Last $76.62 USD
Change Today -1.73 / -2.21%
Volume 1.9M
TSO On Other Exchanges
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As of 1:40 PM 11/28/14 All times are local (Market data is delayed by at least 15 minutes).

tesoro corp (TSO) Snapshot

Open
$76.45
Previous Close
$78.35
Day High
$77.66
Day Low
$75.46
52 Week High
11/21/14 - $79.49
52 Week Low
02/6/14 - $46.40
Market Cap
9.7B
Average Volume 10 Days
3.0M
EPS TTM
$5.62
Shares Outstanding
126.2M
EX-Date
11/25/14
P/E TM
13.6x
Dividend
$1.20
Dividend Yield
1.44%
Current Stock Chart for TESORO CORP (TSO)

tesoro corp (TSO) Details

Tesoro Corporation, together with its subsidiaries, is engaged in refining and marketing petroleum products in the United States. It operates in two segments, Refining and Retail. The Refining segment refines crude oil and other feed stocks into transportation fuels, such as gasoline, gasoline blend stocks, jet fuel, and diesel fuel, as well as other products, including heavy fuel oils, liquefied petroleum gas, petroleum coke, and asphalt. This segment also sells refined products in the wholesale market primarily through independent unbranded distributors; and in the bulk market primarily to independent unbranded distributors, other refining and marketing companies, utilities, railroads, airlines, marine, and industrial end-users in the western United States. It owns and operates 6 refineries with a combined crude oil capacity of approximately 850 thousand barrels per day. The Retail segment sells gasoline, diesel fuel, and convenience store items through company-operated retail stations, and third-party branded dealers and distributors in the western United States. As of July 21, 2014, it operated approximately 2,200 retail stations under the Tesoro, Shell, ARCO, Mobil, Exxon, and USA Gasoline brands. Tesoro Corporation was founded in 1939 and is headquartered in San Antonio, Texas.

7,000 Employees
Last Reported Date: 02/24/14
Founded in 1939

tesoro corp (TSO) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $1.4M
Executive Vice President, General Counsel and...
Total Annual Compensation: $534.6K
Compensation as of Fiscal Year 2013.

tesoro corp (TSO) Key Developments

Tesoro Corporation Announces Executive Changes

Tesoro Corporation announced that Steven H. Grapstein will be stepping down as non-executive Chair of the Board, effective December 31, 2014, but will remain as a member of the Board of Directors. Greg Goff, the company's President and CEO, will become Chair of the Board on December 31, 2014. Susan Tomasky, the Chair of the Governance Committee, will become independent Lead Director. Grapstein has served on Tesoro's Board of Directors since 1994, as Lead Director starting in 2002 and then as Chair of the Board since 2010. He also serves as a director of Mulberry Group plc. Goff has served as Tesoro's President and Chief Executive Officer since May 2010. He also serves on the boards of Tesoro Logistics, LP. Tomasky has served on Tesoro's Board of Directors since 2011 and is currently the Chair of Tesoro's Governance Committee, which she will continue to lead after she assumes the role of Lead Director.

Potential Buyers Reportedly Check Refineries Of CITGO Petroleum

Potential buyers from at least six leading oil companies have visited refinery in Illinois of CITGO Petroleum Corporation and three firms have shown keen interest in its Texas plant, reported Reuters citing four sources familiar with efforts to sell the assets. It is unclear if CITGO's owner, Petróleos de Venezuela S.A., will go ahead with a sale of its U.S. refining and marketing unit. Both Venezuela's president and finance minister have said in the past month that Citgo's assets would not be sold. But Lazard Ltd, the investment bank hired by CITGO to carry out the sale, is still marketing the refinery, three people told Reuters. The sources familiar with the sale efforts said that visits to the Illinois refinery have been made as recently as this week. Sources told Reuters that teams from the following companies have carried out detailed inspections of the Illinois refinery: Reliance Industries Limited (BSE:500325), PBF Energy Inc. (NYSE:PBF), UTesoro Corporation (NYSE:TSO), Marathon Petroleum Corporation (NYSE:MPC), Valero Energy Corporation (NYSE:VLO) and Phillips 66 (NYSE:PSX). Sources said that Representatives from Phillips 66 visited the Lemont refinery this week. One of the source said, "I don't care what they are saying in Venezuela, potential buyers are still coming in." Gary Heminger, President of Chief Executive Officer of Marathon Petroleum in an interview with Reuters, declined to discuss the CITGO sale, but said the company would carefully weigh refineries on the auction block. Heminger said, "We will always study and do our homework and due diligence on assets that are available." The sources said that the three companies showing the deepest interest in the Corpus Christi refinery are Valero, Flint Hills Resources, LLC and Chevron Corporation (NYSE:CVX). The sources said that Chevron, which was examining reliability records at the Corpus Christi refinery last month, could add a crude distillation unit at Citgo's west plant to run sweet crude from the Eagle Ford oil fields in south Texas while the existing CDU continues to run sour crude oil like that produced by Venezuela. A CITGO spokesman did not respond to Reuters when asked about visits to the refineries made by potential buyers. Marathon, Phillips 66, Tesoro and Valero representatives declined to discuss their companies' possible interest in Citgo's assets. PBF and Reliance did not reply to requests for comment. A Chevron spokesman declined to discuss merger and acquisition activity.

