 Earnings of $6.04 Per Share (TSO)
Tesoro Corp. (NYSE:TSO) – Equities researchers at Jefferies Group cut their FY2017 earnings per share (EPS) estimates for shares of Tesoro Corp. in a report issued on Thursday. Jefferies Group analyst C. Goldman now anticipates that the brokerage will post earnings of $6.04 per share for the year, down from their previous forecast of $6.15. Jefferies Group has a “Buy” rating and a $101.00 price objective on the stock.
A number of other equities analysts also recently commented on TSO. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Tesoro Corp. in a research note on Saturday, August 6th. Goldman Sachs Group Inc. raised shares of Tesoro Corp. from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $96.00 to $100.00 in a research note on Wednesday, June 29th. Wolfe Research raised shares of Tesoro Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, June 20th. JPMorgan Chase & Co. reduced their target price on shares of Tesoro Corp. from $91.00 to $87.00 and set a “neutral” rating on the stock in a research note on Friday, August 5th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $105.00 target price on shares of Tesoro Corp. in a research note on Tuesday, August 2nd. Five research 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 stock. The stock has an average rating of “Buy” and a consensus price target of $101.63.
Shares of Tesoro Corp. (NYSE:TSO) opened at 81.66 on Friday. The stock has a market cap of $9.76 billion, a PE ratio of 7.64 and a beta of 2.03. The stock has a 50 day moving average of $79.89 and a 200 day moving average of $78.58. Tesoro Corp. has a 12 month low of $67.80 and a 12 month high of $119.67.
Tesoro Corp. (NYSE:TSO) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $1.77 by $1.70. Tesoro Corp. had a net margin of 5.12% and a return on equity of 20.15%. The firm earned $6.29 billion during the quarter, compared to analysts’ expectations of $5.87 billion. During the same quarter in the prior year, the company earned $4.59 EPS. The company’s revenue was down 23.7% compared to the same quarter last year.
In other news, CFO Steven Sterin purchased 1,100 shares of the stock in a transaction on Friday, August 26th. The stock was bought at an average price of $73.93 per share, for a total transaction of $81,323.00. Following the acquisition, the chief financial officer now directly owns 8,152 shares of the company’s stock, valued at approximately $602,677.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.88% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of TSO. University of Notre Dame DU Lac boosted its position in Tesoro Corp. by 104.4% in the first quarter. University of Notre Dame DU Lac now owns 18,769 shares of the company’s stock valued at $1,614,000 after buying an additional 9,586 shares during the period. Geode Capital Management LLC boosted its position in Tesoro Corp. by 4.2% in the first quarter. Geode Capital Management LLC now owns 1,222,635 shares of the company’s stock valued at $104,987,000 after buying an additional 49,699 shares during the period. Riverhead Capital Management LLC boosted its position in Tesoro Corp. by 2.6% in the first quarter. Riverhead Capital Management LLC now owns 232,639 shares of the company’s stock valued at $20,009,000 after buying an additional 5,920 shares during the period. Pictet Asset Management Ltd. boosted its position in Tesoro Corp. by 6.8% in the first quarter. Pictet Asset Management Ltd. now owns 69,288 shares of the company’s stock valued at $5,590,000 after buying an additional 4,400 shares during the period. Finally, BP Capital Fund Advisors LLC boosted its position in Tesoro Corp. by 2.2% in the first quarter. BP Capital Fund Advisors LLC now owns 28,025 shares of the company’s stock valued at $2,410,000 after buying an additional 610 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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