NEW YORK (TheStreet) -- Shares of Tesoro Corp. (TSO) are extending losses into late morning trading, down 6.9% to $81.27 today, after the company reported fourth quarter earnings and revenue yesterday that missed analysts' estimates.
The San Antonio-based company reported fourth quarter earnings of $1.46 on revenue of $8.45 billion, which came up short of Reuters estimates of $1.51 in earnings and $8.9 billion in revenue.
Corporate and unallocated costs were $101 million, including $4 million of corporate depreciation, the company said, adding this was higher than their guidance and run rate of $60 million due to higher compensation related costs.
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The company also announced an increase in the regular quarterly dividend by 40% to $0.425 per share payable on March 13.
Tesoro Corp.'s subsidiaries operate through three business segments: refining for wholesale, retail sales of transportation fuels, and logistics.
Separately, TheStreet Ratings team rates TESORO CORP as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate TESORO CORP (TSO) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income, attractive valuation levels, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
You can view the full analysis from the report here: TSO Ratings ReportTSO data by YCharts