Tesoro Corp. (NYSE:TSO) – Equities researchers at Jefferies Group dropped their Q3 2016 earnings per share estimates for Tesoro Corp. in a report released on Thursday. Jefferies Group analyst C. Goldman now forecasts that the brokerage will post earnings per share of $1.31 for the quarter, down from their prior estimate of $2.02. Jefferies Group has a “Buy” rating and a $98.00 price target on the stock. Jefferies Group also issued estimates for Tesoro Corp.’s FY2016 earnings at $5.08 EPS.
Other equities analysts have also recently issued research reports about the stock. Mizuho increased their price target on shares of Tesoro Corp. from $67.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, July 5th. Barclays PLC raised shares of Tesoro Corp. from a “neutral” rating to a “buy” rating and increased their price target for the stock from $96.00 to $100.00 in a research report on Thursday, June 30th. Goldman Sachs Group Inc. raised shares of Tesoro Corp. from a “neutral” rating to a “buy” rating and increased their price target for the stock from $96.00 to $100.00 in a research report on Wednesday, June 29th. Citigroup Inc. raised shares of Tesoro Corp. from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $92.50 to $92.00 in a research report on Tuesday, July 19th. Finally, Bank of America Corp. reaffirmed a “buy” rating and set a $109.00 price target (up previously from $95.00) on shares of Tesoro Corp. in a research report on Monday, September 26th. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Tesoro Corp. 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 Monday. Tesoro Corp. has a 52-week low of $67.80 and a 52-week high of $119.67. The company’s 50-day moving average is $79.89 and its 200 day moving average is $78.58. The firm has a market capitalization of $9.76 billion, a P/E ratio of 7.64 and a beta of 2.03.
Tesoro Corp. (NYSE:TSO) last posted its earnings results on Wednesday, August 3rd. The company reported $3.47 EPS for the quarter, topping the 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 business had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $5.87 billion. During the same period last year, the company earned $4.59 EPS. The firm’s revenue was down 23.7% compared to the same quarter last year.
Hedge funds have recently modified their holdings of the company. Signaturefd LLC boosted its stake in shares of Tesoro Corp. by 1.4% in the second quarter. Signaturefd LLC now owns 1,351 shares of the company’s stock worth $101,000 after buying an additional 18 shares during the last quarter. Acrospire Investment Management LLC acquired a new stake in shares of Tesoro Corp. during the first quarter worth $103,000. Zions Bancorporation boosted its stake in shares of Tesoro Corp. by 2,912.2% in the first quarter. Zions Bancorporation now owns 1,235 shares of the company’s stock worth $106,000 after buying an additional 1,194 shares during the last quarter. Advisor Group Inc. acquired a new stake in shares of Tesoro Corp. during the second quarter worth $118,000. Finally, Daiwa SB Investments Ltd. boosted its stake in shares of Tesoro Corp. by 8.0% in the second quarter. Daiwa SB Investments Ltd. now owns 1,620 shares of the company’s stock worth $122,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 88.41% of the company’s stock.
In related news, CFO Steven Sterin acquired 1,100 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were acquired at an average price of $73.93 per share, for a total transaction of $81,323.00. Following the completion of the purchase, the chief financial officer now directly owns 8,152 shares of the company’s stock, valued at $602,677.36. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.88% of the company’s stock.
Tesoro Corp. Company Profile