Hartford Investment Management Co. Purchases Shares of 31,233 Tesoro Corporation (ANDV)
Hartford Investment Management Co. purchased a new stake in Tesoro Corporation (NYSE:ANDV) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 31,233 shares of the oil and gas company’s stock, valued at approximately $3,222,000.
A number of other large investors also recently made changes to their positions in ANDV. Strs Ohio grew its position in Tesoro by 357.1% in the second quarter. Strs Ohio now owns 58,311 shares of the oil and gas company’s stock valued at $5,457,000 after acquiring an additional 45,555 shares during the period. Public Employees Retirement Association of Colorado grew its holdings in shares of Tesoro by 28.2% during the second quarter. Public Employees Retirement Association of Colorado now owns 31,083 shares of the oil and gas company’s stock worth $2,909,000 after purchasing an additional 6,842 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in shares of Tesoro by 28.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 8,470 shares of the oil and gas company’s stock worth $792,000 after purchasing an additional 1,880 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Tesoro by 4.9% during the second quarter. Janney Montgomery Scott LLC now owns 3,949 shares of the oil and gas company’s stock worth $370,000 after purchasing an additional 186 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Tesoro by 32.8% during the second quarter. CIBC Asset Management Inc now owns 14,459 shares of the oil and gas company’s stock worth $1,353,000 after purchasing an additional 3,570 shares during the last quarter. Hedge funds and other institutional investors own 79.23% of the company’s stock.
In other Tesoro news, Director Michael E. Wiley sold 700 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $106.24, for a total value of $74,368.00. Following the transaction, the director now owns 41,850 shares of the company’s stock, valued at $4,446,144. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Keith M. Casey sold 9,000 shares of the 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. 0.86% of the stock is owned by company insiders.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Wednesday, November 29th. Tesoro’s dividend payout ratio is 47.87%.
Several analysts have recently commented on ANDV shares. BidaskClub upgraded Tesoro from a “hold” rating to a “buy” rating in a report on Thursday, August 31st. Barclays restated an “overweight” rating and set a $121.00 target price (up previously from $118.00) on shares of Tesoro in a report on Tuesday, October 10th. Royal Bank Of Canada restated a “sector perform” rating and set a $107.00 target price (down previously from $109.00) on shares of Tesoro in a report on Thursday, November 9th. Zacks Investment Research upgraded Tesoro from a “hold” rating to a “strong-buy” rating and set a $118.00 target price on the stock in a report on Tuesday, September 12th. Finally, Evercore ISI upgraded Tesoro to a “buy” rating and set a $128.00 target price on the stock in a report on Thursday, November 2nd. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Tesoro has an average rating of “Buy” and a consensus price target of $117.95.
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Tesoro 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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