Savant Capital LLC decreased its stake in Tesoro Corp. (NYSE:TSO) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,690 shares of the company’s stock after selling 130 shares during the period. Savant Capital LLC’s holdings in Tesoro Corp. were worth $651,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Bank of Montreal Can bought a new stake in Tesoro Corp. during the second quarter worth $28,489,000. JPMorgan Chase & Co. raised its stake in 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 period. Prudential Financial Inc. raised its stake in Tesoro Corp. by 51.3% in the first quarter. Prudential Financial Inc. now owns 920,393 shares of the company’s stock worth $79,162,000 after buying an additional 312,080 shares during the period. Old Mutual Global Investors UK Ltd. bought a new stake in Tesoro Corp. during the second quarter worth $18,180,000. Finally, State Street Corp raised its stake in 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 period. 88.41% of the stock is owned by hedge funds and other institutional investors.
Tesoro Corp. (NYSE:TSO) traded up 1.02% during trading on Tuesday, reaching $80.24. The company had a trading volume of 1,860,159 shares. Tesoro Corp. has a 12-month low of $67.80 and a 12-month high of $119.67. The stock has a 50 day moving average of $78.49 and a 200-day moving average of $78.94. The stock has a market capitalization of $9.59 billion, a P/E ratio of 7.51 and a beta of 2.03.
Tesoro Corp. (NYSE:TSO) last announced its quarterly earnings data 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 the consensus estimate of $5.87 billion. Tesoro Corp. had a net margin of 5.12% and a return on equity of 20.15%. The firm’s quarterly revenue was down 23.7% compared to the same quarter last year. During the same quarter last year, the firm earned $4.59 earnings per share. On average, analysts forecast that Tesoro Corp. will post $5.51 earnings per share for the current fiscal year.
The business also recently declared 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 represents a $2.20 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Monday, August 29th. This is an increase from Tesoro Corp.’s previous quarterly dividend of $0.50. Tesoro Corp.’s payout ratio is currently 20.72%.
A number of research firms have recently weighed in on TSO. Wells Fargo & Co. reissued a “hold” rating on shares of Tesoro Corp. in a research note on Saturday, August 6th. JPMorgan Chase & Co. lowered their target price 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. Goldman Sachs Group Inc. raised Tesoro Corp. from a “neutral” rating to a “buy” rating and boosted their target price for the company from $96.00 to $100.00 in a research note on Wednesday, June 29th. Wolfe Research raised Tesoro Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, June 20th. Finally, Simmons lowered their target price on Tesoro Corp. from $88.00 to $87.00 and set an “overweight” rating for the company in a research note on Friday, July 1st. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $100.69.
In related news, CFO Steven Sterin purchased 1,100 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was purchased 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 owns 8,152 shares of the company’s stock, valued at approximately $602,677.36. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 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.
Want to see what other hedge funds are holding TSO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesoro Corp. (NYSE:TSO).
Receive News & Ratings for Tesoro Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesoro Corp. and related companies with MarketBeat.com's FREE daily email newsletter.