In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Tesoro Corporation (NYSE:TSO) reported that Foster Paul L has picked up 8,510,359 of common stock as of 2017-06-08.
The acquisition brings the aggregate amount owned by Foster Paul L to a total of 8,510,359 representing less than 5.3% stake in the company.
For those not familiar with the company, Tesoro Corporation (Tesoro) is an independent petroleum refining, logistics and marketing company. he Company operates through three segments. The Refining operating segment refines crude oil and other feedstocks into transportation fuels, such as gasoline and gasoline blendstocks, jet fuel and diesel fuel, as well as other products, including heavy fuel oils, liquefied petroleum gas and petroleum coke for sale in bulk markets to a range of customers within its markets. The TLLP segment comprises Tesoro Logistics LP’s (TLLP) assets and operations, and includes certain crude oil and natural gas gathering assets, natural gas and natural gas liquids (NGLs) processing assets, and crude oil and refined products terminaling, transportation and storage assets acquired from Tesoro and third parties. The marketing segment sells transportation fuels through branded and unbranded channels.
A glance at Tesoro Corporation (NYSE:TSO)’s key stats reveals a current market capitalization of 14.44 Billion based on 160.14 Million shares outstanding and a price at last close of $89.46 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-06-01, Sterin picked up 100 at a purchase price of $83.75. This brings their total holding to 10,042 as of the date of the filing.
On the sell side, the most recent transaction saw Peery unload 1,061 shares at a sale price of $84.17. This brings their total holding to 3,216.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Tesoro Corporation (NYSE:TSO) as things move forward to see if its progress aligns with these transactions.
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