Corsair Capital Management Lowers stake in Tesoro Corporation (TSO)

Tesoro Corporation (TSO) : Corsair Capital Management reduced its stake in Tesoro Corporation by 10.35% during the most recent quarter end. The investment management company now holds a total of 46,842 shares of Tesoro Corporation which is valued at $3,559,524 after selling 5,408 shares in Tesoro Corporation , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Tesoro Corporation makes up approximately 0.53% of Corsair Capital Management’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Investment Partners S.a. reduced its stake in TSO by selling 3,704 shares or 4.8% in the most recent quarter. The Hedge Fund company now holds 73,509 shares of TSO which is valued at $5,585,949. Tesoro Corporation makes up approx 0.05% of Bnp Paribas Investment Partners S.a.’s portfolio.Alphamark Advisors boosted its stake in TSO in the latest quarter, The investment management firm added 4,633 additional shares and now holds a total of 48,105 shares of Tesoro Corporation which is valued at $3,593,925. Tesoro Corporation makes up approx 2.09% of Alphamark Advisors’s portfolio. Spot Trading L.l.c sold out all of its stake in TSO during the most recent quarter. The investment firm sold 15,255 shares of TSO which is valued $1,176,618.Wedge Capital Management L L Pnc boosted its stake in TSO in the latest quarter, The investment management firm added 43,577 additional shares and now holds a total of 50,081 shares of Tesoro Corporation which is valued at $3,813,668. Tesoro Corporation makes up approx 0.04% of Wedge Capital Management L L Pnc’s portfolio.Clarivest Asset Management reduced its stake in TSO by selling 184,612 shares or 99.51% in the most recent quarter. The Hedge Fund company now holds 912 shares of TSO which is valued at $69,449.

Tesoro Corporation opened for trading at $75.83 and hit $76.5 on the upside on Monday, eventually ending the session at $76.4, with a gain of 1.37% or 1.03 points. The heightened volatility saw the trading volume jump to 15,21,117 shares. Company has a market cap of $9,076 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 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 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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