Andeavor Logistics (NYSE:ANDX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
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 analysts also recently issued reports on ANDX. Barclays cut their target price on Andeavor Logistics from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, November 10th. BidaskClub raised Andeavor Logistics from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 7th. Citigroup assumed coverage on Andeavor Logistics in a research note on Monday, January 22nd. They issued a “buy” rating and a $52.52 target price for the company. SunTrust Banks reaffirmed a “buy” rating and issued a $62.00 target price on shares of Andeavor Logistics in a research note on Friday, November 10th. Finally, Jefferies Group raised their target price on Andeavor Logistics from $41.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, November 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $54.15.
Andeavor Logistics (NYSE:ANDX) last issued its earnings results on Wednesday, November 8th. The oil and gas company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.23. Andeavor Logistics had a return on equity of 22.48% and a net margin of 23.50%. The business had revenue of $444.00 million during the quarter, compared to the consensus estimate of $414.69 million. During the same period last year, the company earned $0.46 EPS. The company’s revenue for the quarter was up 44.2% on a year-over-year basis. equities analysts expect that Andeavor Logistics will post 2.78 EPS for the current year.
In other Andeavor Logistics news, Director Jeff A. Stevens purchased 1,144 shares of the stock in a transaction dated Monday, December 4th. The stock was acquired at an average cost of $46.75 per share, for a total transaction of $53,482.00. Following the acquisition, the director now owns 2,229 shares in the company, valued at approximately $104,205.75. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Steven Sterin purchased 1,400 shares of the stock in a transaction dated Friday, December 1st. The shares were acquired at an average price of $45.53 per share, with a total value of $63,742.00. Following the completion of the acquisition, the insider now owns 9,714 shares in the company, valued at approximately $442,278.42. The disclosure for this purchase can be found here. Corporate insiders own 0.15% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. purchased a new position in Andeavor Logistics during the 3rd quarter valued at about $612,571,000. Alps Advisors Inc. boosted its holdings in Andeavor Logistics by 23.7% during the 4th quarter. Alps Advisors Inc. now owns 7,448,151 shares of the oil and gas company’s stock valued at $344,030,000 after acquiring an additional 1,425,683 shares during the period. Center Coast Capital Advisors LP purchased a new position in Andeavor Logistics during the 3rd quarter valued at about $304,622,000. Harvest Fund Advisors LLC purchased a new position in Andeavor Logistics during the 3rd quarter valued at about $288,697,000. Finally, JPMorgan Chase & Co. purchased a new position in Andeavor Logistics during the 3rd quarter valued at about $126,099,000. Institutional investors and hedge funds own 35.11% of the company’s stock.
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About Andeavor 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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