Bank of Nova Scotia decreased its position in shares of Andeavor (NYSE:ANDV) by 7.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,338 shares of the oil and gas company’s stock after selling 1,783 shares during the quarter. Bank of Nova Scotia’s holdings in Andeavor were worth $2,799,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the business. Ostrum Asset Management purchased a new position in shares of Andeavor during the first quarter worth about $123,000. CIBC Private Wealth Group LLC grew its holdings in shares of Andeavor by 114.5% during the second quarter. CIBC Private Wealth Group LLC now owns 1,255 shares of the oil and gas company’s stock worth $165,000 after buying an additional 670 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Andeavor by 719.9% during the second quarter. Parallel Advisors LLC now owns 1,320 shares of the oil and gas company’s stock worth $173,000 after buying an additional 1,159 shares during the last quarter. Ropes Wealth Advisors LLC grew its holdings in shares of Andeavor by 118.7% during the second quarter. Ropes Wealth Advisors LLC now owns 1,428 shares of the oil and gas company’s stock worth $187,000 after buying an additional 775 shares during the last quarter. Finally, Visionary Asset Management Inc. purchased a new position in shares of Andeavor during the second quarter worth about $210,000. 77.65% of the stock is currently owned by institutional investors.
In other news, Director Paul L. Foster sold 58,800 shares of Andeavor stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $144.09, for a total transaction of $8,472,492.00. Following the completion of the sale, the director now directly owns 1,293,972 shares in the company, valued at approximately $186,448,425.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Stephan E. Tompsett sold 490 shares of Andeavor stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $151.65, for a total transaction of $74,308.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 260,141 shares of company stock valued at $38,017,662. Insiders own 7.00% of the company’s stock.
Andeavor (NYSE:ANDV) last posted its quarterly earnings results on Monday, August 6th. The oil and gas company reported $3.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.96 by $0.58. Andeavor had a net margin of 4.91% and a return on equity of 8.52%. The company had revenue of $12.47 billion during the quarter, compared to the consensus estimate of $12.36 billion. sell-side analysts anticipate that Andeavor will post 8.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.49%. Andeavor’s payout ratio is 36.48%.
A number of equities analysts recently issued reports on the company. Citigroup raised their price target on Andeavor from $148.00 to $155.00 and gave the stock a “hold” rating in a report on Friday, September 7th. Royal Bank of Canada raised their price objective on shares of Andeavor to $151.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 14th. They noted that the move was a valuation call. Mizuho initiated coverage on shares of Andeavor in a research report on Thursday, August 2nd. They issued a “neutral” rating and a $158.00 price objective for the company. ValuEngine upgraded shares of Andeavor from a “hold” rating to a “buy” rating in a research report on Thursday, July 12th. Finally, US Capital Advisors downgraded shares of Andeavor from a “buy” rating to a “hold” rating in a research report on Friday, June 29th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $138.75.
Andeavor Company Profile
Andeavor, through its subsidiaries, operates as an independent petroleum refining, logistics, and marketing company in the United States. The company operates in three segments: Marketing, Logistics, and Refining. The Marketing segment sells gasoline and diesel fuel through retail, branded, and unbranded channels.
Further Reading: Asset Allocation
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