Incline Global Management adds Tesoro Corporation (TSO) to its portfolio

Tesoro Corporation (TSO) : Incline Global Management added new position in Tesoro Corporation during the most recent quarter end. The investment management firm now holds 392,526 shares of Tesoro Corporation which is valued at $29,584,685 , the company said in a statement filed on Aug 15, 2016 with the SEC.Tesoro Corporation makes up approximately 6.85% of Incline Global Management’s portfolio.

Other Hedge Funds, Including , Bocage Capital sold out all of its stake in TSO during the most recent quarter. The investment firm sold 153,364 shares of TSO which is valued $11,559,045. Strategic Global Advisors added TSO to its portfolio by purchasing 5,394 company shares during the most recent quarter which is valued at $406,546. Tesoro Corporation makes up approx 0.15% of Strategic Global Advisors’s portfolio.Burney Co reduced its stake in TSO by selling 172 shares or 5.53% in the most recent quarter. The Hedge Fund company now holds 2,937 shares of TSO which is valued at $221,362. Tesoro Corporation makes up approx 0.02% of Burney Co’s portfolio.Assetmark Inc boosted its stake in TSO in the latest quarter, The investment management firm added 6,959 additional shares and now holds a total of 7,673 shares of Tesoro Corporation which is valued at $583,071. Tesoro Corporation makes up approx 0.01% of Assetmark Inc’s portfolio. Courier Capital Corp sold out all of its stake in TSO during the most recent quarter. The investment firm sold 3,224 shares of TSO which is valued $248,667.

Tesoro Corporation closed down -2.11 points or -2.80% at $73.31 with 23,25,103 shares getting traded on Thursday. Post opening the session at $75.29, the shares hit an intraday low of $73.03 and an intraday high of $75.41 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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 Initiated by Jefferies to “Buy” on Aug 23, 2016. 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.

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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