Manning & Napier Advisors LLC acquired a new position in Tesoro Corporation (NYSE:ANDV) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,195 shares of the oil and gas company’s stock, valued at approximately $1,566,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Boston Partners purchased a new position in shares of Tesoro Corporation in the 3rd quarter worth approximately $773,141,000. Bank of New York Mellon Corp purchased a new position in Tesoro Corporation during the 3rd quarter valued at $403,103,000. Prudential Financial Inc. purchased a new position in Tesoro Corporation during the 3rd quarter valued at $150,513,000. APG Asset Management N.V. purchased a new position in Tesoro Corporation during the 3rd quarter valued at $85,187,000. Finally, Jennison Associates LLC purchased a new position in Tesoro Corporation during the 3rd quarter valued at $81,868,000. 79.68% of the stock is currently owned by institutional investors and hedge funds.
Tesoro Corporation (ANDV) traded down $0.23 on Tuesday, hitting $105.11. The stock had a trading volume of 1,183,500 shares, compared to its average volume of 1,976,575. The company has a market cap of $16,432.76, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 0.76 and a beta of 1.56. The company has a current ratio of 1.47, a quick ratio of 0.62 and a debt-to-equity ratio of 0.61. Tesoro Corporation has a 52-week low of $75.11 and a 52-week high of $112.21.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.25%. The ex-dividend date is Wednesday, November 29th. Tesoro Corporation’s dividend payout ratio is currently 47.87%.
A number of research firms recently issued reports on ANDV. BidaskClub upgraded Tesoro Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. J P Morgan Chase & Co restated an “overweight” rating and set a $121.00 price objective on shares of Tesoro Corporation in a report on Friday, November 3rd. Royal Bank Of Canada restated a “sector perform” rating and set a $107.00 price objective (down previously from $109.00) on shares of Tesoro Corporation in a report on Thursday, November 9th. Zacks Investment Research upgraded Tesoro Corporation from a “hold” rating to a “buy” rating and set a $119.00 price objective for the company in a report on Tuesday, October 10th. Finally, Barclays PLC restated an “overweight” rating and set a $121.00 price objective (up previously from $118.00) on shares of Tesoro Corporation in a 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 company’s stock. Tesoro Corporation presently has an average rating of “Buy” and a consensus target price of $117.95.
In related news, EVP Keith M. Casey sold 9,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $103.60, for a total transaction of $932,400.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael E. Wiley sold 700 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $106.24, for a total value of $74,368.00. Following the transaction, the director now directly owns 41,850 shares in the company, valued at $4,446,144. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.
Tesoro Corporation Company Profile
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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