Tesoro Corporation (ANDV) Downgraded by ValuEngine
ValuEngine cut shares of Tesoro Corporation (NYSE:ANDV) from a buy rating to a hold rating in a research report released on Wednesday morning.
ANDV has been the subject of several other reports. Evercore ISI raised shares of Tesoro Corporation from an in-line rating to an outperform rating in a research note on Thursday, November 2nd. Zacks Investment Research raised shares of Tesoro Corporation from a hold rating to a strong-buy rating and set a $118.00 price objective for the company in a research note on Tuesday, September 12th. BidaskClub downgraded shares of Tesoro Corporation from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Howard Weil downgraded shares of Tesoro Corporation from a sector outperform rating to a sector perform rating and set a $112.00 price objective for the company. in a research note on Thursday, September 28th. Finally, J P Morgan Chase & Co reaffirmed an overweight rating and set a $121.00 price objective on shares of Tesoro Corporation in a research note on Friday, November 3rd. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of Buy and an average price target of $117.95.
Tesoro Corporation (NYSE ANDV) opened at $104.00 on Wednesday. The company has a market cap of $16,215.92, a PE ratio of 20.15, a PEG ratio of 0.75 and a beta of 1.56. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.62 and a current ratio of 1.47. Tesoro Corporation has a one year low of $75.11 and a one year high of $112.21.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Wednesday, November 29th. Tesoro Corporation’s payout ratio is currently 47.87%.
In other Tesoro Corporation news, EVP Keith M. Casey sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $103.60, for a total transaction of $932,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael E. Wiley sold 700 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $106.24, for a total transaction of $74,368.00. Following the transaction, the director now directly owns 41,850 shares of the company’s stock, valued at approximately $4,446,144. The disclosure for this sale can be found here. 0.86% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Sun Life Financial INC bought a new position in shares of Tesoro Corporation during the third quarter valued at approximately $110,000. Bollard Group LLC bought a new position in shares of Tesoro Corporation during the third quarter valued at approximately $123,000. Edge Wealth Management LLC bought a new position in shares of Tesoro Corporation during the third quarter valued at approximately $128,000. Bronfman E.L. Rothschild L.P. bought a new position in shares of Tesoro Corporation during the third quarter valued at approximately $155,000. Finally, Robecosam AG bought a new position in shares of Tesoro Corporation during the third quarter valued at approximately $166,000. 79.68% of the stock is owned by institutional investors and hedge funds.
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About Tesoro Corporation
Andeavor, formerly Tesoro Corporation, is an independent petroleum refining, logistics and marketing company. he Company operates through three segments. The Refining operating segment refines crude oil and other feedstocks into transportation fuels, such as gasoline and gasoline blendstocks, jet fuel and diesel fuel, as well as other products, including heavy fuel oils, liquefied petroleum gas and petroleum coke for sale in bulk markets to a range of customers within its markets.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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