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:
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:
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:
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:
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:
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