Zacks Investment Research cut shares of Tesoro Logistics LP (NASDAQ:TLLP) from a hold rating to a sell rating in a report published on Tuesday morning.

According to Zacks, “Tesoro Logistics LP is a limited partnership formed to own, operate, develop and acquire crude oil and refined products logistics assets. The Company’s logistics assets are used to gather, transport and store crude oil and to distribute, transport and store refined products. Tesoro Logistics operates its business through two business segments: Crude Oil Gathering and Terminalling, Transportation and Storage. “

A number of other research analysts also recently commented on TLLP. Jefferies Group initiated coverage on Tesoro Logistics in a research note on Tuesday, August 23rd. They issued a hold rating and a $49.00 price target for the company. Mizuho initiated coverage on Tesoro Logistics in a research note on Thursday, September 29th. They issued a buy rating and a $58.00 price target for the company.

Tesoro Logistics (NASDAQ:TLLP) traded down 0.585% on Tuesday, hitting $46.705. 58,304 shares of the stock traded hands. The stock has a 50-day moving average of $47.23 and a 200-day moving average of $47.23. Tesoro Logistics has a 12-month low of $35.18 and a 12-month high of $56.92. The firm has a market cap of $4.72 billion and a price-to-earnings ratio of 20.972.

Tesoro Logistics (NASDAQ:TLLP) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.12. The company earned $293 million during the quarter, compared to analyst estimates of $275 million. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 earnings per share. Analysts forecast that Tesoro Logistics will post $2.63 earnings per share for the current year.

In related news, CFO Steven Sterin acquired 1,600 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The shares were bought at an average cost of $47.34 per share, with a total value of $75,744.00. Following the completion of the purchase, the chief financial officer now directly owns 2,514 shares in the company, valued at $119,012.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

About Tesoro Logistics

Tesoro Logistics LP (TLLP) owns, operates, develops and acquires logistics assets. TLLP is a logistics company operating primarily in the western and mid-continent regions of the United States. The Company operates through three segments: Gathering, Processing, and Terminalling and Transportation. Its gathering systems include crude oil and natural gas pipeline gathering systems in the Bakken Shale/Williston Basin area of North Dakota and Montana and the Green River Basin, Uinta Basin and Vermillion Basin in the states of Utah, Colorado and Wyoming.

5 Day Chart for NASDAQ:TLLP

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