Adams Asset Advisors adds Tesoro Corporation (TSO) to its portfolio

Tesoro Corporation (TSO) : Adams Asset Advisors added new position in Tesoro Corporation during the most recent quarter end. The investment management firm now holds 44,625 shares of Tesoro Corporation which is valued at $3,648,540 , the company said in a statement filed on Oct 13, 2016 with the SEC.Tesoro Corporation makes up approximately 0.50% of Adams Asset Advisors’s portfolio.

Other Hedge Funds, Including , Viking Fund Management boosted its stake in TSO in the latest quarter, The investment management firm added 45,000 additional shares and now holds a total of 255,000 shares of Tesoro Corporation which is valued at $20,848,800. Tesoro Corporation makes up approx 3.35% of Viking Fund Management’s portfolio. Algert Global added TSO to its portfolio by purchasing 4,604 company shares during the most recent quarter which is valued at $374,167. Tesoro Corporation makes up approx 0.11% of Algert Global’s portfolio. Cutler Group Lp added TSO to its portfolio by purchasing 3,074 company shares during the most recent quarter which is valued at $246,873. Tesoro Corporation makes up approx 0.02% of Cutler Group Lp’s portfolio.Chevy Chase Trust Holdings reduced its stake in TSO by selling 3,508 shares or 3.4% in the most recent quarter. The Hedge Fund company now holds 99,819 shares of TSO which is valued at $8,226,084. Tesoro Corporation makes up approx 0.05% of Chevy Chase Trust Holdings’s portfolio.

Tesoro Corporation opened for trading at $81.44 and hit $82.68 on the upside on Tuesday, eventually ending the session at $81.27, with a gain of 1.20% or 0.96 points. The heightened volatility saw the trading volume jump to 18,26,212 shares. Company has a market cap of $9,654 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 Upgraded by Credit Suisse to ” Outperform” on Oct 11, 2016. 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 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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