Tesoro Corporation Sees Unusually High Options Volume (TSO)
Tesoro Corporation (NYSE:TSO) was the target of unusually large options trading activity on Monday. Traders bought 847 call options on the stock. This represents an increase of 259% compared to the average daily volume of 236 call options.
Shares of Tesoro Corporation (NYSE TSO) opened at 92.43 on Friday. The firm has a market cap of $10.82 billion, a P/E ratio of 15.41 and a beta of 1.76. The stock has a 50 day moving average of $84.54 and a 200 day moving average of $84.21. Tesoro Corporation has a 52 week low of $69.49 and a 52 week high of $94.32.
Tesoro Corporation (NYSE:TSO) last issued its quarterly earnings results on Monday, May 8th. The oil and gas company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.16. Tesoro Corporation had a return on equity of 7.89% and a net margin of 2.74%. The company had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.46 billion. During the same quarter last year, the business earned $1.19 earnings per share. Tesoro Corporation’s revenue was up 30.1% on a year-over-year basis. Analysts anticipate that Tesoro Corporation will post $5.09 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Friday, May 19th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend was Wednesday, May 17th. Tesoro Corporation’s payout ratio is currently 36.85%.
Several equities analysts recently weighed in on TSO shares. Citigroup Inc. reaffirmed a “buy” rating and set a $104.00 price objective (down previously from $109.00) on shares of Tesoro Corporation in a research report on Saturday, April 22nd. Credit Suisse Group lowered shares of Tesoro Corporation from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $110.00 to $93.00 in a research report on Friday, March 24th. Zacks Investment Research lowered shares of Tesoro Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th. Piper Jaffray Companies reissued an “overweight” rating on shares of Tesoro Corporation in a research report on Thursday, May 25th. Finally, Morgan Stanley raised shares of Tesoro Corporation from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $100.00 to $110.00 in a research report on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Tesoro Corporation presently has a consensus rating of “Buy” and a consensus price target of $106.47.
In related news, CFO Steven Sterin purchased 1,150 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was acquired at an average cost of $83.75 per share, for a total transaction of $96,312.50. Following the completion of the acquisition, the chief financial officer now owns 9,942 shares in the company, valued at approximately $832,642.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David Lilley acquired 500 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were acquired at an average cost of $83.16 per share, for a total transaction of $41,580.00. Following the transaction, the director now owns 15,134 shares of the company’s stock, valued at approximately $1,258,543.44. The disclosure for this purchase can be found here. Company insiders own 0.86% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Piedmont Investment Advisors LLC boosted its position in shares of Tesoro Corporation by 1.8% in the first quarter. Piedmont Investment Advisors LLC now owns 36,314 shares of the oil and gas company’s stock worth $2,944,000 after buying an additional 641 shares during the last quarter. Achmea Investment Management B.V. bought a new position in shares of Tesoro Corporation during the first quarter worth approximately $2,567,000. Bank of Nova Scotia boosted its position in shares of Tesoro Corporation by 2,625.4% in the first quarter. Bank of Nova Scotia now owns 229,536 shares of the oil and gas company’s stock worth $18,606,000 after buying an additional 221,114 shares during the last quarter. Summit Global Investments boosted its position in shares of Tesoro Corporation by 15.7% in the first quarter. Summit Global Investments now owns 6,807 shares of the oil and gas company’s stock worth $552,000 after buying an additional 925 shares during the last quarter. Finally, RBF Capital LLC boosted its position in shares of Tesoro Corporation by 140.0% in the first quarter. RBF Capital LLC now owns 60,000 shares of the oil and gas company’s stock worth $4,864,000 after buying an additional 35,000 shares during the last quarter. Institutional investors own 91.92% of the company’s stock.
Tesoro Corporation Company Profile
Tesoro Corporation (Tesoro) is an independent petroleum refining, logistics and marketing company. he Company operates through three segments. The Refining operating segment refines crude oil and other feedstocks into transportation fuels, such as gasoline and gasoline blendstocks, jet fuel and diesel fuel, as well as other products, including heavy fuel oils, liquefied petroleum gas and petroleum coke for sale in bulk markets to a range of customers within its markets.
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