Tesoro Logistics LP (ANDX) Sees Significant Decline in Short Interest

Tesoro Logistics LP (NYSE:ANDX) was the target of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 2,533,982 shares, a drop of 39.3% from the October 31st total of 4,174,726 shares. Currently, 2.9% of the shares of the stock are sold short. Based on an average daily volume of 477,509 shares, the days-to-cover ratio is presently 5.3 days.

Shares of Tesoro Logistics (NYSE ANDX) opened at $44.76 on Friday. Tesoro Logistics has a 12 month low of $42.18 and a 12 month high of $60.14. The firm has a market capitalization of $9,670.00, a price-to-earnings ratio of 17.40, a price-to-earnings-growth ratio of 3.10 and a beta of 1.12. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.01 and a current ratio of 1.01.

Tesoro Logistics (NYSE:ANDX) last announced its quarterly earnings results on Wednesday, November 8th. The oil and gas company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.22. Tesoro Logistics had a return on equity of 22.48% and a net margin of 23.50%. The company had revenue of $444.00 million during the quarter, compared to analysts’ expectations of $414.69 million. During the same period in the prior year, the company earned $0.46 EPS. Tesoro Logistics’s revenue was up 44.2% compared to the same quarter last year. equities analysts anticipate that Tesoro Logistics will post 2.77 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Friday, November 3rd were issued a dividend of $0.9852 per share. This represents a $3.94 dividend on an annualized basis and a dividend yield of 8.80%. The ex-dividend date was Thursday, November 2nd. Tesoro Logistics’s payout ratio is 165.55%.

A number of analysts recently commented on the company. Credit Suisse Group lifted their price objective on Tesoro Logistics from $59.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, August 11th. Barclays reduced their target price on Tesoro Logistics from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, November 10th. Zacks Investment Research cut shares of Tesoro Logistics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. BidaskClub lowered shares of Tesoro Logistics from a “sell” rating to a “strong sell” rating in a report on Saturday, October 21st. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $62.00 target price on shares of Tesoro Logistics in a report on Friday, November 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $55.38.

Large investors have recently bought and sold shares of the company. IndexIQ Advisors LLC bought a new position in Tesoro Logistics during the third quarter valued at approximately $103,000. Ffcm LLC bought a new position in Tesoro Logistics during the third quarter valued at approximately $110,000. Penserra Capital Management LLC bought a new position in Tesoro Logistics during the third quarter valued at approximately $131,000. Barnett & Company Inc. bought a new position in Tesoro Logistics during the third quarter valued at approximately $136,000. Finally, First Manhattan Co. bought a new position in Tesoro Logistics during the third quarter valued at approximately $150,000. Hedge funds and other institutional investors own 34.85% of the company’s stock.

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About Tesoro Logistics

Andeavor Logistics LP, formerly Tesoro Logistics LP, is a full-service logistics company operating in the western and mid-continent regions of the United States. The Company operates through three segments. Its Gathering segment consists of crude oil, natural gas and produced water gathering systems in the Bakken Region and Rockies Region.

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