Tesoro Logistics LP (NASDAQ:TLLP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “Tesoro Logistics LP is a limited partnership formed to own, operate, develop and acquire crude oil and refined products logistics assets. The Company’s logistics assets are used to gather, transport and store crude oil and to distribute, transport and store refined products. Tesoro Logistics operates its business through two business segments: Crude Oil Gathering and Terminalling, Transportation and Storage. “

A number of other equities research analysts have also recently issued reports on TLLP. Jefferies Group began coverage on shares of Tesoro Logistics in a research note on Tuesday, August 23rd. They issued a “hold” rating and a $49.00 price objective for the company. Mizuho began coverage on shares of Tesoro Logistics in a research note on Thursday, September 29th. They issued a “buy” rating and a $58.00 price objective for the company.

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Shares of Tesoro Logistics (NASDAQ:TLLP) traded down 1.32% during trading on Tuesday, reaching $46.47. 200,894 shares of the company were exchanged. Tesoro Logistics has a 52-week low of $35.18 and a 52-week high of $56.92. The firm has a market cap of $4.70 billion and a price-to-earnings ratio of 20.87. The stock’s 50-day moving average is $47.20 and its 200-day moving average is $47.23.

Tesoro Logistics (NASDAQ:TLLP) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.12. The firm had revenue of $293 million for the quarter, compared to the consensus estimate of $275 million. During the same period last year, the business earned $0.60 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts predict that Tesoro Logistics will post $2.63 earnings per share for the current fiscal year.

In other news, CFO Steven Sterin purchased 1,600 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was bought at an average cost of $47.34 per share, for a total transaction of $75,744.00. Following the acquisition, the chief financial officer now directly owns 2,514 shares of the company’s stock, valued at approximately $119,012.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Tesoro Logistics Company Profile

Tesoro Logistics LP (TLLP) owns, operates, develops and acquires logistics assets. TLLP is a logistics company operating primarily in the western and mid-continent regions of the United States. The Company operates through three segments: Gathering, Processing, and Terminalling and Transportation. Its gathering systems include crude oil and natural gas pipeline gathering systems in the Bakken Shale/Williston Basin area of North Dakota and Montana and the Green River Basin, Uinta Basin and Vermillion Basin in the states of Utah, Colorado and Wyoming.

5 Day Chart for NASDAQ:TLLP

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