JP Morgan Maintains Tesoro Corporation to Neutral with Price Target $87.00

Brokerage firm JP Morgan Maintains its rating on Tesoro Corporation(NYSE:TSO). In a research note issued to the investors, the brokerage major Lowers the price-target to $87.00 per share. The shares have been rated Neutral. The rating by JP Morgan was issued on Aug 5, 2016.

In a different note, On Aug 5, 2016, Barclays said it Maintains its rating on Tesoro Corporation. In the research note, the firm Lowers the price-target to $105.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jul 19, 2016, Citigroup said it Upgrades its rating on Tesoro Corporation. In the research note, the firm Lowers the price-target to $92.50 per share. The shares have been rated ‘Buy’ by the firm. On Jul 11, 2016, Scotia Howard Weil said it Upgrades its rating on Tesoro Corporation. The shares have been rated ‘Outperform’ by the firm. On Jun 29, 2016, Goldman Sachs said it Upgrades its rating on Tesoro Corporation. In the research note, the firm Raises the price-target to $96.00 per share. The shares have been rated ‘Buy’ by the firm. On Jun 15, 2016, Credit Suisse said it Downgrades 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. 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.

Tesoro Corporation (TSO) shares turned negative on Wednesdays trading session with the shares closing down -1.07 points or -1.39% at a volume of 22,93,985. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $77.23. The peak price level was also seen at $77.23 while the days lowest was $75.62. Finally the shares closed at $75.85. The 52-week high of the shares is $119.67 while the 52-week low is $67.8. According to the latest information available, the market cap of the company is $9,010 M.

Tesoro Corporation(TSO) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $6.29B. Analysts had an estimated revenue of $5.61B. Earnings per share were $1.64. Analysts had estimated an EPS of $1.85.

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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