Mason Street Advisors LLC bought a new position in Tesoro Corp. (NYSE:TSO) during the second quarter, Holdings Channel reports. The institutional investor bought 16,160 shares of the company’s stock, valued at approximately $1,211,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acrospire Investment Management LLC purchased a new position in Tesoro Corp. during the first quarter worth $103,000. Zions Bancorporation increased 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 period. Signaturefd LLC increased its position in Tesoro Corp. by 1.4% in the second quarter. Signaturefd LLC now owns 1,351 shares of the company’s stock worth $101,000 after buying an additional 18 shares during the period. Advisor Group Inc. purchased a new position in Tesoro Corp. during the second quarter worth $118,000. Finally, Daiwa SB Investments Ltd. increased 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 period. Hedge funds and other institutional investors own 88.41% of the company’s stock.
Tesoro Corp. (NYSE:TSO) opened at 82.95 on Friday. The company has a market capitalization of $9.91 billion, a PE ratio of 7.76 and a beta of 2.10. Tesoro Corp. has a one year low of $67.80 and a one year high of $119.67. The company has a 50-day moving average price of $77.41 and a 200-day moving average price of $79.35.
Tesoro Corp. (NYSE:TSO) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $3.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $1.70. The company had revenue of $6.29 billion for the quarter, compared to analyst estimates of $5.87 billion. Tesoro Corp. had a net margin of 5.12% and a return on equity of 20.15%. Tesoro Corp.’s revenue was down 23.7% compared to the same quarter last year. During the same period last year, the company posted $4.59 earnings per share. Analysts expect that Tesoro Corp. will post $5.50 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a $0.55 dividend. This is a positive change from Tesoro Corp.’s previous quarterly dividend of $0.50. This represents a $2.20 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Monday, August 29th. Tesoro Corp.’s payout ratio is currently 20.72%.
A number of research analysts have weighed in on the company. Wells Fargo & Co. reiterated a “hold” rating on shares of Tesoro Corp. in a report on Saturday, August 6th. Cowen and Company reiterated a “buy” rating on shares of Tesoro Corp. in a report on Wednesday, June 1st. JPMorgan Chase & Co. cut their price target on Tesoro Corp. from $100.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, June 10th. Zacks Investment Research upgraded Tesoro Corp. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 8th. Finally, Scotiabank upgraded Tesoro Corp. from a “sector perform” rating to an “outperform” rating and cut their price target for the stock from $105.00 to $93.00 in a research note on Monday, July 11th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Tesoro Corp. presently has an average rating of “Buy” and an average target price of $101.13.
In other news, CFO Steven Sterin purchased 1,100 shares of the business’s stock in a transaction on Friday, August 26th. The shares were acquired at an average cost of $73.93 per share, with a total value of $81,323.00. Following the completion of the acquisition, the chief financial officer now owns 8,152 shares of the company’s stock, valued at $602,677.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.88% of the stock is currently owned by company insiders.
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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