Concert Wealth Management Inc. lowered its position in shares of Tesoro Corp. (NYSE:TSO) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,590 shares of the company’s stock after selling 141 shares during the period. Concert Wealth Management Inc.’s holdings in Tesoro Corp. were worth $416,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. ING Groep NV increased its position in Tesoro Corp. by 110.3% in the second quarter. ING Groep NV now owns 9,110 shares of the company’s stock worth $683,000 after buying an additional 4,778 shares in the last quarter. Candriam Luxembourg S.C.A. increased its position in Tesoro Corp. by 688.7% in the second quarter. Candriam Luxembourg S.C.A. now owns 74,307 shares of the company’s stock worth $5,567,000 after buying an additional 64,886 shares in the last quarter. Retirement Systems of Alabama increased its position in Tesoro Corp. by 1.3% in the second quarter. Retirement Systems of Alabama now owns 61,167 shares of the company’s stock worth $4,583,000 after buying an additional 791 shares in the last quarter. Boston Advisors LLC increased its position in Tesoro Corp. by 2.2% in the second quarter. Boston Advisors LLC now owns 272,616 shares of the company’s stock worth $20,424,000 after buying an additional 5,971 shares in the last quarter. Finally, PGGM Investments increased its position in Tesoro Corp. by 1.3% in the second quarter. PGGM Investments now owns 80,313 shares of the company’s stock worth $6,017,000 after buying an additional 1,017 shares in the last quarter. Institutional investors own 88.41% of the company’s stock.
Tesoro Corp. (NYSE:TSO) traded up 1.07% during mid-day trading on Thursday, hitting $81.60. 1,022,414 shares of the stock traded hands. The firm’s 50-day moving average is $79.51 and its 200-day moving average is $78.62. The company has a market cap of $9.75 billion, a price-to-earnings ratio of 7.64 and a beta of 2.03. Tesoro Corp. has a 12-month low of $67.80 and a 12-month high of $119.67.
Tesoro Corp. (NYSE:TSO) last released 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 net margin of 5.12% and a return on equity of 20.15%. The company earned $6.29 billion during the quarter, compared to analysts’ expectations of $5.87 billion. During the same quarter last year, the business earned $4.59 EPS. The business’s revenue was down 23.7% on a year-over-year basis. Equities research analysts expect that Tesoro Corp. will post $5.47 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend was Monday, August 29th. This is a boost from Tesoro Corp.’s previous quarterly dividend of $0.50. Tesoro Corp.’s dividend payout ratio (DPR) is 20.72%.
A number of research firms recently issued reports on TSO. Credit Suisse Group AG upgraded shares of Tesoro Corp. from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $85.00 to $100.00 in a research report on Tuesday. Barclays PLC reiterated an “overweight” rating and issued a $105.00 price objective (up previously from $100.00) on shares of Tesoro Corp. in a research report on Monday. Vetr upgraded shares of Tesoro Corp. from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 28th. Bank of America Corp. reiterated a “buy” rating and issued a $109.00 price objective (up previously from $95.00) on shares of Tesoro Corp. in a research report on Monday, September 26th. Finally, Zacks Investment Research upgraded shares of Tesoro Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, September 22nd. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $101.63.
In other 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 price 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 $602,677.36. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.88% of the stock is currently owned by insiders.
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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