ANDV

Andeavor

Energy


Presented:09/14/2016
Price:$79.76
Cap:$9.62B
Current Price:$153.50
Cap:$23.20B

Presented

Date09/14/2016
Price$79.76
Market Cap$9.62B
Ent Value$15.09B
P/E Ratio7.51x
Book Value$46.62
Div Yield0.03%
Shares O/S120.60M
Ave Daily Vol2,177,693
Short Int4.72%

Current

Price$153.50
Market Cap$23.20B
Andeavor engages in the refining and marketing of petroleum products. It operates through three segments: Refining, TLLP and Retail. The Refining segment sells refined products to unbranded marketers and opportunistically exports refined products to foreign markets. The TLLP segment owns, operates, develops and acquires logistics assets. The Retail segment sells gasoline, diesel fuel and convenience store items through company-operated retail stations and branded jobber dealers. The company was founded by West V. Robert, Jr. in 1968 and is headquartered in San Antonio, TX.

Please note, on 8/1/17 Tesoro Corporation (TSO) changed its company name and ticker to Endeavor (ANDV). The content of this idea will make reference to the original company name and ticker symbol.

Publicly traded companies mentioned herein: Tesoro Corporation (TSO), QEP Resources (QEP) and Tesoro Logistics LP (TLLP).

Highlights

The presenter is long shares of Tesoro, betting that the wave of negative estimates revisions for the refining business is largely past and that the bias for shares at this point is likely higher. If his thesis materializes, he believes the corresponding move of the stock in the context of overall low expectations could be meaningful. He believes shares could be worth as much as $120-$150 on relatively modest assumptions; at its current $80 stock price, the company’s retail operation alone accounts for TSO’s entire market value on the presenter’s numbers.

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Idea Discussion

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