Cibc World Markets Corp increased its position in Tesoro Corporation (NYSE:TSO) by 51.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,219 shares of the oil and gas company’s stock after buying an additional 4,172 shares during the period. Cibc World Markets Corp’s holdings in Tesoro Corporation were worth $990,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Dean Investment Associates LLC acquired a new stake in Tesoro Corporation during the third quarter valued at $410,000. SRB Corp increased its stake in Tesoro Corporation by 13.9% in the third quarter. SRB Corp now owns 2,087 shares of the oil and gas company’s stock valued at $166,000 after buying an additional 254 shares during the period. Highbridge Capital Management LLC acquired a new stake in Tesoro Corporation during the third quarter valued at $1,417,000. Clinton Group Inc. raised its position in shares of Tesoro Corporation by 52.0% in the third quarter. Clinton Group Inc. now owns 19,675 shares of the oil and gas company’s stock valued at $1,565,000 after buying an additional 6,734 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board raised its position in shares of Tesoro Corporation by 41.1% in the third quarter. Ontario Teachers Pension Plan Board now owns 28,062 shares of the oil and gas company’s stock valued at $2,233,000 after buying an additional 8,170 shares in the last quarter. Institutional investors own 91.92% of the company’s stock.

Institutional Ownership by Quarter for Tesoro Corporation (NYSE:TSO)

Tesoro Corporation (TSO) traded up 0.76% during midday trading on Friday, hitting $92.43. The company had a trading volume of 2,599,817 shares. Tesoro Corporation has a 12 month low of $69.49 and a 12 month high of $94.32. The company has a market cap of $10.82 billion, a price-to-earnings ratio of 15.41 and a beta of 1.76. The firm has a 50-day moving average price of $84.18 and a 200-day moving average price of $84.15.

Tesoro Corporation (NYSE:TSO) last released its quarterly earnings data on Monday, May 8th. The oil and gas company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.16. Tesoro Corporation had a net margin of 2.74% and a return on equity of 7.89%. The company had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.46 billion. During the same period in the previous year, the business earned $1.19 EPS. Tesoro Corporation’s revenue for the quarter was up 30.1% compared to the same quarter last year. Equities analysts anticipate that Tesoro Corporation will post $5.09 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Friday, May 19th were paid a $0.55 dividend. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $2.20 dividend on an annualized basis and a yield of 2.38%. Tesoro Corporation’s dividend payout ratio (DPR) is currently 36.85%.

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Several equities analysts have recently commented on the company. Royal Bank of Canada restated a “hold” rating and set a $98.00 price target on shares of Tesoro Corporation in a research note on Thursday, April 27th. Jefferies Group LLC set a $94.00 price target on Tesoro Corporation and gave the company a “buy” rating in a research note on Saturday, June 3rd. Scotiabank restated a “buy” rating and set a $91.00 price target on shares of Tesoro Corporation in a research note on Monday, March 27th. BidaskClub upgraded Tesoro Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 9th. Finally, Zacks Investment Research upgraded Tesoro Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $106.47.

In other Tesoro Corporation news, CFO Steven Sterin acquired 1,150 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was purchased at an average price of $83.75 per share, with a total value of $96,312.50. Following the acquisition, the chief financial officer now directly owns 9,942 shares of the company’s stock, valued at approximately $832,642.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David Lilley acquired 500 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was acquired at an average cost of $83.16 per share, with a total value of $41,580.00. Following the acquisition, the director now directly owns 15,134 shares in the company, valued at $1,258,543.44. The disclosure for this purchase can be found here. 0.86% of the stock is currently owned by corporate insiders.

About Tesoro Corporation

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.

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