Tesoro Corp. (TSO) Shares Sold by Nationwide Fund Advisors
Nationwide Fund Advisors decreased its stake in shares of Tesoro Corp. (NYSE:TSO) by 2.7% during the second quarter, Holdings Channel reports. The firm owned 129,411 shares of the company’s stock after selling 3,653 shares during the period. Nationwide Fund Advisors owned 0.11% of Tesoro Corp. worth $9,695,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Tesoro Corp. during the fourth quarter valued at approximately $111,261,000. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Tesoro Corp. by 1.8% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 101,305 shares of the company’s stock valued at $8,713,000 after buying an additional 1,783 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Tesoro Corp. by 12.2% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 28,116 shares of the company’s stock valued at $2,418,000 after buying an additional 3,049 shares during the last quarter. Exxonmobil Investment Management Inc. TX boosted its stake in shares of Tesoro Corp. by 7.6% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 29,047 shares of the company’s stock valued at $2,498,000 after buying an additional 2,063 shares during the last quarter. Finally, Capital Impact Advisors LLC boosted its stake in shares of Tesoro Corp. by 4.6% in the first quarter. Capital Impact Advisors LLC now owns 9,517 shares of the company’s stock valued at $819,000 after buying an additional 417 shares during the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.
Shares of Tesoro Corp. (NYSE:TSO) traded up 2.28% during mid-day trading on Monday, reaching $83.85. The company’s stock had a trading volume of 2,047,516 shares. Tesoro Corp. has a 52-week low of $67.80 and a 52-week high of $119.67. The firm has a market cap of $10.02 billion, a price-to-earnings ratio of 7.85 and a beta of 2.10. The firm has a 50 day moving average price of $76.27 and a 200 day moving average price of $79.37.
Tesoro Corp. (NYSE:TSO) last issued its earnings results on Wednesday, August 3rd. The company reported $3.47 EPS for the quarter, topping the Thomson Reuters’ 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 company earned $6.29 billion during the quarter, compared to the consensus estimate of $5.87 billion. During the same period in the previous year, the company posted $4.59 EPS. The firm’s revenue for the quarter was down 23.7% compared to the same quarter last year. On average, equities analysts predict that Tesoro Corp. will post $5.46 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a dividend of $0.55 per share. This is an increase from Tesoro Corp.’s previous quarterly dividend of $0.50. This represents a $2.20 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend was Monday, August 29th. Tesoro Corp.’s payout ratio is currently 20.72%.
Several equities research analysts recently commented on TSO shares. Cowen and Company reissued a “buy” rating on shares of Tesoro Corp. in a research note on Wednesday, June 1st. Zacks Investment Research raised Tesoro Corp. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 8th. JPMorgan Chase & Co. lowered their price target on Tesoro Corp. from $100.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, June 10th. Credit Suisse Group AG cut Tesoro Corp. from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $100.00 to $90.00 in a research note on Wednesday, June 15th. Finally, Wolfe Research raised Tesoro Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, June 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. Tesoro Corp. currently has an average rating of “Buy” and an average target price of $101.13.
In other Tesoro Corp. news, CFO Steven Sterin bought 1,100 shares of Tesoro Corp. stock in a transaction dated Friday, August 26th. The stock was bought at an average cost of $73.93 per share, for a total transaction of $81,323.00. Following the purchase, the chief financial officer now owns 8,152 shares of the company’s stock, valued at approximately $602,677.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.88% of the company’s stock.
About Tesoro Corp.
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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