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Shares of Tesoro Under Pressure, Down 2.1%

Published on Mon, 03/11/2013 - 10:19
By Adrienne Chilton

Tesoro (NYSE:TSO) is one of today's biggest movers, down 2.1% to $57.17. The Dow is trading fractionally higher to 14,402 and the S&P is currently trading fractionally lower to 1,550.

Potential upside of 6.2% exists for Tesoro, based on a current level of $57.17 and analysts' average consensus price target of $60.69. The stock should find initial support at its 50-day moving average (MA) of $49.14 and further support at its 200-day MA of $38.20.

Tesoro Corporation refines and markets petroleum products, and provides transporting services. The Company operates refineries, as well as a network of retail and refueling stations in the western United States. Tesoro also markets gasoline and diesel fuel to independent marketers and commercial end users.

Over the past year, Tesoro has traded in a range of $20.77 to $59.56 and is now at $57.17, 175% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.0% while the 200-day MA has risen 2.4%.

By Adrienne Chilton
achilton@fnno.com