Tesoro (ANDV) Price Target Increased to $141.00 by Analysts at Wells Fargo & Company
Tesoro (NYSE:ANDV) had its price objective raised by Wells Fargo & Company to $141.00 in a research note issued to investors on Wednesday morning. They currently have an outperform rating on the oil and gas company’s stock.
Several other analysts have also commented on the stock. BidaskClub raised shares of Tesoro from a hold rating to a buy rating in a research report on Thursday, August 31st. Barclays reaffirmed an overweight rating and set a $121.00 price target (up previously from $118.00) on shares of Tesoro in a research report on Tuesday, October 10th. Royal Bank Of Canada reaffirmed a sector perform rating and set a $107.00 price target (down previously from $109.00) on shares of Tesoro in a research report on Thursday, November 9th. Zacks Investment Research raised shares of Tesoro from a hold rating to a strong-buy rating and set a $118.00 price target on the stock in a research report on Tuesday, September 12th. Finally, Evercore ISI raised shares of Tesoro to a buy rating and set a $128.00 price target on the stock in a research report on Thursday, November 2nd. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of $118.68.
Shares of Tesoro (NYSE ANDV) traded up $0.16 during trading on Wednesday, hitting $107.74. The stock had a trading volume of 1,578,600 shares, compared to its average volume of 1,950,674. The firm has a market cap of $16,782.19, a PE ratio of 20.85, a P/E/G ratio of 0.77 and a beta of 1.55. Tesoro has a fifty-two week low of $75.11 and a fifty-two week high of $112.21. The company has a current ratio of 1.47, a quick ratio of 0.62 and a debt-to-equity ratio of 0.61.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Wednesday, November 29th. Tesoro’s dividend payout ratio is currently 47.87%.
In related news, EVP Keith M. Casey sold 9,000 shares of the business’s stock in a transaction 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 hyperlink. Also, Director Michael E. Wiley sold 700 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $106.24, for a total transaction of $74,368.00. Following the transaction, the director now 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 currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ANDV. Municipal Employees Retirement System of Michigan boosted its stake in Tesoro by 28.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 8,470 shares of the oil and gas company’s stock valued at $792,000 after acquiring an additional 1,880 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Tesoro by 4.9% in the second quarter. Janney Montgomery Scott LLC now owns 3,949 shares of the oil and gas company’s stock valued at $370,000 after buying an additional 186 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Tesoro by 32.8% in the second quarter. CIBC Asset Management Inc now owns 14,459 shares of the oil and gas company’s stock valued at $1,353,000 after buying an additional 3,570 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Tesoro by 0.8% in the second quarter. Bessemer Group Inc. now owns 29,860 shares of the oil and gas company’s stock valued at $2,795,000 after buying an additional 227 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Tesoro by 35.5% in the second quarter. Daiwa Securities Group Inc. now owns 4,200 shares of the oil and gas company’s stock valued at $393,000 after buying an additional 1,100 shares during the last quarter. Institutional investors own 79.23% of the company’s stock.
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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.
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