Tesoro Corporation (TSO) is Initiated by Jefferies to Buy

Tesoro Corporation (TSO) was Initiated by Jefferies to “Buy”. Jefferies advised their investors in a research report released on Aug 23, 2016.

Many Wall Street Analysts have commented on Tesoro Corporation. Tesoro Corporation was Upgraded by Citigroup to ” Buy” on Jul 19, 2016. Tesoro Corporation was Upgraded by Scotia Howard Weil to ” Sector Outperform” on Jul 11, 2016. Company shares were Reiterated by Mizuho on Jul 5, 2016 to “Buy”, Firm has raised the Price Target to $ 94 from a previous price target of $67 .

On the company’s financial health, Tesoro Corporation reported $3.47 EPS for the quarter, beating the analyst consensus estimate by $ 1.70 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $1.77. The company had revenue of $6285.00 million for the quarter, compared to analysts expectations of $6209.38 million. The company’s revenue was down -23.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $4.59 EPS.

Tesoro Corporation opened for trading at $75.25 and hit $76.3 on the upside on Friday, eventually ending the session at $76.07, with a gain of 0.42% or 0.32 points. The heightened volatility saw the trading volume jump to 14,91,537 shares. Company has a market cap of $9,036 M.

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.

Tesoro Corporation

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