Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Moody's Investors Service (Moody's) assigned Baa2 ratings to Marathon Petroleum Corporation's (MPC) new notes totaling $2.9 billion issued in exchange for Andeavor's (ANDV) unsecured notes in conjunction with the close of MPC's acquisition of ANDV on October 1, 2018. In a related action, Moody's...
Independent refiners have outpaced the rest of the sector since last fall, when hurricane activity disrupted operations sufficiently to reduce inventories, inflating margins while creating bottlenecks that widened crude spreads. Despite normalization of operations, the strong margins and wide crude spreads have persisted, creating a very favorable environment for refiners. Although elevated gasoline inventories present a risk, distillate inventories are near five-year lows, while demand for both...
By investing in improving its refineries’ competitive positioning and integrating the recently acquired Western Refining assets, Andeavor should be able to drive an increase in refining earnings amid a stable margin environment. In combination with expanding its retail marketing and logistics segments, Andeavor could potentially increase EBITDA by $1.4 billion, or 45%, by 2020. The recently completed acquisition of Western Refining added three midcontinent refineries that are well positioned t...
Independent refiners have outpaced the rest of the sector since last fall, when hurricane activity disrupted operations sufficiently to reduce inventories, inflating margins while creating bottlenecks that widened crude spreads. Despite normalization of operations, the strong margins and wide crude spreads have persisted, creating a very favorable environment for refiners. Although elevated gasoline inventories present a risk, distillate inventories are near five-year lows, while demand for both...
Andeavor Honors Top Suppliers SAN ANTONIO, Sept. 17, 2018 (GLOBE NEWSWIRE) -- Andeavor (NYSE: ANDV) is pleased to announce the recipients of its annual Supplier Recognition Awards, selected for outstanding performance in alignment with Andeavor’s Guiding Principles. Andeavor presented awards to suppliers in various categories, including: Supplier of the YearSafetyInnovation and Value DeliveryShared ValueSmall, Disadvantaged or Diverse Business of the Year Award recipients were chosen for exceptional performance during the 2017 calendar year, during which they delivered significant resu...
A director at Andeavor sold 58,800 shares at 154.781USD and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showi...
Andeavor reported first-quarter earnings of $164 million, compared with $50 million a year ago. The improvement was largely attributable to the refining segment, where operating income increased to $205 million from $34 million the prior year. While margins increased and costs fell compared with the year-ago period, Andeavor also realized a pretax benefit of $100 million from a reduction in renewable identification number, or RIN, obligations for 2016 and 2017. Logistics operating income increas...
Andeavor reported first-quarter earnings of $164 million, compared with $50 million a year ago. The improvement was largely attributable to the refining segment, where operating income increased to $205 million from $34 million the prior year. While margins increased and costs fell compared with the year-ago period, Andeavor also realized a pretax benefit of $100 million from a reduction in renewable identification number, or RIN, obligations for 2016 and 2017. Logistics operating income increas...
STEVENSON, Md.--(BUSINESS WIRE)-- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Andeavor (NYSE: ANDV) (“Andeavor” or the “Company”) relating to the proposed buyout of Andeavor by Marathon Petroleum Corp. Under the terms of the agreement, Andeavor shareholders will have the option to receive 1.87 shares of Marathon common stock or $152.27 in cash for each share...
WILMINGTON, Del.--(BUSINESS WIRE)-- Rigrodsky & Long, P.A.: Do you own shares of Andeavor (NYSE: ANDV)? Did you purchase any of your shares prior to April 30, 2018? Do you think the proposed buyout is fair? Do you want to discuss your rights? Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Andeavor (“Andeavor” or the “Company”) (NYSE: ANDV) regarding possible breaches of fiduci...
NEW YORK--(BUSINESS WIRE)-- The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Andeavor (“Andeavor” or the “Company”) (NYSE: ANDV) stock prior to April 30, 2018. You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Andeavor to Marathon Petroleum Corp. (NYSE: MPC). Under the terms of the transaction, Andeavor shareholders may elect to receive 1.87 shares of MPC stock, or $152.27 in cash per sha...
STEVENSON, Md.--(BUSINESS WIRE)-- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Andeavor (NYSE: ANDV) (“Andeavor” or the “Company”) relating to the proposed buyout of Andeavor by Marathon Petroleum Corp. Under the terms of the agreement, Andeavor shareholders will have the option to receive 1.87 shares of Marathon common stock or $152.27 in cash for each share...
On April 30, Marathon Petroleum announced plans to acquire integrated refiner Andeavor for $152.27 per share, based on an exchange ratio of 1.87 shares and Friday’s closing prices. The offer equates to a 24% premium to Andeavor’s prior closing price and a 15% premium to our $135 stand-alone Andeavor fair value estimate. Andeavor had been our best idea in the sector. The combined company would become the largest refiner in the U.S., with 16 refineries operating 3.0 mmbd of refining capacity, ...
NEW YORK--(BUSINESS WIRE)-- Bragar Eagel & Squire, P.C. is investigating potential claims on behalf of Andeavor (NYSE: ANDV) stockholders concerning the proposed acquisition of the company by Marathon Petroleum Corp. (NYSE: MPC). Our investigation concerns whether Andeavor’s board of directors failed to adequately shop the Company and obtain the best possible value for its stockholders before entering into a definitive merger agreement with Marathon. Under the terms of the agreement, Andeavor stockholders will have the option...
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