Vident Investment Advisory LLC Has $2.53 Million Holding in Tesoro Co. (TSO)

Vident Investment Advisory LLC Has $2.53 Million Holding in Tesoro Co. (TSO)

Vident Investment Advisory LLC lowered its position in Tesoro Co. (NYSE:TSO) by 0.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,212 shares of the oil and gas company’s stock after selling 37 shares during the period. Vident Investment Advisory LLC’s holdings in Tesoro were worth $2,530,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Tesoro during the fourth quarter worth $137,830,000. Boston Partners boosted its position in Tesoro by 42.4% in the first quarter. Boston Partners now owns 4,574,824 shares of the oil and gas company’s stock worth $370,835,000 after buying an additional 1,361,943 shares during the period. Artisan Partners Limited Partnership bought a new position in Tesoro during the fourth quarter worth approximately $115,598,000. Renaissance Technologies LLC bought a new position in Tesoro during the fourth quarter worth approximately $85,395,000. Finally, Bank of New York Mellon Corp boosted its position in Tesoro by 38.0% in the first quarter. Bank of New York Mellon Corp now owns 3,014,412 shares of the oil and gas company’s stock worth $244,346,000 after buying an additional 830,819 shares during the period. Institutional investors and hedge funds own 87.89% of the company’s stock.

Shares of Tesoro Co. (NYSE:TSO) traded up 1.50% on Friday, reaching $84.50. The company’s stock had a trading volume of 1,957,355 shares. The firm’s 50-day moving average price is $80.98 and its 200-day moving average price is $83.84. Tesoro Co. has a 12 month low of $69.49 and a 12 month high of $93.06. The stock has a market cap of $9.89 billion, a P/E ratio of 14.09 and a beta of 1.69.

Tesoro (NYSE:TSO) last announced its quarterly earnings results on Monday, May 8th. The oil and gas company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.16. Tesoro had a return on equity of 9.07% and a net margin of 2.99%. The business had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.46 billion. During the same period in the previous year, the firm earned $1.19 EPS. The business’s quarterly revenue was up 30.1% on a year-over-year basis. On average, analysts forecast that Tesoro Co. will post $5.14 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Friday, May 19th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $2.20 annualized dividend and a dividend yield of 2.64%. Tesoro’s dividend payout ratio is presently 35.95%.

A number of research firms have commented on TSO. Piper Jaffray Companies set a $102.00 price objective on shares of Tesoro and gave the stock a “buy” rating in a research report on Wednesday, February 8th. Simmons reduced their price objective on shares of Tesoro from $103.00 to $102.00 and set an “overweight” rating for the company in a research report on Wednesday, February 8th. Royal Bank of Canada reaffirmed a “hold” rating and set a $99.00 price objective on shares of Tesoro in a research report on Wednesday, February 8th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Tesoro in a research report on Wednesday, February 8th. Finally, Scotiabank reaffirmed a “buy” rating on shares of Tesoro in a research report on Wednesday, February 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Tesoro currently has an average rating of “Buy” and an average price target of $103.67.

Tesoro Company Profile

Tesoro Corporation (Tesoro) is an independent petroleum refining, logistics and marketing company. he Company operates through three segments. The Refining operating segment refines crude oil and other feedstocks into transportation fuels, such as gasoline and gasoline blendstocks, jet fuel and diesel fuel, as well as other products, including heavy fuel oils, liquefied petroleum gas and petroleum coke for sale in bulk markets to a range of customers within its markets.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “TSO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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