Bank of America Corp. reissued their buy rating on shares of Tesoro Corp. (NYSE:TSO) in a research report released on Tuesday morning, Analyst RN reports. Bank of America Corp. currently has a $75.00 price objective on the stock, up from their previous price objective of $65.00.
“We continue to rate Tesoro amongst our preferred sector plays in the US refiners. Seasonally, 4Q earnings should mark the low point in the shares; however with material exposure to mid-continent crude dislocation, we believe TSO’s portfolio mix looks increasingly more balanced limiting downside risk during seasonal lows on the US West Coast. As the second company with an upcoming analyst day (Dec 10th) we believe several factors can underpin the near term outlook for the shares.,” the firm’s analyst wrote.
Tesoro Corp. (NYSE:TSO) traded down 0.77% on Tuesday, hitting $56.98. The stock had a trading volume of 2,737,733 shares. Tesoro Corp. has a 52-week low of $38.42 and a 52-week high of $65.75. The stock’s 50-day moving average is $51.62 and its 200-day moving average is $51.5. The company has a market cap of $7.670 billion and a P/E ratio of 17.93.
Tesoro Corp. (NYSE:TSO) last released its 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 $3.29 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Tuesday, November 26th.
A number of other analysts have also recently weighed in on TSO. 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. Separately, 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. Finally, analysts at Barclays cut their price target on shares of Tesoro Corp. from $120.00 to $100.00 in a research note to investors on Tuesday, October 8th. They now have an overweight rating on the stock. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Tesoro Corp. currently has a consensus rating of Buy and an average target price of $64.75.
Tesoro Corporation (NYSE:TSO) is an independent petroleum refiners and marketers in the United States.
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