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Tesoro Stock on the Move in 2Q17: What's Driving It?

PART:
1 2 3 4 5 6 7 8 9 10 11
Part 6
Tesoro Stock on the Move in 2Q17: What's Driving It? PART 6 OF 11

Where Does Institutional Ownership in Tesoro Stand?

Mid-series recap

So far in this series, we’ve explored why Tesoro (TSO) stock has outperformed its peers and the broader market, as well as what TSO’s moving average crossover suggests. We also estimated Tesoro’s nine-day price forecast range for the period ending June 30, 2017, based on its implied volatility.

We reviewed analysts’ expectations of Tesoro’s dividend payment for the next quarter. Now we’ll look at institutional ownership in Tesoro.

Where Does Institutional Ownership in Tesoro Stand?

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What is institutional ownership?

Institutional ownership is a measure of how many shares of a company are owned by institutions like mutual funds, pension funds, hedge funds, banks, and insurance companies. This measure indicates the confidence level that these institutions have in a stock. Normally, higher institutional holdings indicate a favorable opinion about a stock.

Institutional ownership in Tesoro

Institutional ownership in Tesoro (TSO) currently stands at ~69% of outstanding shares. Institutions with vast holdings include the Vanguard Group, State Street Global Advisors, Franklin Mountain Investments, and BlackRock Institutional Trust Company.

The Vanguard Group holds Tesoro stock via ETFs such as the Vanguard Energy ETF (VDE), which has ~0.78% weight of TSO, and the Vanguard Mid-Cap Value ETF (VOE), which has ~0.55% weight in TSO. The Vanguard S&P 500 Value ETF (VOOV) has ~0.11% weight in TSO.

State Street Global Advisors has exposure to Tesoro stock through a variety of ETFs such as the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) with ~2.1% weight and the Energy Select Sector SPDR Fund (XLE) with ~1.2% weight.

Peers’ institutional holdings

Among TSO’s peers, Phillips 66 (PSX), Marathon Petroleum (MPC), Valero Energy (VLO), and HollyFrontier (HFC) have institutional holdings of 71%, 81%, 83%, and 88%, respectively. However, CVR Refining (CVRR) and Alon USA Energy (ALJ) have lower institutional holdings standing at 10% and 48%, respectively.

In the next part, we’ll evaluate where Tesoro stands in terms of its forward valuations compared to its peers.

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