Texas Permanent School Fund reduced its position in Tesoro Corp. (NYSE:TSO) by 6.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,584 shares of the company’s stock after selling 2,343 shares during the period. Texas Permanent School Fund’s holdings in Tesoro Corp. were worth $2,911,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the company. Signaturefd LLC increased its position in Tesoro Corp. 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 in the last quarter. Advisor Group Inc. acquired a new position in Tesoro Corp. during the second quarter worth $118,000. Daiwa SB Investments Ltd. increased its position in Tesoro Corp. 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 in the last quarter. Evercore Wealth Management LLC increased its position in Tesoro Corp. 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 in the last quarter. Finally, Pacer Advisors Inc. increased its position in Tesoro Corp. 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 in the last quarter. Institutional investors own 85.62% of the company’s stock.
Tesoro Corp. (NYSE:TSO) traded down 1.83% during trading on Thursday, reaching $80.14. 2,015,531 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $86.92 and its 200 day moving average price is $81.11. Tesoro Corp. has a 52-week low of $67.80 and a 52-week high of $93.50. The firm has a market cap of $9.47 billion, a P/E ratio of 13.60 and a beta of 1.70.
Tesoro Corp. (NYSE:TSO) last posted its quarterly earnings results on Monday, October 31st. The company reported $1.43 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.43. Tesoro Corp. 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 analyst estimates of $6.82 billion. During the same period in the prior year, the firm posted $6.13 earnings per share. The company’s quarterly revenue was down 15.5% compared to the same quarter last year. Equities research analysts anticipate that Tesoro Corp. will post $4.67 EPS for the current fiscal year.
A number of research firms have recently weighed in on TSO. Jefferies Group set a $98.00 price target on shares of Tesoro Corp. and gave the company a “buy” rating in a report on Saturday, October 15th. RBC Capital Markets set a $87.00 price target on shares of Tesoro Corp. and gave the company a “hold” rating in a report on Saturday, November 19th. Bank of America Corp. restated a “buy” rating and set a $109.00 price target (up previously from $95.00) on shares of Tesoro Corp. in a report on Monday, September 26th. Wells Fargo & Co. upgraded shares of Tesoro Corp. from a “market perform” rating to an “outperform” rating in a report on Monday, December 12th. Finally, Zacks Investment Research upgraded shares of Tesoro Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 22nd. Four research analysts have rated the stock with a hold rating, fourteen have issued 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 price target of $97.36.
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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