Stock Analysis:Tesoro Corporation (NYSE:TSO) Stock Target Upgraded
In an analyst research report finalized by JP Morgan on Thursday, 10 December, Tesoro Corporation (NYSE:TSO) had its target PPS raised to $122.00. The firm now has a solid Neutral rating on shares.
From a total of 13 analysts covering Tesoro Corporation (NYSE:TSO) stock, 8 rate it a ”Buy”, 0 a “Sell”, and 11 a ”Hold”. This means that 42% of the ratings are positive. The highest target price is $140 while the lowest target price is $105. The mean of all analyst targets is $122.69 with a 13.54% above today’s ($106.01) stock price. Tesoro Corporation was the topic of 12 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Oppenheimer maintained shares on November 23 with “Outperform” rating. RBC Capital Markets maintained shares with “Sector Perform” rating and $103 target share price in a report from an August 7. Citigroup maintained TSO stock in a recent report from October 21 with “Neutral” rating. Cowen & Co maintained the rating on August 6. Cowen & Co has a “Outperform” rating and a $120 price target on shares. Finally, Howard Weil downgraded the stock to “Sector Perform” rating in a report issued on an August 14.
Approximately 1.24M shares of stock traded hands. Tesoro Corporation (NYSE:TSO) has risen 21.34% since May 7, 2015 and is uptrending. It has outperformed by 23.27% the S&P500.
The overall sentiment of institutions has increased to 1.16 in Q2 2015. Its up 0.28, from 0.88 in 2015Q2. The ratio improved, as 56 institutions have sold all the shares of Tesoro Corporation that they owned while 175 funds have taken shares off the table. 80 funds have purchased shares for the first time while 188 added to their positions. These institutions now hold 98.74 million shares or 9.50% less than the 109.10 million shares they owned in 2015Q2.
The Fund Slate Path Capital Lp currently is holding shares equating to 25.2% of its total portfolio in Tesoro Corporation representing a total of 2.26 million shares. Another fund,Hound Partners Llc, is holding a total of 4.26 million shares equating to 8.95% of their holdings. Additionally, Bocage Capital Llc has a 114,798 share stake in Tesoro Corporation which represents 6.64% of their total portfolio. The Fund, Aravt Global Llc, based out of New York, has also built up a stake in the stock, which represents a total of 6.42% of their total portfolio. Finally Mount Lucas Management Lp, a fund which is based in the state of Pennsylvania reported a total holdings of 366,288 shares.
Insider activity is a very important aspect to track on any stock. Going back to May 14, 2015, shareholders of Tesoro Corporation have witnessed 0 insider buys, and a total of 2 insider sales equating to a net activity of approximately $1.80 million . Chase Rodney F sold 12,996 shares worth approximately $1.42M. Schofield Daryl R sold 3,658 shares worth approximately $381,676. Parrish Charles S sold 79,800 shares worth approximately $7.23M. Yang Patrick Y sold 10,000 shares worth approximately $920,101.
Tesoro Corporation is an independent petroleum refining and marketing company. The company has a market cap of $12.91 billion. Through its subsidiaries, the Company primarily transports crude oil and makes, transports and sells transportation fuels. It has 8 P/E ratio.
According to Zacks Investment Research, “Tesoro was founded in 1968 as a company primarily engaged in petroleum exploration and production. In 1969, Tesoro began operating Alaska’s first refinery near Kenai. Today, Tesoro is a FORTUNE 500 company and one of the largest independent petroleum refiners and marketers in the Western United States.” Get a free copy of the Zacks research report on Tesoro Corporation (TSO).