We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Tesoro Corp Announces Pricing of Senior Notes Worth $850M
Read MoreHide Full Article
Independent refiner Tesoro Corporation recently announced the pricing of senior notes worth $850 million. The notes, carrying an interest rate of 4.75%, are expected to mature in 2023. Also, the company announced the pricing of senior notes worth $750 million. The notes, carrying an interest rate of 5.125%, are expected to mature in 2026. Tesoro Corp. is expected to close the offering on Dec 22.
The company plans to use the funds generated from this offering, along with the cash on hand, and money raised using its revolving credit facility, to pay for its previously announced acquisition of Western Refining, Inc. .
San Antonio, TX-based Tesoro Corp. is an independent refiner and marketer of refined petroleum products in the western U.S. A major advantage for the company is the scale and diversification benefits afforded by its portfolio of seven refineries. We also like Tesoro’s solid long-term competitive position on the supply-constrained California market.
In the last two-year timeframe, the Zacks categorized Oil Gas Refining and Marketing industry has registered an impressive growth of 12.5%. The Tesoro stock has reported better results and outperformed the industry by registering a massive growth of 21.4%.
However, following a prolonged period of high differentials, crack spreads are likely to weaken, which in turn, is expected to deteriorate near-term earnings and cash flows of Tesoro Corp.
As a result, the company carries a Zacks Rank #3 (Hold), which implies that the stock will perform in line with the broader U.S. equity market over the next one to three months.
In the last four quarters, Braskem posted an average positive earnings surprise of 105.5%.
In the last four quarters, McDermott posted an average positive earnings surprise of 250.00%.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Tesoro Corp Announces Pricing of Senior Notes Worth $850M
Independent refiner Tesoro Corporation recently announced the pricing of senior notes worth $850 million. The notes, carrying an interest rate of 4.75%, are expected to mature in 2023. Also, the company announced the pricing of senior notes worth $750 million. The notes, carrying an interest rate of 5.125%, are expected to mature in 2026. Tesoro Corp. is expected to close the offering on Dec 22.
The company plans to use the funds generated from this offering, along with the cash on hand, and money raised using its revolving credit facility, to pay for its previously announced acquisition of Western Refining, Inc. .
San Antonio, TX-based Tesoro Corp. is an independent refiner and marketer of refined petroleum products in the western U.S. A major advantage for the company is the scale and diversification benefits afforded by its portfolio of seven refineries. We also like Tesoro’s solid long-term competitive position on the supply-constrained California market.
In the last two-year timeframe, the Zacks categorized Oil Gas Refining and Marketing industry has registered an impressive growth of 12.5%. The Tesoro stock has reported better results and outperformed the industry by registering a massive growth of 21.4%.
TESORO CORP Price
TESORO CORP Price | TESORO CORP Quote
However, following a prolonged period of high differentials, crack spreads are likely to weaken, which in turn, is expected to deteriorate near-term earnings and cash flows of Tesoro Corp.
As a result, the company carries a Zacks Rank #3 (Hold), which implies that the stock will perform in line with the broader U.S. equity market over the next one to three months.
Some better-ranked players from the broader energy sector include Braskem S.A. (BAK - Free Report) , and McDermott International Inc. . Both the stocks sport a Zacks Rank #1(Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the last four quarters, Braskem posted an average positive earnings surprise of 105.5%.
In the last four quarters, McDermott posted an average positive earnings surprise of 250.00%.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>