Royal Bank Of Canada reaffirmed their hold rating on shares of Tesoro Corporation (NYSE:TSO) in a research note released on Thursday morning. Royal Bank Of Canada currently has a $100.00 price objective on the oil and gas company’s stock.
Several other equities research analysts also recently weighed in on TSO. Credit Suisse Group downgraded shares of Tesoro Corporation from an outperform rating to a neutral rating and reduced their target price for the company from $110.00 to $93.00 in a research note on Friday, March 24th. Scotiabank reissued a buy rating and issued a $91.00 target price on shares of Tesoro Corporation in a research note on Monday, March 27th. Janney Montgomery Scott started coverage on shares of Tesoro Corporation in a research note on Monday, April 10th. They issued a hold rating and a $141.00 target price on the stock. Jefferies Group LLC set a $94.00 target price on shares of Tesoro Corporation and gave the company a buy rating in a research note on Wednesday, April 19th. Finally, Citigroup Inc. reissued 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. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $109.00.
Shares of Tesoro Corporation (NYSE TSO) opened at 96.99 on Thursday. The company has a market cap of $11.36 billion, a price-to-earnings ratio of 16.17 and a beta of 1.71. Tesoro Corporation has a one year low of $72.78 and a one year high of $98.24. The firm has a 50-day moving average of $92.98 and a 200-day moving average of $85.23.
Tesoro Corporation (NYSE:TSO) last announced its earnings results on Monday, May 8th. The oil and gas company reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ 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 business 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 firm posted $1.19 earnings per share. The business’s revenue for the quarter was up 30.1% on a year-over-year basis. Equities research analysts forecast that Tesoro Corporation will post $4.95 EPS for the current fiscal year.
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In other Tesoro Corporation news, Director David Lilley bought 500 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were bought at an average cost of $83.16 per share, for a total transaction of $41,580.00. Following the acquisition, the director now directly owns 15,134 shares in the company, valued at $1,258,543.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven Sterin bought 1,150 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were acquired at an average price 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 $832,642.50. The disclosure for this purchase can be found here. 0.86% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Tesoro Corporation by 5.7% in the first quarter. Vanguard Group Inc. now owns 12,016,473 shares of the oil and gas company’s stock valued at $974,056,000 after buying an additional 651,961 shares during the last quarter. 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 valued at $722,530,000 after buying an additional 8,537,930 shares during the last quarter. 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 valued at $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 valued at $244,346,000 after buying an additional 830,819 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Tesoro Corporation by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,257,982 shares of the oil and gas company’s stock valued at $183,024,000 after buying an additional 14,154 shares during the last quarter. Institutional investors own 91.83% of the company’s stock.
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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