Evercore ISI upgraded shares of Tesoro Corporation (NYSE:ANDV) from an in-line rating to an outperform rating in a report issued on Thursday, November 2nd, MarketBeat Ratings reports.
Other analysts also recently issued research reports about the stock. BidaskClub raised shares of Tesoro Corporation from a hold rating to a buy rating in a research report on Thursday, August 31st. Citigroup Inc. lifted their price target on shares of Tesoro Corporation from $104.00 to $109.00 and gave the company a buy rating in a research report on Monday, July 17th. Cowen and Company reissued a buy rating and issued a $120.00 price target on shares of Tesoro Corporation in a research report on Thursday, September 28th. Scotiabank set a $99.00 price target on shares of Tesoro Corporation and gave the company a buy rating in a research report on Tuesday, July 11th. Finally, Zacks Investment Research raised shares of Tesoro Corporation from a hold rating to a buy rating and set a $119.00 price target for the company in a research report on Tuesday, October 10th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $117.95.
Shares of Tesoro Corporation (ANDV) opened at $105.34 on Thursday. Tesoro Corporation has a 52-week low of $75.11 and a 52-week high of $112.21. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.47 and a quick ratio of 0.62. The stock has a market cap of $16,432.76, a price-to-earnings ratio of 20.42, a P/E/G ratio of 0.76 and a beta of 1.56.
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The company also recently disclosed 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 2.24%. The ex-dividend date of this dividend is Wednesday, November 29th. Tesoro Corporation’s dividend payout ratio is currently 47.87%.
In other Tesoro Corporation news, Director Michael E. Wiley sold 700 shares of Tesoro Corporation stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $106.24, for a total transaction of $74,368.00. Following the completion of the transaction, the director now owns 41,850 shares of the company’s stock, valued at approximately $4,446,144. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Keith M. Casey sold 9,000 shares of Tesoro Corporation stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $103.60, for a total value of $932,400.00. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. FDO Partners LLC purchased a new position in shares of Tesoro Corporation during the third quarter worth about $304,000. OxFORD Asset Management LLP purchased a new position in shares of Tesoro Corporation during the third quarter worth about $5,103,000. Tredje AP fonden purchased a new position in shares of Tesoro Corporation during the third quarter worth about $2,508,000. Westfield Capital Management Co. LP purchased a new position in shares of Tesoro Corporation during the third quarter worth about $78,150,000. Finally, Strategic Global Advisors LLC purchased a new position in shares of Tesoro Corporation during the third quarter worth about $371,000. 79.68% of the stock is owned by institutional investors.
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.
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