Todays Report: Today, Tesoro Corp. (TSO) Earns Buy Rating from Credit Suisse Group AG

Today, Tesoro Corp. (TSO) Earns Buy Rating from Credit Suisse Group AG

Tesoro Corp. (NYSE:TSO)‘s stock had its “buy” rating reaffirmed by stock analysts at Credit Suisse Group AG in a report released on Tuesday. They presently have a $100.00 price target on the stock. Credit Suisse Group AG’s price objective would suggest a potential upside of 15.63% from the company’s current price.

TSO has been the topic of a number of other reports. Simmons restated an “overweight” rating and issued a $82.00 price objective (up from $78.00) on shares of Tesoro Corp. in a report on Monday, August 8th. Barclays PLC restated an “overweight” rating and issued a $105.00 price objective on shares of Tesoro Corp. in a report on Tuesday, August 2nd. Bank of America Corp. restated a “buy” rating and issued a $109.00 price objective (up from $95.00) on shares of Tesoro Corp. in a report on Monday, September 26th. Zacks Investment Research upgraded shares of Tesoro Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 22nd. Finally, Piper Jaffray Cos. raised their price objective on shares of Tesoro Corp. from $82.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, September 16th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Tesoro Corp. currently has a consensus rating of “Buy” and a consensus target price of $99.38.

Tesoro Corp. (NYSE:TSO) traded up 0.51% during midday trading on Tuesday, reaching $86.48. 880,766 shares of the company’s stock traded hands. The company has a market capitalization of $10.22 billion, a PE ratio of 14.68 and a beta of 1.77. Tesoro Corp. has a 1-year low of $67.80 and a 1-year high of $118.26. The firm’s 50 day moving average price is $82.84 and its 200-day moving average price is $78.61.

Tesoro Corp. (NYSE:TSO) last issued its quarterly earnings results on Monday, October 31st. The company reported $1.43 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.43. Tesoro Corp. had a net margin of 2.93% and a return on equity of 11.99%. The company earned $6.54 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter last year, the company posted $6.13 EPS. The firm’s revenue was down 15.5% compared to the same quarter last year. Equities analysts expect that Tesoro Corp. will post $5.01 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Monday, November 28th. Tesoro Corp.’s payout ratio is 37.23%.

Several hedge funds have recently modified their holdings of the stock. Pictet Asset Management Ltd. increased its stake in shares of Tesoro Corp. by 6.8% in the first quarter. Pictet Asset Management Ltd. now owns 69,288 shares of the company’s stock valued at $5,590,000 after buying an additional 4,400 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Tesoro Corp. by 4.2% in the first quarter. Geode Capital Management LLC now owns 1,222,635 shares of the company’s stock valued at $104,987,000 after buying an additional 49,699 shares during the last quarter. Hancock Holding Co. increased its stake in shares of Tesoro Corp. by 0.6% in the first quarter. Hancock Holding Co. now owns 24,296 shares of the company’s stock valued at $2,090,000 after buying an additional 155 shares during the last quarter. Kennedy Capital Management Inc. purchased a new stake in shares of Tesoro Corp. during the first quarter valued at $6,869,000. Finally, AMP Capital Investors Ltd increased its stake in shares of Tesoro Corp. by 49.3% in the first quarter. AMP Capital Investors Ltd now owns 144,123 shares of the company’s stock valued at $12,462,000 after buying an additional 47,587 shares during the last quarter. 88.42% of the stock is currently owned by institutional investors and hedge funds.

About Tesoro Corp.

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