Tesoro Corporation (TSO) was Downgraded by Credit Suisse to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Credit Suisse advised their investors in a research report released on Jun 15, 2016.
Many Wall Street Analysts have commented on Tesoro Corporation. Shares were Reiterated by Barclays on Apr 8, 2016 to “Overweight” and Lowered the Price Target to $ 114 from a previous price target of $120 .
On the company’s financial health, Tesoro Corporation reported $1.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on May 4, 2016. Analyst had a consensus of $1.05. The company had revenue of $5101.00 million for the quarter, compared to analysts expectations of $5296.43 million. The company’s revenue was down -21.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.98 EPS.
Tesoro Corporation closed down -1.52 points or -2.05% at $72.71 with 29,81,979 shares getting traded on Tuesday. Post opening the session at $74.25, the shares hit an intraday low of $71.78 and an intraday high of $75.56 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on May 25, 2016, Daryl R Schofield (SVP, Commercial) sold 2,660 shares at $80.00 per share price. According to the SEC, on May 17, 2016, Steven Sterin (CFO) purchased 2,000 shares at $76.89 per share price. On May 11, 2016, David Lilley (director) purchased 1,000 shares at $77.87 per share price, according to the Form-4 filing with the securities and exchange commission.
Tesoro Corporation is an independent petroleum refining and marketing company. Through its subsidiaries the Company primarily transports crude oil and manufactures transports and sells transportation fuels. The Company operates through three business segments: Refining operating segment which owns and perates six petroleum refineries with a combined crude oil capacity of 850 thousand barrels per day (Mbpd) located in the western United States and sells transportation fuels to a variety of customers; TLLP a publicly traded limited partnership which includes certain crude oil and natural gas gathering assets natural gas processing and crude oil and refined products terminalling transportation and storage assets and Retail operating segment which sells transportation fuels in approximately 16 states through a network of approximately 2267 retail stations under the ARCO Shell Exxon Mobil USA Gasoline and Tesoro brands.