Credit Suisse Downgrades Tesoro Corporation to Neutral with Price Target $90.00

Brokerage firm Credit Suisse Downgrades its rating on Tesoro Corporation(NYSE:TSO). In a research note issued to the investors, the brokerage major Lowers the price-target to $90.00 per share. The shares have been rated Neutral. Previously, the analysts had a Outperform rating on the shares. The rating by Credit Suisse was issued on Jun 15, 2016.

In a different note, On Jun 10, 2016, JP Morgan said it Maintains its rating on Tesoro Corporation. In the research note, the firm Lowers the price-target to $100.00 per share. The shares have been rated ‘Neutral’ by the firm. UBS said it Initiates Coverage on Tesoro Corporation, according to a research note issued on May 19, 2016. The shares have been rated ‘Buy’ by the firm. On Apr 8, 2016, Barclays said it Maintains its rating on Tesoro Corporation. In the research note, the firm Lowers the price-target to $120.00 per share. The shares have been rated ‘Overweight’ by the firm.

Tesoro Corporation (TSO) made into the market gainers list on Tuesdays trading session with the shares advancing 2.73% or 2.05 points. Due to strong positive momentum, the stock ended at $77.06, which is also near the day’s high of $77.35. The stock began the session at $75.32 and the volume stood at 19,91,091 shares. The 52-week high of the shares is $119.67 and the 52 week low is $67.8. The company has a current market capitalization of $9,245 M and it has 11,99,75,826 shares in outstanding.

Tesoro Corporation(TSO) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $5.10B. Analysts had an estimated revenue of $4.83B. Earnings per share were $1.19. Analysts had estimated an EPS of $1.02.

Several Insider Transactions has been reported to the SEC. On May 25, 2016, Daryl R Schofield (SVP, Commercial) sold 2,660 shares at $80.00 per share price.Also, 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.

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