Tesoro Logistics LP (TLLP) Stock Rating Lowered by BidaskClub
Tesoro Logistics LP (NASDAQ:TLLP) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
Several other research analysts have also weighed in on the company. Jefferies Group LLC set a $52.00 price objective on Tesoro Logistics and gave the stock a “hold” rating in a research report on Saturday, June 3rd. Barclays PLC reiterated an “overweight” rating and issued a $65.00 price objective on shares of Tesoro Logistics in a research report on Friday, June 2nd. Zacks Investment Research upgraded Tesoro Logistics from a “sell” rating to a “hold” rating in a research report on Friday, May 12th. Scotiabank reiterated a “buy” rating and issued a $63.00 price objective on shares of Tesoro Logistics in a research report on Thursday, April 27th. Finally, SunTrust Banks, Inc. assumed coverage on Tesoro Logistics in a research report on Monday, March 20th. They issued a “buy” rating and a $62.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $59.13.
Tesoro Logistics (NASDAQ:TLLP) opened at 48.70 on Thursday. Tesoro Logistics has a one year low of $43.00 and a one year high of $60.14. The stock has a market cap of $5.26 billion and a PE ratio of 27.77. The stock has a 50 day moving average price of $52.44 and a 200-day moving average price of $53.48.
Tesoro Logistics (NASDAQ:TLLP) last issued its quarterly earnings data on Monday, May 8th. The oil and gas company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.63 by $0.12. The company had revenue of $420 million during the quarter, compared to the consensus estimate of $348.74 million. The business’s revenue for the quarter was up 40.0% compared to the same quarter last year. During the same period last year, the firm earned $1.19 EPS. Equities research analysts expect that Tesoro Logistics will post $2.66 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Country Club Trust Company n.a. raised its position in Tesoro Logistics by 1.4% in the first quarter. Country Club Trust Company n.a. now owns 10,199 shares of the oil and gas company’s stock valued at $556,000 after buying an additional 142 shares in the last quarter. Searle & CO. purchased a new position in Tesoro Logistics during the fourth quarter valued at approximately $264,000. HITE Hedge Asset Management LLC purchased a new position in Tesoro Logistics during the fourth quarter valued at approximately $17,283,000. Whalerock Point Partners LLC raised its position in Tesoro Logistics by 4.2% in the fourth quarter. Whalerock Point Partners LLC now owns 37,000 shares of the oil and gas company’s stock valued at $1,880,000 after buying an additional 1,500 shares in the last quarter. Finally, Brookfield Asset Management Inc. purchased a new position in Tesoro Logistics during the fourth quarter valued at approximately $2,693,000.
About Tesoro Logistics
Tesoro Logistics LP is a full-service logistics company operating in the western and mid-continent regions of the United States. The Company operates through three segments. Its Gathering segment consists of crude oil, natural gas and produced water gathering systems in the Bakken Region and Rockies Region.
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