Midday Update: Tesoro Corporation (TSO) Charges Ahead 2.58% on July 26

Tesoro Corporation (TSO) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector during morning trading on July 26. At the lunch break, shares of TSO have gained 2.58% to $77.6 after closing the day prior at $75.65. In the first two and a half hours of trading, the stock has gone as high as $78.41 and as low as $75.55. Today’s rise has come with about 712,061 shares changing hands, compared to an average 30-day volume of 1.97 million for Tesoro Corporation. The price is currently below the 30-day volume weighted average price of $77.45 for TSO.

The share appreciation gives the company a market capitalization of $9.08 billion based upon 119.98 million shares outstanding. It also means that TSO has a price-to-book ratio of 1.74:1.

In the past 52 weeks, shares of TSO have traded as low as $67.8 and as high as $119.67. Technical traders will take note that at $77.6, shares of TSO are trading below their 200-day MA at $88.67 and above their 50-day MA at $76.37. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.

Who is TSO?

Tesoro Corp is an independent petroleum refiner and marketer in the United States. Its subsidiaries operate through three business segments, transport crude oil and manufacture, transport and sell transportation fuels. The company’s 6000 employees are led by CEO Gregory J. Goff from the corporate headquarters at 19100 Ridgewood Parkway in San Antonio, TX.

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