Candriam Luxembourg S.C.A. raised its position in Tesoro Corp. (NYSE:TSO) by 688.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,307 shares of the company’s stock after buying an additional 64,886 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Tesoro Corp. were worth $5,567,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Retirement Systems of Alabama raised its stake in Tesoro Corp. by 1.3% in the second quarter. Retirement Systems of Alabama now owns 61,167 shares of the company’s stock worth $4,583,000 after buying an additional 791 shares in the last quarter. Boston Advisors LLC raised its stake in Tesoro Corp. by 2.2% in the second quarter. Boston Advisors LLC now owns 272,616 shares of the company’s stock worth $20,424,000 after buying an additional 5,971 shares in the last quarter. PGGM Investments raised its stake in Tesoro Corp. by 1.3% in the second quarter. PGGM Investments now owns 80,313 shares of the company’s stock worth $6,017,000 after buying an additional 1,017 shares in the last quarter. Pitcairn Co. raised its stake in Tesoro Corp. by 46.2% in the second quarter. Pitcairn Co. now owns 15,936 shares of the company’s stock worth $1,194,000 after buying an additional 5,037 shares in the last quarter. Finally, Seven Bridges Advisors LLC raised its stake in Tesoro Corp. by 16.9% in the second quarter. Seven Bridges Advisors LLC now owns 20,717 shares of the company’s stock worth $1,552,000 after buying an additional 2,991 shares in the last quarter. 88.41% of the stock is currently owned by institutional investors.
Tesoro Corp. (NYSE:TSO) traded down 0.04% during mid-day trading on Wednesday, reaching $82.86. The company had a trading volume of 2,402,955 shares. Tesoro Corp. has a 12-month low of $67.80 and a 12-month high of $119.67. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 7.76 and a beta of 2.10. The stock has a 50-day moving average of $78.22 and a 200 day moving average of $79.18.
Tesoro Corp. (NYSE:TSO) last announced its quarterly earnings data 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. Tesoro Corp. had a return on equity of 20.15% and a net margin of 5.12%. The business earned $6.29 billion during the quarter, compared to analyst estimates of $5.87 billion. During the same period in the prior year, the company earned $4.59 earnings per share. Tesoro Corp.’s revenue was down 23.7% compared to the same quarter last year. On average, analysts expect that Tesoro Corp. will post $5.55 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.66%. This is a positive change from Tesoro Corp.’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, August 29th. Tesoro Corp.’s dividend payout ratio is 20.72%.
A number of equities research analysts recently issued reports on the company. Vetr raised Tesoro Corp. from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Bank of America Corp. reissued a “buy” rating and issued a $109.00 target price (up previously from $95.00) on shares of Tesoro Corp. in a research report on Monday. Zacks Investment Research raised Tesoro Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, September 22nd. Piper Jaffray Cos. lifted their target price on Tesoro Corp. from $82.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, September 16th. Finally, Jefferies Group assumed coverage on Tesoro Corp. in a research report on Tuesday, August 23rd. They issued a “buy” rating and a $101.00 target price on the stock. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Tesoro Corp. presently has a consensus rating of “Buy” and an average price target of $100.69.
In other news, CFO Steven Sterin acquired 1,100 shares of Tesoro Corp. stock in a transaction on Friday, August 26th. The stock was 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 in the company, valued at $602,677.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company 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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