Tesoro Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Declares Quarterly Cash Dividend, Payable on December 15, 2014; Provides Production Guidance for the Fourth Quarter of 2014 and Capital Spending Guidance for the Year 2014 and EBITDA Guidance for the Year 2015

Tesoro Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net earnings attributable to the company of $396 million, or $3.05 per diluted share compared to net earnings attributable to the company of $99 million, or $0.72 per diluted share for the third quarter of 2013. The third quarter of 2013 results included discontinued operations of $0.26 per diluted share related to the sale of the Hawaii business. Net earnings from continuing operations were $414 million or $3.06 per diluted share compared to $74 million or $0.46 per diluted share for the third quarter of 2013. The third quarter of 2013 results included one-time special items of $0.02 per diluted share related to integration costs, legal reserves, insurance proceeds and an inventory adjustment. Revenue of $11,151 million compared to $11,241 million a year ago. Operating income was $702 million compared to $146 million a year ago. Earnings before income taxes were $663 million compared to $121 million a year ago. EBITDA was $840 million compared to $298 million a year ago. Net earnings adjusted for special items were $397 million or $3.06 per diluted share compared to $60 million or $0.44 per diluted share a year ago. Capital spending for the third quarter 2014 was $131 million. Turnaround expenditures for the third quarter were $19 million. For the nine months, the company reported revenue of $32,188 million compared to $27,485 million a year ago. Operating income was $1,350 million compared to $703 million a year ago. Earnings before income taxes were $1,195 million compared to $671 million a year ago. Net earnings from continuing operations were $758 million or $5.32 per diluted share compared to $428 million or $2.86 per diluted share a year ago. Net earnings attributable to the company were $698 million, or $5.30 per diluted share compared to net earnings attributable to the company of $419 million, or $3.03 per diluted share a year ago. EBITDA was $1,714 million compared to $1,104 million a year ago. Total consolidated debt was $2.9 billion. The company also announced that the board of directors has declared a regular quarterly cash dividend of $0.30 per share payable on December 15, 2014, to all holders of record as of November 28, 2014. For the fourth quarter, the company estimate throughput to be in thousands of barrels per day, 495 to 515 on the California region; 160 to 170 in the Pacific Northwest; and 120 to 130 in the Mid-Continent. Depreciation for Tesoro refining was expected to be $105 million and $10 million for Tesoro Logistics. Interest expense will also include approximately $30 million of additional expense during the fourth quarter related to TLLP's financing and acquisition of QEP Field Services. The company now estimates full year 2014 capital spending, excluding TLLP, of $550 million, a $75 million reduction from prior guidance. The company expects full year 2014 turnaround spending of $195 million and deferred retail branding costs of $20 million. For the year 2015, the company expects annual EBITDA from existing business to grow $75 million to $100 million over 2014, primarily as a result of organic growth programs and the full year benefit from the acquisition of the West Coast Logistics Assets.

 

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Industry Analysis

TSO

Industry Average

Valuation TSO Industry Range
Price/Earnings 14.9x
Price/Sales 0.2x
Price/Book 2.2x
Price/Cash Flow 8.0x
TEV/Sales 0.1x
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