Viking Fund Management LLC Has $20,288,000 Position in Tesoro Corp. (TSO)
Viking Fund Management LLC increased its position in shares of Tesoro Corp. (NYSE:TSO) by 21.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 255,000 shares of the company’s stock after buying an additional 45,000 shares during the period. Tesoro Corp. makes up 3.3% of Viking Fund Management LLC’s investment portfolio, making the stock its 11th largest position. Viking Fund Management LLC owned about 0.21% of Tesoro Corp. worth $20,288,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in TSO. Signaturefd LLC raised 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. Acrospire Investment Management LLC acquired a new position in Tesoro Corp. during the first quarter worth approximately $103,000. Zions Bancorporation raised its position in Tesoro Corp. by 2,912.2% in the first quarter. Zions Bancorporation now owns 1,235 shares of the company’s stock worth $106,000 after buying an additional 1,194 shares in the last quarter. Advisor Group Inc. acquired a new position in Tesoro Corp. during the second quarter worth approximately $118,000. Finally, Daiwa SB Investments Ltd. raised its position in Tesoro Corp. by 8.0% in the second quarter. Daiwa SB Investments Ltd. now owns 1,620 shares of the company’s stock worth $122,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 88.41% of the company’s stock.
Shares of Tesoro Corp. (NYSE:TSO) traded up 1.10% during midday trading on Thursday, hitting $81.63. The company’s stock had a trading volume of 956,837 shares. The company has a 50-day moving average price of $79.51 and a 200 day moving average price of $78.62. The company has a market cap of $9.75 billion, a P/E ratio of 7.64 and a beta of 2.03. Tesoro Corp. has a 1-year low of $67.80 and a 1-year high of $119.67.
Tesoro Corp. (NYSE:TSO) last announced its earnings results on Wednesday, August 3rd. The company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $1.70. The firm had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $5.87 billion. Tesoro Corp. had a net margin of 5.12% and a return on equity of 20.15%. The business’s revenue was down 23.7% compared to the same quarter last year. During the same period in the prior year, the company earned $4.59 EPS. On average, equities research analysts predict that Tesoro Corp. will post $5.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.72%. This is a boost from Tesoro Corp.’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, August 29th. Tesoro Corp.’s dividend payout ratio is currently 20.72%.
TSO has been the topic of a number of recent analyst reports. Wells Fargo & Co. reissued a “hold” rating on shares of Tesoro Corp. in a research note on Sunday, July 10th. Simmons reissued an “overweight” rating and issued a $82.00 price objective (up previously from $78.00) on shares of Tesoro Corp. in a research note on Monday, August 8th. Barclays PLC reissued an “overweight” rating and issued a $105.00 price objective on shares of Tesoro Corp. in a research note on Tuesday, August 2nd. Zacks Investment Research raised Tesoro Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, September 22nd. Finally, Wolfe Research raised Tesoro Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, June 20th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $101.63.
In other Tesoro Corp. news, CFO Steven Sterin bought 1,100 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were purchased at an average cost of $73.93 per share, for a total transaction of $81,323.00. Following the transaction, the chief financial officer now owns 8,152 shares of the company’s stock, valued at $602,677.36. The transaction was disclosed in a legal filing with the SEC, which is available 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.
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