Credit Suisse Group Increases Tesoro Corporation (TSO) Price Target to $107.00
Tesoro Corporation (NYSE:TSO) had its price target increased by analysts at Credit Suisse Group from $100.00 to $107.00 in a note issued to investors on Tuesday. The firm presently has a “neutral” rating on the oil and gas company’s stock. Credit Suisse Group’s target price points to a potential upside of 17.39% from the stock’s previous close.
Other analysts also recently issued research reports about the company. TheStreet upgraded Tesoro Corporation from a “c+” rating to a “b-” rating in a research note on Wednesday, June 7th. US Capital Advisors restated a “buy” rating on shares of Tesoro Corporation in a research note on Monday, May 22nd. Citigroup Inc. restated a “buy” rating and issued a $104.00 target price (down previously from $109.00) on shares of Tesoro Corporation in a research note on Saturday, April 22nd. Jefferies Group LLC set a $94.00 target price on Tesoro Corporation and gave the stock a “buy” rating in a research note on Wednesday, April 19th. Finally, Scotiabank restated a “buy” rating and issued a $91.00 target price on shares of Tesoro Corporation in a research note on Monday, March 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $106.88.
Tesoro Corporation (NYSE TSO) opened at 91.15 on Tuesday. The company has a market cap of $10.67 billion, a P/E ratio of 15.19 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 stock has a 50 day moving average price of $85.29 and a 200 day moving average price of $84.38.
Tesoro Corporation (NYSE:TSO) last issued its earnings results on Monday, May 8th. The oil and gas company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.16. Tesoro Corporation had a return on equity of 7.89% and a net margin of 2.74%. The firm had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.46 billion. During the same quarter in the prior year, the business earned $1.19 earnings per share. The company’s revenue was up 30.1% compared to the same quarter last year. On average, equities research analysts anticipate that Tesoro Corporation will post $5.03 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Friday, May 19th were issued 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 2.41%. Tesoro Corporation’s payout ratio is currently 36.85%.
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In other news, Director David Lilley bought 500 shares of Tesoro Corporation stock in a transaction on Thursday, June 1st. The stock was acquired at an average price of $83.16 per share, with a total value of $41,580.00. Following the completion of the acquisition, the director now directly owns 15,134 shares of the company’s stock, valued at $1,258,543.44. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven Sterin bought 1,150 shares of Tesoro Corporation stock in a transaction on Thursday, June 1st. The shares were purchased at an average cost of $83.75 per share, with a total value of $96,312.50. Following the acquisition, the chief financial officer now directly owns 9,942 shares of the company’s stock, valued at $832,642.50. The disclosure for this purchase can be found here. 0.86% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Tesoro Corporation by 2,273.3% in the first quarter. BlackRock Inc. now owns 8,913,506 shares of the oil and gas company’s stock worth $722,530,000 after buying an additional 8,537,930 shares during the last quarter. Norges Bank purchased a new position in shares of Tesoro Corporation during the fourth quarter worth approximately $137,830,000. Boston Partners boosted its position in shares of Tesoro Corporation by 42.4% in the first quarter. Boston Partners now owns 4,574,824 shares of the oil and gas company’s stock worth $370,835,000 after buying an additional 1,361,943 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Tesoro Corporation by 38.0% in the first quarter. Bank of New York Mellon Corp now owns 3,014,412 shares of the oil and gas company’s stock worth $244,346,000 after buying an additional 830,819 shares during the last quarter. Finally, Luminus Management LLC purchased a new position in shares of Tesoro Corporation during the fourth quarter worth approximately $70,264,000. 91.83% of the stock is owned by institutional investors and hedge funds.
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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