Tesoro Corporation (TSO) Releases Earnings Results, Beats Expectations By $0.14 EPS

Tesoro Corporation (TSO) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $1.19 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.14. Analysts had a consensus of $1.05. The company posted revenue of $5101.00 million in the period, 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 opened for trading at $79.25 and hit $81.26 on the upside on Monday, eventually ending the session at $81.03, with a gain of 1.68% or 1.34 points. The heightened volatility saw the trading volume jump to 21,20,679 shares. Company has a market cap of $9,714 M.

In a different news, on Feb 8, 2016, Steven Sterin (CFO) purchased 1,282 shares at $78.16 per share price. According to the SEC, on Jan 7, 2016, Rodney F Chase (director) sold 12,996 shares at $109.08 per share price. On Jan 6, 2016, Charles S Parrish (EVP, Gen Counsel & Secretary) purchased 47 shares at $106.89 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

Tesoro Corporation

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