Tesoro Corporation (ANDV) to Issue Quarterly Dividend of $0.59 on September 15th
Tesoro Corporation (NYSE:ANDV) announced a quarterly dividend on Wednesday, August 9th, Zacks reports. Investors of record on Thursday, August 31st will be given a dividend of 0.59 per share by the oil and gas company on Friday, September 15th. This represents a $2.36 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Tuesday, August 29th. This is an increase from Tesoro Corporation’s previous quarterly dividend of $0.55.
Tesoro Corporation has a payout ratio of 42.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Tesoro Corporation to earn $8.18 per share next year, which means the company should continue to be able to cover its $2.36 annual dividend with an expected future payout ratio of 28.9%.
Shares of Tesoro Corporation (NYSE:ANDV) opened at 95.48 on Monday. Tesoro Corporation has a 52-week low of $72.95 and a 52-week high of $101.52. The company’s 50 day moving average is $96.28 and its 200 day moving average is $87.73. The firm has a market cap of $15.27 billion, a price-to-earnings ratio of 15.97 and a beta of 1.71.
In other Tesoro Corporation news, Director David Lilley purchased 500 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were bought at an average price of $83.16 per share, for a total transaction of $41,580.00. Following the acquisition, the director now owns 15,134 shares in the company, valued at $1,258,543.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Steven Sterin purchased 1,150 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was acquired at an average price of $83.75 per share, for a total transaction of $96,312.50. Following the acquisition, the chief financial officer now owns 9,942 shares in the company, valued at approximately $832,642.50. The disclosure for this purchase can be found here. Corporate insiders own 0.86% of the company’s stock.
A number of research analysts have weighed in on the stock. Jefferies Group LLC set a $94.00 price objective on shares of Tesoro Corporation and gave the company a “buy” rating in a research report on Saturday, June 3rd. UBS AG reiterated a “buy” rating and set a $107.00 price objective on shares of Tesoro Corporation in a research report on Tuesday, June 13th. Credit Suisse Group boosted their price objective on shares of Tesoro Corporation from $100.00 to $107.00 and gave the company a “neutral” rating in a research report on Tuesday, June 20th. Deutsche Bank AG upgraded shares of Tesoro Corporation from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a research report on Monday, June 5th. Finally, US Capital Advisors reiterated a “buy” rating on shares of Tesoro Corporation in a research report on Monday, May 22nd. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Tesoro Corporation currently has an average rating of “Buy” and an average target price of $109.00.
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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.
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