Tesoro Traded near Its 52-Week Low
Analyzing Crude Oil: Does It Have a Bottom?
52-week highs and moving average
Tesoro (TSO) reached a 52-week low of $67.8 as of February 18, 2016. However, the stock rebounded from the 52-week low. Currently, it’s above the psychological support level of $70. Tesoro’s adjusted earnings per share in 4Q15 stood at $1.83. The estimates were at $2.04. The surprise factor was at 10.3%. Again, analysts lowered the estimates for 1Q16 to $1.77 per share.
The ten large-cap downstream companies are at an average of 40% below their 52-week highs. However, these downstream companies are 7% above their 52-week lows on average. The downside—that started in the US (QQQ) since the ban on crude exports were removed in December 2015—is still continuing. However, the Gulf Coast crack spread managed to close at $6.99—compared to $5.51 the previous day.
The ten large-cap companies are trading 26% below their respective 100-day moving averages. Upstream companies are trading 21% below their respective 100-day moving averages.
Wall Street analysts’ consensus estimates
Wall Street analysts’ consensus estimates suggest that the ten major US (SPY) large-cap refiners could return 52.1% on average over the next 12 months. Phillips 66 (PSX), Valero Energy (VLO), Marathon Petroleum (MPC), and Tesoro (TSO) could rise by 16%, 38.4%, 79%, and 57.7%, respectively, from their current levels.
In the next part of the series, we’ll discuss the moving averages and analysts’ estimates for large-cap midstream companies.
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