Tesoro Corp. (TSO) Shares Bought by Boston Advisors LLC
Boston Advisors LLC increased its position in shares of Tesoro Corp. (NYSE:TSO) by 2.2% during the second quarter, Holdings Channel reports. The fund owned 272,616 shares of the company’s stock after buying an additional 5,971 shares during the period. Boston Advisors LLC’s holdings in Tesoro Corp. were worth $20,424,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Acrospire Investment Management LLC bought a new position in Tesoro Corp. during the first quarter worth $103,000. Zions Bancorporation boosted its position in Tesoro Corp. by 2,912.2% in the first quarter. Zions Bancorporation now owns 1,235 shares of the company’s stock worth $106,000 after buying an additional 1,194 shares during the last quarter. Daiwa SB Investments Ltd. boosted its position in Tesoro Corp. by 8.0% in the second quarter. Daiwa SB Investments Ltd. now owns 1,620 shares of the company’s stock worth $122,000 after buying an additional 120 shares during the last quarter. Commonwealth Equity Services Inc boosted its position in Tesoro Corp. by 12.7% in the first quarter. Commonwealth Equity Services Inc now owns 3,779 shares of the company’s stock worth $325,000 after buying an additional 425 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its position in Tesoro Corp. by 19.2% in the second quarter. LS Investment Advisors LLC now owns 4,500 shares of the company’s stock worth $337,000 after buying an additional 726 shares during the last quarter. 88.41% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Tesoro Corp. (NYSE:TSO) traded up 1.42% during midday trading on Thursday, hitting $82.95. The company’s stock had a trading volume of 1,871,792 shares. The firm has a market cap of $9.91 billion, a price-to-earnings ratio of 7.76 and a beta of 2.10. The firm has a 50-day moving average of $77.24 and a 200 day moving average of $79.32. Tesoro Corp. has a 12-month low of $67.80 and a 12-month high of $119.67.
Tesoro Corp. (NYSE:TSO) last released its earnings results on Wednesday, August 3rd. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $1.77 by $1.70. The business had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $5.87 billion. Tesoro Corp. had a return on equity of 20.15% and a net margin of 5.12%. The business’s quarterly revenue was down 23.7% compared to the same quarter last year. During the same quarter last year, the business posted $4.59 earnings per share. On average, equities research analysts predict that Tesoro Corp. will post $5.50 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a dividend of $0.55 per share. This is an increase from Tesoro Corp.’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, August 29th. This represents a $2.20 dividend on an annualized basis and a yield of 2.65%. Tesoro Corp.’s dividend payout ratio (DPR) is presently 20.72%.
A number of research analysts recently commented on the company. Mizuho boosted their price target on Tesoro Corp. from $67.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, July 5th. Wells Fargo & Co. reissued a “hold” rating on shares of Tesoro Corp. in a report on Saturday, August 6th. Piper Jaffray Cos. boosted their price target on Tesoro Corp. from $82.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, September 16th. Citigroup Inc. raised Tesoro Corp. from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $92.50 to $92.00 in a report on Tuesday, July 19th. Finally, JPMorgan Chase & Co. lowered their price target on Tesoro Corp. from $91.00 to $87.00 and set a “neutral” rating on the stock in a report on Friday, August 5th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $101.13.
In related news, CFO Steven Sterin acquired 1,100 shares of Tesoro Corp. stock in a transaction that occurred on Friday, August 26th. The shares were purchased at an average price of $73.93 per share, for a total transaction of $81,323.00. Following the completion of the transaction, the chief financial officer now owns 8,152 shares in the company, valued at approximately $602,677.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.88% of the company’s stock.
Tesoro Corp. Company Profile
Tesoro Corporation (Tesoro) is an independent petroleum refining and marketing company. The Company operates through three business segments: Refining operating segment (Refining), which owns and operates refineries, and refines crude oil and other feedstocks into transportation fuels; 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 terminaling, and transportation and storage assets, and marketing segment (Marketing), which sells transportation fuels.
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