Short Interest Coverage: What’s Propelling Tesoro Corporation (NYSE:TSO) After Higher Shorts Reported?

November 17, 2016 - By Vivian Park   ·   0 Comments

Short Interest Coverage: What’s Propelling Tesoro Corporation (NYSE:TSO) After Higher Shorts Reported?

The stock of Tesoro Corporation (NYSE:TSO) registered an increase of 6.51% in short interest. TSO’s total short interest was 5.92 million shares in November as published by FINRA. Its up 6.51% from 5.55M shares, reported previously. With 2.92M shares average volume, it will take short sellers 2 days to cover their TSO’s short positions. The short interest to Tesoro Corporation’s float is 4.99%. About 5.95 million shares traded hands or 234.27% up from the average. Tesoro Corporation (NYSE:TSO) has risen 5.89% since April 15, 2016 and is uptrending. It has outperformed by 1.27% the S&P500.

Tesoro Corporation is an independent petroleum refining and marketing company. The company has a market cap of $10.04 billion. The Firm operates through three business divisions: Refining operating segment (Refining), which owns and operates refineries, and refines crude oil and other feedstocks into transportation fuels; TLLP, a publicly traded limited partnership, which includes certain natural gas and crude oil gathering assets, natural gas processing and crude oil and refined products terminaling, and transportation and storage assets, and marketing segment (Marketing), which sells transportation fuels. It has a 14.85 P/E ratio. The Company’s Refining segment owns and operates approximately six petroleum refineries with a combined crude oil capacity of over 850 thousand barrels per day (Mbpd).

Insitutional Activity: The institutional sentiment is 0.86 in 2016 Q2. Its the same as in 2016Q1. The ratio is flat, as 68 funds sold all Tesoro Corporation shares owned while 169 reduced positions. only 46 funds bought stakes while 158 increased positions. They now own 103.81 million shares or 6.40% less from 110.92 million shares in 2016Q1.
Sg Americas Secs Llc holds 0% or 7,913 shares in its portfolio. Ls Invest Advisors Ltd Liability Com holds 0.02% or 4,500 shares in its portfolio. Ahl Prns Ltd Liability Partnership has 11,122 shares for 0.05% of their US portfolio. Engineers Gate Manager L P has invested 0.07% of its portfolio in Tesoro Corporation (NYSE:TSO). Meiji Yasuda Life Ins, a Japan-based fund reported 3,570 shares. Kcg Holdings last reported 0.03% of its portfolio in the stock. Ny State Common Retirement Fund last reported 510,763 shares in the company. Legacy Private holds 0.09% of its portfolio in Tesoro Corporation (NYSE:TSO) for 7,843 shares. Joel Isaacson & Ltd, a New York-based fund reported 400 shares. Moreover, Westpac Banking Corp has 0% invested in Tesoro Corporation (NYSE:TSO) for 286,315 shares. Mu Invests Com Limited accumulated 0.1% or 1,980 shares. Pitcairn accumulated 0.15% or 15,936 shares. Spirit Of America Mngmt, a New York-based fund reported 2,000 shares. Peak6 Investments Lp accumulated 0% or 6,185 shares. Piedmont Investment Advisors Ltd Liability has 22,154 shares for 0% of their US portfolio.

Insider Transactions: Since May 23, 2016, the stock had 1 insider buy, and 1 sale for $131,475 net activity. The insider Sterin Steven bought 1,100 shares worth $81,325. $212,800 worth of shares were sold by Schofield Daryl R on Monday, May 23.

Tesoro Corporation (NYSE:TSO) Ratings Coverage

Out of 14 analysts covering Tesoro Corporation (NYSE:TSO), 12 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 86% are positive. Tesoro Corporation has been the topic of 33 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating given on Friday, August 14 by Howard Weil. The company was maintained on Wednesday, February 3 by Bank of America. The rating was maintained by Credit Suisse on Monday, April 11 with “Outperform”. The firm earned “Sector Perform” rating on Sunday, August 16 by Scotia Capital. The firm earned “Outperform” rating on Monday, November 23 by Oppenheimer. The firm has “Sector Perform” rating given on Friday, August 7 by RBC Capital Markets. The firm earned “Hold” rating on Thursday, December 10 by Deutsche Bank. The company was maintained on Wednesday, October 19 by Citigroup. Goldman Sachs upgraded the stock to “Buy” rating in Wednesday, June 29 report. UBS initiated the stock with “Buy” rating in Thursday, May 19 report.

TSO Company Profile

Tesoro Corporation (Tesoro), incorporated on December 26, 1968, is an independent petroleum refining and marketing company. The Firm operates through three business divisions: Refining operating segment (Refining), which owns and operates refineries, and refines crude oil and other feedstocks into transportation fuels; TLLP, a publicly traded limited partnership, which includes certain natural gas and crude oil gathering assets, natural gas processing and crude oil and refined products terminaling, and transportation and storage assets, and marketing segment (Marketing), which sells transportation fuels. The Company’s Refining segment owns and operates approximately six petroleum refineries with a combined crude oil capacity of over 850 thousand barrels per day (Mbpd). TLLP’s business operates in three divisions: Gathering, Processing, and Terminalling and Transportation. The Marketing segment sells transportation fuels in approximately 20 states through a network of approximately 2,270 retail stations.

More important recent Tesoro Corporation (NYSE:TSO) news were published by: Seekingalpha.com which released: “Tesoro Corporation: A Strong Buy” on October 18, 2016, also Finance.Yahoo.com published article titled: “TESORO CORPORATION REPORTS 2016 THIRD QUARTER RESULTS”, Equitiesfocus.com published: “Tesoro Corporation (NYSE:TSO) 50-day Moving Average At $81.90” on November 17, 2016. More interesting news about Tesoro Corporation (NYSE:TSO) was released by: Investorplace.com and their article: “Trade of the Day: Tesoro Corporation (TSO) Ready for a Leg Up” with publication date: October 26, 2016.

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By Vivian Park


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