Andeavor Logistics (ANDX) Downgraded by Zacks Investment Research

Andeavor Logistics (NYSE:ANDX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.

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. “

Other equities analysts have also recently issued research reports about the company. Citigroup began coverage on Andeavor Logistics in a report on Monday. They issued a “buy” rating and a $52.52 price target for the company. Jefferies Group upped their price target on Andeavor Logistics from $41.00 to $45.00 and gave the company a “hold” rating in a report on Monday, November 20th. SunTrust Banks set a $50.00 price target on Andeavor Logistics and gave the company a “buy” rating in a report on Friday, November 17th. Scotiabank set a $59.00 price target on Andeavor Logistics and gave the company a “buy” rating in a report on Thursday, December 7th. Finally, Mizuho reaffirmed a “hold” rating and issued a $56.00 price target on shares of Andeavor Logistics in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $54.15.

Andeavor Logistics (ANDX) traded up $0.12 during midday trading on Monday, hitting $52.52. The company had a trading volume of 432,800 shares, compared to its average volume of 571,662. Andeavor Logistics has a fifty-two week low of $42.18 and a fifty-two week high of $60.14. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.15. The firm has a market cap of $11,400.00, a PE ratio of 22.07, a PEG ratio of 3.39 and a beta of 1.11.

Andeavor Logistics (NYSE:ANDX) last posted its quarterly earnings results on Wednesday, November 8th. The oil and gas company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.67 by $0.23. The firm had revenue of $444.00 million during the quarter, compared to analysts’ expectations of $414.69 million. Andeavor Logistics had a return on equity of 22.48% and a net margin of 23.50%. The company’s revenue for the quarter was up 44.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.46 EPS. sell-side analysts predict that Andeavor Logistics will post 2.75 earnings per share for the current fiscal year.

In other Andeavor Logistics news, insider Steven Sterin purchased 1,400 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were acquired at an average cost of $45.53 per share, for a total transaction of $63,742.00. Following the transaction, the insider now directly owns 9,714 shares in the company, valued at $442,278.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeff A. Stevens purchased 1,144 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were acquired at an average price of $46.75 per share, for a total transaction of $53,482.00. Following the completion of the transaction, the director now owns 2,229 shares in the company, valued at $104,205.75. The disclosure for this purchase can be found here. Corporate insiders own 0.15% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tortoise Capital Advisors L.L.C. bought a new position in Andeavor Logistics in the 3rd quarter valued at $612,571,000. Center Coast Capital Advisors LP bought a new position in Andeavor Logistics in the 3rd quarter valued at $304,622,000. Alps Advisors Inc. bought a new position in Andeavor Logistics in the 3rd quarter valued at $301,485,000. Harvest Fund Advisors LLC bought a new position in Andeavor Logistics in the 3rd quarter valued at $288,697,000. Finally, JPMorgan Chase & Co. bought a new position in Andeavor Logistics in the 3rd quarter valued at $126,099,000. Institutional investors and hedge funds own 34.97% of the company’s stock.

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Andeavor Logistics Company Profile

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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