First Midwest Bank Trust Division decreased its position in Tesoro Corp. (NYSE:TSO) by 3.0% during the second quarter, Holdings Channel reports. The fund owned 2,907 shares of the company’s stock after selling 90 shares during the period. First Midwest Bank Trust Division’s holdings in Tesoro Corp. were worth $218,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. State Street Corp increased its stake in shares of Tesoro Corp. by 2.6% in the first quarter. State Street Corp now owns 8,673,853 shares of the company’s stock worth $746,035,000 after buying an additional 219,476 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Tesoro Corp. by 26.8% in the first quarter. JPMorgan Chase & Co. now owns 1,481,982 shares of the company’s stock worth $127,465,000 after buying an additional 312,849 shares during the last quarter. BlackRock Group LTD increased its stake in shares of Tesoro Corp. by 10.0% in the first quarter. BlackRock Group LTD now owns 1,321,056 shares of the company’s stock worth $113,623,000 after buying an additional 119,602 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Tesoro Corp. by 4.2% in the first quarter. Geode Capital Management LLC now owns 1,222,635 shares of the company’s stock worth $104,987,000 after buying an additional 49,699 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Tesoro Corp. by 3.0% in the second quarter. Nordea Investment Management AB now owns 525,667 shares of the company’s stock worth $39,383,000 after buying an additional 15,458 shares during the last quarter. Hedge funds and other institutional investors own 88.41% of the company’s stock.
Shares of Tesoro Corp. (NYSE:TSO) traded down 1.60% during mid-day trading on Friday, hitting $79.98. 1,531,407 shares of the stock traded hands. The firm’s 50-day moving average is $79.03 and its 200-day moving average is $78.85. Tesoro Corp. has a 52 week low of $67.80 and a 52 week high of $119.67. The stock has a market cap of $9.56 billion, a price-to-earnings ratio of 7.49 and a beta of 2.03.
Tesoro Corp. (NYSE:TSO) last issued its earnings results on Wednesday, August 3rd. The company reported $3.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $1.70. The business earned $6.29 billion during the quarter, compared to analyst estimates of $5.87 billion. Tesoro Corp. had a return on equity of 20.15% and a net margin of 5.12%. Tesoro Corp.’s revenue for the quarter was down 23.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.59 earnings per share. On average, analysts forecast that Tesoro Corp. will post $5.47 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a $0.55 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $2.20 annualized dividend and a yield of 2.75%. This is a positive change from Tesoro Corp.’s previous quarterly dividend of $0.50. Tesoro Corp.’s dividend payout ratio is currently 20.72%.
TSO has been the topic of a number of analyst reports. Credit Suisse Group AG downgraded shares of Tesoro Corp. from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $100.00 to $90.00 in a research note on Wednesday, June 15th. Bank of America Corp. restated a “buy” rating and issued a $109.00 price target (up from $95.00) on shares of Tesoro Corp. in a research note on Monday, September 26th. Simmons restated an “overweight” rating and issued a $82.00 price target (up from $78.00) on shares of Tesoro Corp. in a research note on Monday, August 8th. Howard Weil upgraded shares of Tesoro Corp. from a “sector perform” rating to a “sector outperform” rating and reduced their price target for the company from $105.00 to $93.00 in a research note on Monday, July 11th. Finally, Zacks Investment Research downgraded shares of Tesoro Corp. from a “hold” rating to a “sell” rating in a research note on Friday, August 26th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $100.69.
In other news, CFO Steven Sterin bought 1,100 shares of the business’s stock in a transaction on Friday, August 26th. The stock was acquired at an average price of $73.93 per share, with a total value of $81,323.00. Following the completion of the purchase, the chief financial officer now directly owns 8,152 shares in the company, valued at $602,677.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.88% of the stock is 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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