Barclays Maintains an 'Overweight' on Tesoro (TSO); Anacortes Rail Facility Project To Supply Bakken Crude
Tweet
Share
E-mailGet Alerts TSO Hot Sheet
Price: $99.53 --0%
Rating Summary:
17 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
17 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Barclays maintains an 'Overweight' on Tesoro Corporation (NYSE: TSO), PT $37.
Barclays analyst says, "We see this as an incremental positive for TSO and a slight negative to other Midcon refiners. After speaking with management, we estimate TSO's unit train operating costs plus additional processing fees is expected to be approximately $6-8/b. With Bakken crude averaging an $8-9/b discount to ANS (Alaskan North Slope) in 2Q11, this suggests a cost savings/reduction of $0-3/b or $0-33 million pre-tax per year, or $0.00-0.14/share. Equally important, since Bakken oil is better quality than ANS crude, we expect this to translate into improved product yields or the ability for Anacortes to increase other heavy oil runs. Thus, the actual benefit could be much higher than the $0.00-0.14/share estimate."
For more ratings news on Tesoro Corporation click here and for the rating history of Tesoro Corporation click here.
Shares of Tesoro Corporation closed at $23.48 yesterday.
Barclays analyst says, "We see this as an incremental positive for TSO and a slight negative to other Midcon refiners. After speaking with management, we estimate TSO's unit train operating costs plus additional processing fees is expected to be approximately $6-8/b. With Bakken crude averaging an $8-9/b discount to ANS (Alaskan North Slope) in 2Q11, this suggests a cost savings/reduction of $0-3/b or $0-33 million pre-tax per year, or $0.00-0.14/share. Equally important, since Bakken oil is better quality than ANS crude, we expect this to translate into improved product yields or the ability for Anacortes to increase other heavy oil runs. Thus, the actual benefit could be much higher than the $0.00-0.14/share estimate."
For more ratings news on Tesoro Corporation click here and for the rating history of Tesoro Corporation click here.
Shares of Tesoro Corporation closed at $23.48 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Idex Corp. (IEX) Reiterated at Buy by Stifel
- Ferrovial SA (FER:SM) (FRRVF) Reiterated at Buy by UBS on Winning Bid For Tennessee Project
- Global yield relief evaporates as U.S. rates push back toward multi-decade peaks
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Barclays, Bakken Formation, Crude OilSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
