Tesoro Corporation (TSO) Given Buy Rating at Scotiabank
Tesoro Corporation (NYSE:TSO)‘s stock had its “buy” rating restated by Scotiabank in a note issued to investors on Thursday, June 8th, Marketbeat reports. They currently have a $99.00 price target on the oil and gas company’s stock. Scotiabank’s price objective points to a potential upside of 7.11% from the company’s current price.
Other analysts also recently issued reports about the stock. Citigroup Inc. reiterated a “buy” rating and issued a $104.00 price objective (down from $109.00) on shares of Tesoro Corporation in a report on Saturday, April 22nd. Jefferies Group LLC set a $94.00 target price on shares of Tesoro Corporation and gave the stock a “buy” rating in a report on Wednesday, April 19th. Piper Jaffray Companies set a $102.00 target price on shares of Tesoro Corporation and gave the stock a “buy” rating in a report on Wednesday, February 8th. Credit Suisse Group reaffirmed a “buy” rating on shares of Tesoro Corporation in a research report on Wednesday, February 8th. Finally, US Capital Advisors reaffirmed a “buy” rating on shares of Tesoro Corporation in a research report on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $106.47.
Tesoro Corporation (NYSE:TSO) opened at 92.43 on Thursday. The firm has a market cap of $10.82 billion, a price-to-earnings ratio of 15.41 and a beta of 1.76. Tesoro Corporation has a 1-year low of $69.49 and a 1-year high of $94.32. The firm has a 50-day moving average of $84.54 and a 200 day moving average of $84.21.
Tesoro Corporation (NYSE:TSO) last posted its quarterly earnings data on Monday, May 8th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.16. Tesoro Corporation had a net margin of 2.74% and a return on equity of 7.89%. The company had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.46 billion. During the same period last year, the company earned $1.19 earnings per share. The firm’s revenue was up 30.1% compared to the same quarter last year. Analysts expect that Tesoro Corporation will post $5.09 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Friday, May 19th were given a dividend of $0.55 per share. The ex-dividend date was Wednesday, May 17th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.38%. Tesoro Corporation’s dividend payout ratio (DPR) is presently 36.85%.
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In other Tesoro Corporation news, Director David Lilley purchased 500 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was purchased at an average price of $83.16 per share, for a total transaction of $41,580.00. Following the transaction, the director now owns 15,134 shares in the company, valued at approximately $1,258,543.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Steven Sterin acquired 1,150 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were purchased 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 disclosure for this purchase can be found here. Company insiders own 0.86% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. TPH Asset Management LLC purchased a new position in shares of Tesoro Corporation during the third quarter worth $1,353,000. Lazard Asset Management LLC boosted its position in shares of Tesoro Corporation by 182.5% in the third quarter. Lazard Asset Management LLC now owns 2,913 shares of the oil and gas company’s stock worth $231,000 after buying an additional 1,882 shares in the last quarter. Highbridge Capital Management LLC purchased a new position in shares of Tesoro Corporation during the third quarter worth $1,417,000. Dean Investment Associates LLC purchased a new position in shares of Tesoro Corporation during the third quarter worth $410,000. Finally, Piedmont Investment Advisors LLC purchased a new position in shares of Tesoro Corporation during the third quarter worth $1,763,000. 91.83% of the stock is currently owned by institutional investors.
About Tesoro Corporation
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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