JPMorgan Chase & Co. restated their overweight rating on shares of Tesoro Corp. (NYSE:TSO) in a report released on Monday, AmericanBankingNews.com reports. JPMorgan Chase & Co. currently has a $94.00 price objective on the stock, up from their previous price objective of $67.00.
“We maintain our Overweight rating on TSO and our view that the stock offers an attractive investment opportunity in the US refining sector. We believe TSO stands out from the peer group given its limited exposure to RINs and its significant opportunity to increase its intake of price-advantaged crudes in the near future. We also believe that TSO’s update of the level of Carson-related synergies, expected to be provided at the company’s analyst meeting on December 10, and the recently upped dropdown size of $650 mm, vs $500 mm previously, at the midpoint, could prove to be near-term catalysts for the stock. Finally, TSO offers investors the highest potential upside to underlying value in the group, with TSO offering more than 60% potential upside based on our YE14 PT relative to the rest of the group offering 20% potential upside, on average.,” the firm’s analyst commented.
A number of other firms have also recently commented on TSO. Analysts at Bank of America Corp. reiterated a buy rating on shares of Tesoro Corp. in a research note to investors on Tuesday, December 3rd. They now have a $75.00 price target on the stock, up previously from $65.00. Separately, analysts at Zacks reiterated a neutral rating on shares of Tesoro Corp. in a research note to investors on Thursday, November 21st. They now have a $58.00 price target on the stock. Finally, analysts at Credit Suisse cut their price target on shares of Tesoro Corp. from $65.00 to $60.00 in a research note to investors on Wednesday, October 9th. They now have an outperform rating on the stock. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Tesoro Corp. currently has an average rating of Buy and a consensus price target of $67.17.
Tesoro Corp. (NYSE:TSO) traded down 1.16% during mid-day trading on Monday, hitting $57.32. The stock had a trading volume of 2,732,472 shares. Tesoro Corp. has a one year low of $39.78 and a one year high of $65.75. The stock’s 50-day moving average is $52.75 and its 200-day moving average is $51.41. The company has a market cap of $7.715 billion and a P/E ratio of 18.11.
Tesoro Corp. (NYSE:TSO) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.50 by $0.06. The company had revenue of $11.24 billion for the quarter, compared to the consensus estimate of $8.33 billion. During the same quarter in the prior year, the company posted $2.05 earnings per share. The company’s quarterly revenue was up 41.5% on a year-over-year basis. Analysts expect that Tesoro Corp. will post $3.26 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Tuesday, November 26th.
Tesoro Corporation (NYSE:TSO) is an independent petroleum refiners and marketers in the United States.
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