Balyasny Asset Management adds Tesoro Corporation (TSO) to its portfolio

Tesoro Corporation (TSO) : Balyasny Asset Management added new position in Tesoro Corporation during the most recent quarter end. The investment management firm now holds 2,022,305 shares of Tesoro Corporation which is valued at $174,545,145 , the company said in a statement filed on Nov 14, 2016 with the SEC.Tesoro Corporation makes up approximately 1.05% of Balyasny Asset Management’s portfolio.

Other Hedge Funds, Including , Johnson Financial Group reduced its stake in TSO by selling 1,360 shares or 23.61% in the most recent quarter. The Hedge Fund company now holds 4,401 shares of TSO which is valued at $379,850. Tesoro Corporation makes up approx 0.05% of Johnson Financial Group’s portfolio.Alliancebernstein reduced its stake in TSO by selling 2,020 shares or 0.92% in the most recent quarter. The Hedge Fund company now holds 217,869 shares of TSO which is valued at $18,433,896. Tesoro Corporation makes up approx 0.02% of Alliancebernstein’s portfolio.California State Teachers Retirement System boosted its stake in TSO in the latest quarter, The investment management firm added 2,200 additional shares and now holds a total of 262,236 shares of Tesoro Corporation which is valued at $21,828,525. Tesoro Corporation makes up approx 0.05% of California State Teachers Retirement System’s portfolio.Arizona State Retirement System reduced its stake in TSO by selling 200 shares or 0.68% in the most recent quarter. The Hedge Fund company now holds 29,210 shares of TSO which is valued at $2,335,047. Tesoro Corporation makes up approx 0.04% of Arizona State Retirement System’s portfolio.Nationwide Fund Advisors reduced its stake in TSO by selling 3,653 shares or 2.75% in the most recent quarter. The Hedge Fund company now holds 129,411 shares of TSO which is valued at $10,329,586. Tesoro Corporation makes up approx 0.04% of Nationwide Fund Advisors’s portfolio.

Tesoro Corporation closed down -3.34 points or -3.86% at $83.22 with 39,17,544 shares getting traded on Monday. Post opening the session at $85.86, the shares hit an intraday low of $83.12 and an intraday high of $85.86 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Tesoro Corporation reported $1.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 31, 2016. Analyst had a consensus of $1.42. The company had revenue of $6544.00 million for the quarter, compared to analysts expectations of $8229.42 million. The company’s revenue was down -15.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $6.13 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 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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