Major Move Is Coming For Tesoro Corporation After Bearish Options Activity

 Major Move Is Coming For Tesoro Corporation After Bearish Options Activity

In today’s session Tesoro Corporation (TSO) recorded an unusually high (512) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious TSO decrease. With 512 contracts traded and 11994 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: TSO161118P00075000 closed last at: $0.7 or 18.6% up. About 949,099 shares traded hands. Tesoro Corporation (NYSE:TSO) has declined 6.91% since March 29, 2016 and is downtrending. It has underperformed by 10.38% the S&P500.

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. $140.0 is the highest target while $90 is the lowest. The $112.43 average target is 32.21% above today’s ($85.04) stock price. Tesoro Corporation has been the topic of 33 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Monday, July 11 by Howard Weil. Bank of America maintained Tesoro Corporation (NYSE:TSO) rating on Wednesday, February 3. Bank of America has “Overweight” rating and $120 price target. The firm has “Buy” rating by Jefferies given on Tuesday, August 23. The firm has “Buy” rating given on Wednesday, October 19 by Citigroup. The rating was initiated by Macquarie Research on Friday, July 24 with “Outperform”. The firm earned “Sector Perform” rating on Friday, August 14 by Howard Weil. The stock of Tesoro Corporation (NYSE:TSO) has “Neutral” rating given on Wednesday, June 15 by Credit Suisse. Deutsche Bank downgraded Tesoro Corporation (NYSE:TSO) rating on Thursday, December 10. Deutsche Bank has “Hold” rating and $128 price target. The firm has “Sector Perform” rating given on Thursday, December 10 by RBC Capital Markets. On Wednesday, June 29 the stock rating was upgraded by Goldman Sachs to “Buy”.

According to Zacks Investment Research, “Tesoro was founded in 1968 as a company primarily engaged in petroleum exploration and production. In 1969, Tesoro began operating Alaska’s first refinery near Kenai. Today, Tesoro is a FORTUNE 500 company and one of the largest independent petroleum refiners and marketers in the Western United States.”

Insitutional Activity: The institutional sentiment is 0.86 in Q2 2016. Its the same as in 2016Q1. The ratio has no change, 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.
Financial Architects Incorporated holds 0% of its portfolio in Tesoro Corporation (NYSE:TSO) for 44 shares. Paradigm Asset Mngmt Ltd Liability accumulated 0% or 10,592 shares. Strategy Asset Managers Llc has invested 0.39% of its portfolio in Tesoro Corporation (NYSE:TSO). Wedge L L P Nc owns 50,081 shares or 0% of their US portfolio. Moreover, Brick Kyle Assoc has 0% invested in Tesoro Corporation (NYSE:TSO) for 50 shares. The California-based Strategic Global Ltd Liability Corporation has invested 0.15% in Tesoro Corporation (NYSE:TSO). Point72 Asset Mgmt Limited Partnership owns 1.67 million shares or 0.85% of their US portfolio. Blackrock Fund Advsrs holds 0.04% or 2.22M shares in its portfolio. Css Lc Il last reported 0.05% of its portfolio in the stock. Commonwealth Financial Bank Of Aus owns 41,572 shares or 0.04% of their US portfolio. Allianz Asset Mngmt Ag last reported 0.03% of its portfolio in the stock. The New York-based Tower Rech Ltd Llc (Trc) has invested 0% in Tesoro Corporation (NYSE:TSO). Zurcher Kantonalbank (Zurich Cantonalbank) has 24,044 shares for 0.02% of their US portfolio. Old Mutual Customised Solutions (Proprietary) Ltd holds 0.09% or 4,900 shares in its portfolio. Gargoyle Investment Advisor Limited Co accumulated 0.61% or 21,779 shares.

Insider Transactions: Since May 9, 2016, the stock had 4 buys, and 2 sales for $11,317 net activity. The insider LILLEY DAVID bought $77,870. Sterin Steven had bought 2,000 shares worth $153,770. $112,905 worth of Tesoro Corporation (NYSE:TSO) was bought by GALANTE EDWARD G on Monday, May 9. $201,753 worth of shares were sold by GOLDMAN ROBERT W on Monday, May 9. 2,660 shares with value of $212,800 were sold by Schofield Daryl R on Monday, May 23.

Tesoro Corporation is an independent petroleum refining and marketing company. The company has a market cap of $10.14 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 8.08 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).

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 news for Tesoro Corporation (NYSE:TSO) were recently published by: Seekingalpha.com, which released: “Tesoro Corporation: A Strong Buy” on October 18, 2016. Investorplace.com‘s article titled: “Trade of the Day: Tesoro Corporation (TSO) Ready for a Leg Up” and published on October 26, 2016 is yet another important article.

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