According to Zacks, “Tesoro Logistics LP is a limited partnership formed to own, operate, develop and acquire crude oil and refined products logistics assets. The Company’s logistics assets are used to gather, transport and store crude oil and to distribute, transport and store refined products. Tesoro Logistics operates its business through two business segments: Crude Oil Gathering and Terminalling, Transportation and Storage. “
Several other equities analysts also recently commented on TLLP. Jefferies Group assumed coverage on Tesoro Logistics in a research report on Tuesday, August 23rd. They set a hold rating and a $49.00 target price for the company. Mizuho began coverage on Tesoro Logistics in a report on Thursday, September 29th. They set a buy rating and a $58.00 price target for the company.
Tesoro Logistics (NASDAQ:TLLP) opened at 46.11 on Tuesday. The firm has a 50 day moving average price of $47.21 and a 200-day moving average price of $47.24. The firm has a market capitalization of $4.66 billion and a price-to-earnings ratio of 20.70. Tesoro Logistics has a 12 month low of $35.18 and a 12 month high of $56.92.
Tesoro Logistics (NASDAQ:TLLP) last issued its earnings results on Wednesday, August 3rd. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.60 by $0.12. The business earned $293 million during the quarter, compared to the consensus estimate of $275 million. Tesoro Logistics’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. On average, equities analysts forecast that Tesoro Logistics will post $2.63 EPS for the current year.
In related news, CFO Steven Sterin acquired 1,600 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The stock was acquired at an average cost of $47.34 per share, with a total value of $75,744.00. Following the completion of the purchase, the chief financial officer now directly owns 2,514 shares in the company, valued at $119,012.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several large investors have recently made changes to their positions in the company. Creative Planning bought a new stake in shares of Tesoro Logistics during the third quarter worth approximately $121,000. Advisor Consultant Network Inc. acquired a new position in Tesoro Logistics during the third quarter valued at $487,000. Finally, Spirit of America Management Corp NY raised its position in Tesoro Logistics by 0.9% in the third quarter. Spirit of America Management Corp NY now owns 221,057 shares of the company’s stock valued at $10,708,000 after buying an additional 2,000 shares in the last quarter.
Tesoro Logistics Company Profile
Tesoro Logistics LP (TLLP) owns, operates, develops and acquires logistics assets. TLLP is a logistics company operating primarily in the western and mid-continent regions of the United States. The Company operates through three segments: Gathering, Processing, and Terminalling and Transportation. Its gathering systems include crude oil and natural gas pipeline gathering systems in the Bakken Shale/Williston Basin area of North Dakota and Montana and the Green River Basin, Uinta Basin and Vermillion Basin in the states of Utah, Colorado and Wyoming.
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