Dimensional Fund Advisors LP Has $183.02 Million Stake in Tesoro Corporation (TSO)
Dimensional Fund Advisors LP boosted its stake in Tesoro Corporation (NYSE:TSO) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,257,982 shares of the oil and gas company’s stock after buying an additional 14,154 shares during the period. Dimensional Fund Advisors LP owned approximately 1.93% of Tesoro Corporation worth $183,024,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Tesoro Corporation during the fourth quarter valued at $137,830,000. Boston Partners increased its position in shares of Tesoro Corporation by 42.4% in the first quarter. Boston Partners now owns 4,574,824 shares of the oil and gas company’s stock valued at $370,835,000 after buying an additional 1,361,943 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Tesoro Corporation during the fourth quarter valued at $85,395,000. Bank of New York Mellon Corp increased its position in shares of Tesoro Corporation 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 valued at $244,346,000 after buying an additional 830,819 shares in the last quarter. Finally, Luminus Management LLC purchased a new position in shares of Tesoro Corporation during the fourth quarter valued at $70,264,000. 91.83% of the stock is owned by institutional investors.
Shares of Tesoro Corporation (TSO) traded up 0.82% during mid-day trading on Friday, hitting $97.58. 1,173,345 shares of the stock traded hands. The firm has a 50 day moving average of $87.60 and a 200 day moving average of $84.59. The company has a market cap of $11.43 billion, a P/E ratio of 16.27 and a beta of 1.71. Tesoro Corporation has a 12 month low of $69.49 and a 12 month high of $97.76.
Tesoro Corporation (NYSE:TSO) last posted its quarterly earnings results on Monday, May 8th. The oil and gas company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.16. The firm had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.46 billion. Tesoro Corporation had a net margin of 2.74% and a return on equity of 7.89%. Tesoro Corporation’s quarterly revenue was up 30.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.19 earnings per share. Equities analysts anticipate that Tesoro Corporation will post $5.01 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Friday, May 19th were given a dividend of $0.55 per share. The ex-dividend date was Wednesday, May 17th. This represents a $2.20 dividend on an annualized basis and a yield of 2.25%. Tesoro Corporation’s payout ratio is presently 36.85%.
Several research analysts recently weighed in on TSO shares. Deutsche Bank AG raised shares of Tesoro Corporation from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a report on Monday, June 5th. Credit Suisse Group downgraded shares of Tesoro Corporation from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $110.00 to $93.00 in a report on Friday, March 24th. Morgan Stanley raised shares of Tesoro Corporation from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $100.00 to $110.00 in a report on Tuesday, May 30th. TheStreet downgraded shares of Tesoro Corporation from a “b” rating to a “c+” rating in a report on Thursday, May 11th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $104.00 price target (down previously from $109.00) on shares of Tesoro Corporation in a research note on Saturday, April 22nd. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $108.56.
In other news, CFO Steven Sterin purchased 1,150 shares of the stock in a transaction on Thursday, June 1st. The stock was bought at an average price of $83.75 per share, for a total transaction 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Lilley bought 500 shares of the stock in a transaction dated Thursday, June 1st. The stock was bought at an average price of $83.16 per share, with a total value of $41,580.00. Following the acquisition, the director now owns 15,134 shares in the company, valued at approximately $1,258,543.44. The disclosure for this purchase can be found here. 0.86% of the stock is owned by insiders.
Tesoro Corporation 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.
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