Accuvest Global Advisors Lowers stake in Tesoro Corporation (TSO)

Tesoro Corporation (TSO) : Accuvest Global Advisors reduced its stake in Tesoro Corporation by 31.1% during the most recent quarter end. The investment management company now holds a total of 3,900 shares of Tesoro Corporation which is valued at $293,943 after selling 1,760 shares in Tesoro Corporation , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Tesoro Corporation makes up approximately 0.17% of Accuvest Global Advisors’s portfolio.

Other Hedge Funds, Including , Dimensional Fund Advisors Lp boosted its stake in TSO in the latest quarter, The investment management firm added 10,433 additional shares and now holds a total of 2,090,416 shares of Tesoro Corporation which is valued at $161,944,528. Tesoro Corporation makes up approx 0.09% of Dimensional Fund Advisors Lp’s portfolio. Amica Retiree Medical Trust added TSO to its portfolio by purchasing 709 company shares during the most recent quarter which is valued at $54,685. Tesoro Corporation makes up approx 0.05% of Amica Retiree Medical Trust’s portfolio.

Tesoro Corporation opened for trading at $74.66 and hit $76.01 on the upside on Tuesday, eventually ending the session at $75.15, with a gain of 0.98% or 0.73 points. The heightened volatility saw the trading volume jump to 17,99,745 shares. Company has a market cap of $8,927 M.

On the company’s financial health, Tesoro Corporation reported $3.47 EPS for the quarter, beating the analyst consensus estimate by $ 1.70 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $1.77. The company had revenue of $6285.00 million for the quarter, compared to analysts expectations of $6209.38 million. The company’s revenue was down -23.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $4.59 EPS.

Many Wall Street Analysts have commented on Tesoro Corporation. Tesoro Corporation was Initiated by Jefferies to “Buy” on Aug 23, 2016. Tesoro Corporation was Upgraded by Citigroup to ” Buy” on Jul 19, 2016. Tesoro Corporation was Upgraded by Scotia Howard Weil to ” Sector Outperform” on Jul 11, 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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