Credit Suisse Group AG upgraded shares of Tesoro Corp. (NYSE:TSO) from a neutral rating to an outperform rating in a research report released on Tuesday morning. Credit Suisse Group AG currently has $100.00 price objective on the stock, up from their previous price objective of $85.00.
Several other equities research analysts have also recently issued reports on TSO. Wells Fargo & Co. reaffirmed a hold rating on shares of Tesoro Corp. in a report on Saturday, August 6th. Scotiabank raised Tesoro Corp. from a sector perform rating to an outperform rating and reduced their price objective for the stock from $105.00 to $93.00 in a research note on Monday, July 11th. Zacks Investment Research cut Tesoro Corp. from a hold rating to a sell rating in a research note on Friday, August 26th. Goldman Sachs Group Inc. raised Tesoro Corp. from a neutral rating to a buy rating and boosted their price objective for the stock from $96.00 to $100.00 in a research note on Wednesday, June 29th. Finally, Simmons reduced their price objective on Tesoro Corp. from $88.00 to $87.00 and set an overweight rating on the stock in a research note on Friday, July 1st. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $101.44.
Shares of Tesoro Corp. (NYSE:TSO) opened at 81.66 on Tuesday. The firm has a 50-day moving average price of $79.89 and a 200 day moving average price of $78.58. The stock has a market cap of $9.76 billion, a PE ratio of 7.64 and a beta of 2.03. Tesoro Corp. has a 12-month low of $67.80 and a 12-month high of $119.67.
Tesoro Corp. (NYSE:TSO) last issued its earnings results on Wednesday, August 3rd. The company reported $3.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $1.70. Tesoro Corp. had a return on equity of 20.15% and a net margin of 5.12%. The firm had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $5.87 billion. During the same period in the previous year, the firm posted $4.59 earnings per share. The business’s revenue was down 23.7% compared to the same quarter last year. Equities research analysts expect that Tesoro Corp. will post $5.47 earnings per share for the current year.
In related news, CFO Steven Sterin bought 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 completion of the acquisition, the chief financial officer now directly owns 8,152 shares in the company, valued at $602,677.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.88% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services Inc raised its stake in Tesoro Corp. by 12.7% in the first quarter. Commonwealth Equity Services Inc now owns 3,779 shares of the company’s stock worth $325,000 after buying an additional 425 shares in the last quarter. Ngam Advisors L.P. increased its position in shares of Tesoro Corp. by 53.7% in the first quarter. Ngam Advisors L.P. now owns 19,558 shares of the company’s stock worth $1,682,000 after buying an additional 6,837 shares during the last quarter. BlackRock Group LTD increased its position in shares of Tesoro Corp. by 10.0% in the first quarter. BlackRock Group LTD now owns 1,321,056 shares of the company’s stock worth $113,623,000 after buying an additional 119,602 shares during the last quarter. Columbia Partners L L C Investment Management increased its position in shares of Tesoro Corp. by 27.4% in the first quarter. Columbia Partners L L C Investment Management now owns 10,850 shares of the company’s stock worth $933,000 after buying an additional 2,334 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Tesoro Corp. by 26.8% in the first quarter. JPMorgan Chase & Co. now owns 1,481,982 shares of the company’s stock worth $127,465,000 after buying an additional 312,849 shares during the last quarter. Institutional investors own 88.35% 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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