Tesoro Corporation (TSO) Releases Earnings Results, Beats Expectations By $1.70 EPS

Tesoro Corporation (TSO) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $3.47 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $1.70. Analysts had a consensus of $1.77. The company posted revenue of $6285.00 million in the period, 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 Upgraded by Citigroup to ” Buy” on Jul 19, 2016. Tesoro Corporation was Upgraded by Scotia Howard Weil to ” Sector Outperform” on Jul 11, 2016. Company shares were Reiterated by Mizuho on Jul 5, 2016 to “Buy”, Firm has raised the Price Target to $ 94 from a previous price target of $67 .

Tesoro Corporation closed down -0.59 points or -0.79% at $73.98 with 24,59,581 shares getting traded on Tusday. Post opening the session at $74.93, the shares hit an intraday low of $72.78 and an intraday high of $76.24 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

In a different news, on May 25, 2016, Daryl R Schofield (SVP, Commercial) sold 2,660 shares at $80.00 per share price. According to the SEC, on May 17, 2016, Steven Sterin (CFO) purchased 2,000 shares at $76.89 per share price. On May 11, 2016, David Lilley (director) purchased 1,000 shares at $77.87 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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