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Asset Contributions, Share Repurchase Programs, License Approvals, Clarifications, and Dividends - Research Report on Tesoro, Phillips 66, InterOil, Delek US, and World Fuel Services

Editor Note: For more information about this release, please scroll to bottom


News provided by

Analysts' Corner

Dec 12, 2013, 08:00 ET

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NEW YORK, December 12, 2013 /PRNewswire/ --

Today, Analysts' Corner announced new research reports highlighting Tesoro Corporation (NYSE: TSO), Phillips 66 (NYSE: PSX), InterOil Corporation (NYSE: IOC), Delek US Holdings, Inc. (NYSE: DK), and World Fuel Services Corp. (NYSE: INT). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.

Tesoro Corporation Research Report

On December 6, 2013, Tesoro Corporation (Tesoro), along with Tesoro Logistics LP (Tesoro Logistics or the Partnership), announced that it has contributed the majority of the remaining Los Angeles Logistics Assets owned by Tesoro's subsidiary, Tesoro Refining & Marketing Company LLC, to Tesoro Logistics. According to the Company, the total consideration of asset contribution is $650 million. Tesoro reported that the consideration for the Los Angeles Logistics Assets contributed to the Partnership since the Los Angeles Acquisition on June 1, 2013 now totals $1.3 billion. Greg Goff, President and CEO, Tesoro, stated, "With this sale, Tesoro has funded about half of the $2.4 billion Los Angeles acquisition purchase price with funds generated from sale of logistics assets embedded in the system of assets acquired." Goff continued, "Using Tesoro Logistics to fund the acquisition is driving significant value to Tesoro's shareholders." The Full Research Report on Tesoro Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at:

http://www.AnalystsCorner.com/r/full_research_report/0cef_TSO

--

Phillips 66 Research Report

On December 6, 2013, Phillips 66 reported that its board of directors has approved a new $2 billion share repurchase program. Phillips 66 informed that the authorization amount totals to $5 billion in share repurchases and raised quarterly dividends from $0.20 per share to $0.39 per share since Q3 2012. Greg Garland, Phillips 66 Chairman and CEO, said, "Returning capital to our shareholders is fundamental to creating value and delivering superior total shareholder returns." Garland concluded, "Our disciplined capital allocation process complements these distributions with capital spending and reinvestment in our higher-valued businesses." The Full Research Report on Phillips 66 - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at:

http://www.AnalystsCorner.com/r/full_research_report/e6e5_PSX

--

InterOil Corporation Research Report

On December 6, 2013, InterOil Corporation (InterOil) announced that the PNG Department of Petroleum and Energy has approved its application for Petroleum Retention License 39, which includes the Triceratops discovery. InterOil also provided further clarification regarding the fixed and variable payments agreed to with Total S.A., in relation to the sale of a gross 61.3% (net 47.5%, after PNG government back-in of 22.5%) in PRL 15, which includes the Elk and Antelope fields. The Company stated that fixed payments to InterOil include $613 million on transaction completion, which is expected in Q1 2014; $112 million on a final investment decision for a new LNG plant; and $100 million at first LNG cargo from the proposed LNG facility. InterOil further reported that variable payments for amounts in excess of 3.5 Tcfe for the gas resource will depend on certification by two independent certifiers following up to three appraisal wells to be drilled in PRL15, in addition to the aforementioned fixed amounts. The Company also informed that gas resource payment for amounts greater than 5.4 Tcfe will be paid at certification. The Full Research Report on InterOil Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at:

http://www.AnalystsCorner.com/r/full_research_report/6758_IOC

--

Delek US Holdings, Inc. Research Report

On December 5, 2013, Delek US Holdings, Inc. (Delek US) announced that its Board of Directors declared a special cash dividend of $0.10 per share. Delek US reported that the special cash dividend is payable on January 28, 2014 to shareholders of record at the close of business on January 7, 2014. Uzi Yemin, Chairman, President and CEO of Delek US, commented, "Throughout 2013, the strength of our financial position has given us the flexibility to invest in our business, raise our regular dividend, pay special dividends and repurchase shares. We remain focused on continuing to grow our business, while maintaining our commitment to return value to our shareholders." The Full Research Report on Delek US Holdings, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at:

http://www.AnalystsCorner.com/r/full_research_report/ad55_DK

--

World Fuel Services Corp. Research Report

On November 26, 2013, World Fuel Services Corp. (World Fuel Services) announced that its Board of Directors has declared a quarterly cash dividend of c.$0.04 per share. World Fuel Services reported that the dividend is payable on January 3, 2014 to shareholders of record on December 13, 2013. The Full Research Report on World Fuel Services Corp. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at:

http://www.AnalystsCorner.com/r/full_research_report/a593_INT

----

EDITOR NOTES:

  1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.
  2. Information in this release is fact checked and produced on a best efforts basis and reviewed by Ananya Ghosh, a CFA charterholder. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.
  3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.
  4. If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at [email protected].
  5. For any urgent concerns or inquiries, please contact us at [email protected].
  6. Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to [email protected] for consideration.

COMPLIANCE PROCEDURE

Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Equity News Network. An outsourced research services provider represented by Ananya Ghosh, CFA, has only reviewed the information provided by Equity News Network in this article or report according to the Procedures outlined by Equity News Network. Equity News Network is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.

NOT FINANCIAL ADVICE

Equity News Network makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.

NO WARRANTY OR LIABILITY ASSUMED

Equity News Network is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Equity News Network whatsoever for any direct, indirect or consequential loss arising from the use of this document. Equity News Network expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Equity News Network does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE Analysts' Corner

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