Tesoro Corporation (TSO) Shares Sold by Shell Asset Management Co.
Shell Asset Management Co. cut its position in shares of Tesoro Corporation (NYSE:TSO) by 5.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,443 shares of the company’s stock after selling 1,464 shares during the period. Shell Asset Management Co.’s holdings in Tesoro Corporation were worth $2,183,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of TSO. Signaturefd LLC raised its position in Tesoro Corporation 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 last quarter. Advisor Group Inc. purchased a new position in Tesoro Corporation during the second quarter worth about $118,000. Daiwa SB Investments Ltd. raised its position in Tesoro Corporation by 0.6% in the third quarter. Daiwa SB Investments Ltd. now owns 1,630 shares of the company’s stock worth $130,000 after buying an additional 10 shares during the last quarter. Evercore Wealth Management LLC raised its position in Tesoro Corporation by 133.3% in the second quarter. Evercore Wealth Management LLC now owns 1,981 shares of the company’s stock worth $148,000 after buying an additional 1,132 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in Tesoro Corporation by 17.0% in the second quarter. Pacer Advisors Inc. now owns 2,375 shares of the company’s stock worth $178,000 after buying an additional 345 shares during the last quarter. Institutional investors and hedge funds own 85.38% of the company’s stock.
Tesoro Corporation (NYSE:TSO) opened at 79.61 on Friday. Tesoro Corporation has a one year low of $67.80 and a one year high of $95.12. The company has a market capitalization of $9.41 billion, a P/E ratio of 6.44 and a beta of 1.70. The company’s 50-day moving average is $87.02 and its 200 day moving average is $80.94.
Tesoro Corporation (NYSE:TSO) last released its quarterly earnings data on Monday, October 31st. The company reported $1.43 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.43. Tesoro Corporation had a net margin of 2.93% and a return on equity of 11.99%. The firm had revenue of $6.54 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the previous year, the company earned $6.13 earnings per share. The company’s quarterly revenue was down 15.5% on a year-over-year basis. Analysts predict that Tesoro Corporation will post $4.86 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th were issued a $0.55 dividend. The ex-dividend date of this dividend was Monday, November 28th. This represents a $2.20 annualized dividend and a dividend yield of 2.76%. Tesoro Corporation’s dividend payout ratio is currently 37.23%.
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A number of research analysts recently issued reports on TSO shares. Credit Suisse Group reiterated a “buy” rating and issued a $100.00 target price on shares of Tesoro Corporation in a research note on Tuesday, November 8th. Citigroup Inc. raised their price target on shares of Tesoro Corporation from $92.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, October 19th. Jefferies Group set a $98.00 price target on shares of Tesoro Corporation and gave the stock a “buy” rating in a research report on Saturday, October 15th. Bank of America Corporation restated a “buy” rating and issued a $109.00 price target (up from $95.00) on shares of Tesoro Corporation in a research report on Monday, September 26th. Finally, Zacks Investment Research upgraded shares of Tesoro Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, September 22nd. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $97.36.
Tesoro Corporation 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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