Tesoro Corp. (TSO) Price Target Increased to $92.00 by Analysts at Piper Jaffray Cos.
Tesoro Corp. (NYSE:TSO) had its target price upped by Piper Jaffray Cos. from $82.00 to $92.00 in a report released on Friday morning. Piper Jaffray Cos. currently has an overweight rating on the stock.
A number of other equities analysts also recently weighed in on the stock. Simmons reaffirmed an overweight rating and issued a $82.00 target price (up from $78.00) on shares of Tesoro Corp. in a research note on Monday, August 8th. Wells Fargo & Co. reaffirmed a hold rating on shares of Tesoro Corp. in a research note on Sunday, July 10th. Barclays PLC reaffirmed an overweight rating and issued a $105.00 target price on shares of Tesoro Corp. in a research note on Tuesday, August 2nd. Wolfe Research raised shares of Tesoro Corp. from a market perform rating to an outperform rating in a research note on Monday, June 20th. Finally, Mizuho boosted their target price on shares of Tesoro Corp. from $67.00 to $94.00 and gave the stock a buy rating in a research note on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. Tesoro Corp. presently has a consensus rating of Buy and a consensus target price of $101.13.
Tesoro Corp. (NYSE:TSO) traded up 1.33% during trading on Friday, reaching $83.07. 293,496 shares of the company were exchanged. The firm has a market cap of $9.93 billion, a price-to-earnings ratio of 7.78 and a beta of 2.10. Tesoro Corp. has a 52-week low of $67.80 and a 52-week high of $119.67. The firm has a 50-day moving average of $76.27 and a 200-day moving average of $79.37.
Tesoro Corp. (NYSE:TSO) last announced its earnings results on Wednesday, August 3rd. The company reported $3.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.77 by $1.70. Tesoro Corp. had a net margin of 5.12% and a return on equity of 20.15%. The company earned $6.29 billion during the quarter, compared to the consensus estimate of $5.87 billion. During the same period in the previous year, the firm posted $4.59 earnings per share. The company’s revenue was down 23.7% on a year-over-year basis. On average, equities analysts forecast that Tesoro Corp. will post $5.46 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a dividend of $0.55 per share. This is a boost from Tesoro Corp.’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, August 29th. This represents a $2.20 annualized dividend and a yield of 2.68%. Tesoro Corp.’s dividend payout ratio is presently 20.72%.
In other Tesoro Corp. news, CFO Steven Sterin bought 1,100 shares of Tesoro Corp. stock in a transaction that occurred on Friday, August 26th. The stock was acquired 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 owns 8,152 shares of the company’s stock, valued at approximately $602,677.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.88% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Signaturefd LLC raised its stake in Tesoro Corp. by 1.4% in the second quarter. Signaturefd LLC now owns 1,351 shares of the company’s stock valued at $101,000 after buying an additional 18 shares during the period. Cleararc Capital Inc. raised its stake in Tesoro Corp. by 0.8% in the second quarter. Cleararc Capital Inc. now owns 2,931 shares of the company’s stock valued at $220,000 after buying an additional 24 shares during the period. Ifrah Financial Services Inc. raised its stake in Tesoro Corp. by 1.1% in the second quarter. Ifrah Financial Services Inc. now owns 5,629 shares of the company’s stock valued at $422,000 after buying an additional 61 shares during the period. Advantus Capital Management Inc raised its stake in Tesoro Corp. by 0.9% in the second quarter. Advantus Capital Management Inc now owns 11,699 shares of the company’s stock valued at $876,000 after buying an additional 103 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD raised its stake in Tesoro Corp. by 1.2% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 9,194 shares of the company’s stock valued at $688,000 after buying an additional 110 shares during the period. 88.43% of the stock is currently owned by hedge funds and other institutional investors.
Tesoro Corp. Company Profile
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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