Zacks Investment Research upgraded shares of Andeavor Logistics (NYSE:ANDX) from a sell rating to a hold rating in a research note published on Monday morning.
According to Zacks, “Andeavor Logistics LP engages in the ownership, operation, development and acquisition of crude oil and refined products logistics assets. It operating segments consist of Gathering, Processing and Terminalling and Transportation. Gathering segment consists of crude oil, natural gas and produced water gathering systems in the North Dakota Williston Basin/Bakken Shale area and the Uinta, Vermillion and greater Green River basins. Processing segment consists of gas processing complexes, including an interest in Green River Processing LLC, which owns fractionation facility and gas processing complexes. Terminalling and Transportation segment consists of regulated common carrier products pipeline running from Salt Lake City, Utah to Spokane, Washington and a jet fuel pipeline to the Salt Lake City International Airport. Andeavor Logistics LP, formerly known as Tesoro Logistics LP, is headquartered in San Antonio, TX. “
A number of other brokerages also recently commented on ANDX. Morgan Stanley increased their price objective on Andeavor Logistics from $46.00 to $50.00 and gave the company a hold rating in a research report on Friday, August 24th. Wells Fargo & Co increased their price objective on Andeavor Logistics from $45.00 to $47.00 and gave the company a hold rating in a research report on Thursday, August 9th. ValuEngine downgraded Andeavor Logistics from a sell rating to a strong sell rating in a research report on Thursday, June 28th. SunTrust Banks set a $48.00 price objective on Andeavor Logistics and gave the company a buy rating in a research report on Monday, July 23rd. Finally, Bank of America lowered Andeavor Logistics from a neutral rating to an underperform rating and set a $55.00 target price for the company. in a report on Wednesday, July 18th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $52.82.
Shares of NYSE:ANDX opened at $48.43 on Monday. Andeavor Logistics has a one year low of $40.66 and a one year high of $55.21. The firm has a market cap of $10.90 billion, a PE ratio of 19.29, a P/E/G ratio of 5.42 and a beta of 1.46. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.92 and a quick ratio of 0.92.
Andeavor Logistics (NYSE:ANDX) last announced its quarterly earnings data on Monday, August 6th. The oil and gas company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.04). Andeavor Logistics had a net margin of 16.45% and a return on equity of 18.81%. The company had revenue of $557.00 million for the quarter, compared to analyst estimates of $527.61 million. During the same quarter last year, the company posted $0.63 EPS. Andeavor Logistics’s revenue was down 8.2% on a year-over-year basis. equities research analysts expect that Andeavor Logistics will post 2.72 EPS for the current year.
In other Andeavor Logistics news, Director Jeff A. Stevens bought 56,700 shares of Andeavor Logistics stock in a transaction dated Tuesday, August 14th. The stock was bought at an average price of $48.79 per share, for a total transaction of $2,766,393.00. Following the completion of the acquisition, the director now directly owns 402,954 shares of the company’s stock, valued at $19,660,125.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeff A. Stevens bought 39,175 shares of Andeavor Logistics stock in a transaction dated Monday, August 27th. The stock was acquired at an average price of $50.14 per share, with a total value of $1,964,234.50. Following the acquisition, the director now directly owns 527,136 shares of the company’s stock, valued at $26,430,599.04. The disclosure for this purchase can be found here. Insiders bought 182,017 shares of company stock valued at $8,984,283 in the last 90 days. Corporate insiders own 0.15% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Global X Management Co LLC raised its holdings in shares of Andeavor Logistics by 23.3% during the second quarter. Global X Management Co LLC now owns 1,042,952 shares of the oil and gas company’s stock worth $44,357,000 after acquiring an additional 197,144 shares in the last quarter. Eagle Global Advisors LLC raised its holdings in shares of Andeavor Logistics by 18.4% during the second quarter. Eagle Global Advisors LLC now owns 2,842,150 shares of the oil and gas company’s stock worth $120,877,000 after acquiring an additional 440,833 shares in the last quarter. Franklin Square Holdings L.P. raised its holdings in shares of Andeavor Logistics by 29.2% during the second quarter. Franklin Square Holdings L.P. now owns 29,190 shares of the oil and gas company’s stock worth $1,241,000 after acquiring an additional 6,600 shares in the last quarter. Alps Advisors Inc. raised its holdings in shares of Andeavor Logistics by 6.1% during the second quarter. Alps Advisors Inc. now owns 7,431,647 shares of the oil and gas company’s stock worth $316,068,000 after acquiring an additional 424,071 shares in the last quarter. Finally, HITE Hedge Asset Management LLC purchased a new stake in shares of Andeavor Logistics during the second quarter worth $25,105,000. Institutional investors and hedge funds own 38.06% of the company’s stock.
Andeavor Logistics Company Profile
Andeavor Logistics LP operates as a diversified midstream company in the United States. The Terminalling and Transportation segment comprises the Northwest Products Pipeline, including a regulated common carrier products pipeline running from Salt Lake City, Utah to Spokane, Washington and a jet fuel pipeline to the Salt Lake City International Airport; a regulated common carrier refined products pipeline system connecting its refinery to its terminals in Anchorage, Alaska; tankage and related equipment at the refinery; and crude oil and refined products terminals and storage facilities in the western, and southwest and midwestern U.S.
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