Hound Partners Lowers stake in Tesoro Corporation (TSO)

Tesoro Corporation (TSO) : Hound Partners reduced its stake in Tesoro Corporation by 0.35% during the most recent quarter end. The investment management company now holds a total of 4,971,509 shares of Tesoro Corporation which is valued at $429,090,942 after selling 17,494 shares in Tesoro Corporation , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Tesoro Corporation makes up approximately 12.29% of Hound Partners’s portfolio.

Other Hedge Funds, Including , Samlyn Capital boosted its stake in TSO in the latest quarter, The investment management firm added 317,400 additional shares and now holds a total of 745,400 shares of Tesoro Corporation which is valued at $64,335,474. Tesoro Corporation makes up approx 1.59% of Samlyn Capital’s portfolio. Sii Investments Incwi added TSO to its portfolio by purchasing 3,781 company shares during the most recent quarter which is valued at $319,910. Tesoro Corporation makes up approx 0.02% of Sii Investments Incwi’s portfolio. Catalyst Capital Advisors sold out all of its stake in TSO during the most recent quarter. The investment firm sold 51,590 shares of TSO which is valued $4,365,030.Corsair Capital Management reduced its stake in TSO by selling 688 shares or 1.47% in the most recent quarter. The Hedge Fund company now holds 46,154 shares of TSO which is valued at $3,905,090. Tesoro Corporation makes up approx 0.63% of Corsair Capital Management’s portfolio.Transamerica Financial Advisors boosted its stake in TSO in the latest quarter, The investment management firm added 1,170 additional shares and now holds a total of 13,716 shares of Tesoro Corporation which is valued at $1,103,178. Tesoro Corporation makes up approx 0.12% of Transamerica Financial 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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