Paradigm Asset Management Co buys $5.5 Million stake in Tesoro Corporation (TSO)

Tesoro Corporation (TSO) : Paradigm Asset Management Co scooped up 21,751 additional shares in Tesoro Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 72,401 shares of Tesoro Corporation which is valued at $5.5 Million.Tesoro Corporation makes up approximately 1.03% of Paradigm Asset Management Co’s portfolio.

Other Hedge Funds, Including , Gerstein Fisher sold out all of its stake in TSO during the most recent quarter. The investment firm sold 2,745 shares of TSO which is valued $208,922.Los Angeles Capital Management Equity Research Inc boosted its stake in TSO in the latest quarter, The investment management firm added 36,013 additional shares and now holds a total of 551,561 shares of Tesoro Corporation which is valued at $43 Million. Tesoro Corporation makes up approx 0.38% of Los Angeles Capital Management Equity Research Inc’s portfolio. Cadence Capital Management added TSO to its portfolio by purchasing 27,491 company shares during the most recent quarter which is valued at $2.1 Million. Tesoro Corporation makes up approx 0.15% of Cadence Capital Management’s portfolio. Checchi Capital Advisers added TSO to its portfolio by purchasing 980 company shares during the most recent quarter which is valued at $76,362. Tesoro Corporation makes up approx 0.02% of Checchi Capital Advisers’s portfolio.

Tesoro Corporation opened for trading at $78.08 and hit $79.18 on the upside on Friday, eventually ending the session at $79.09, with a gain of 1.59% or 1.24 points. The heightened volatility saw the trading volume jump to 15,21,335 shares. Company has a market cap of $9,489 M.

On the company’s financial health, Tesoro Corporation reported $1.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on May 4, 2016. Analyst had a consensus of $1.05. The company had revenue of $5101.00 million for the quarter, compared to analysts expectations of $5296.43 million. The company’s revenue was down -21.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.98 EPS.

Many Wall Street Analysts have commented on Tesoro Corporation. Shares were Reiterated by Barclays on Apr 8, 2016 to “Overweight” and Lowered the Price Target to $ 114 from a previous price target of $120 .Tesoro Corporation was Upgraded by BofA/Merrill to ” Buy” on Mar 3, 2016.

Tesoro Corporation is an independent petroleum refining and marketing company. Through its subsidiaries the Company primarily transports crude oil and manufactures transports and sells transportation fuels. The Company operates through three business segments: Refining operating segment which owns and perates six petroleum refineries with a combined crude oil capacity of 850 thousand barrels per day (Mbpd) located in the western United States and sells transportation fuels to a variety of customers; 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 terminalling transportation and storage assets and Retail operating segment which sells transportation fuels in approximately 16 states through a network of approximately 2267 retail stations under the ARCO Shell Exxon Mobil USA Gasoline and Tesoro brands.

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