Zacks Investment Research Upgrades Andeavor Logistics (ANDX) to “Hold”

Andeavor Logistics (NYSE:ANDX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a 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. “

ANDX has been the topic of a number of other reports. Jefferies Group increased their price objective on Andeavor Logistics from $41.00 to $45.00 and gave the company a “hold” rating in a report on Monday, November 20th. BidaskClub raised Andeavor Logistics from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 7th. SunTrust Banks reaffirmed a “buy” rating and set a $62.00 target price on shares of Andeavor Logistics in a report on Friday, November 10th. Scotiabank set a $59.00 target price on Andeavor Logistics and gave the stock a “buy” rating in a report on Thursday, December 7th. Finally, Bank of America began coverage on Andeavor Logistics in a report on Tuesday, January 9th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $54.15.

Shares of Andeavor Logistics (NYSE:ANDX) traded up $1.33 during mid-day trading on Tuesday, hitting $49.98. The stock had a trading volume of 296,674 shares, compared to its average volume of 607,268. 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 capitalization of $10,700.00, a price-to-earnings ratio of 21.01, a PEG ratio of 3.08 and a beta of 1.23. Andeavor Logistics has a fifty-two week low of $42.18 and a fifty-two week high of $60.14.

In other Andeavor Logistics news, Director Jeff A. Stevens purchased 1,144 shares of the stock in a transaction on Monday, December 4th. The shares were bought 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 of the company’s stock, valued at approximately $104,205.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Sterin purchased 1,400 shares of the stock in a transaction on Friday, December 1st. The shares were acquired at an average price of $45.53 per share, for a total transaction of $63,742.00. Following the transaction, the insider now directly owns 9,714 shares of the company’s stock, 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.

A number of hedge funds have recently modified their holdings of the business. Tortoise Capital Advisors L.L.C. purchased a new position in Andeavor Logistics during the third quarter worth approximately $612,571,000. Alps Advisors Inc. boosted its position in Andeavor Logistics by 23.7% during the fourth quarter. Alps Advisors Inc. now owns 7,448,151 shares of the oil and gas company’s stock worth $344,030,000 after purchasing an additional 1,425,683 shares in the last quarter. Center Coast Capital Advisors LP purchased a new position in Andeavor Logistics during the third quarter worth approximately $304,622,000. Harvest Fund Advisors LLC purchased a new position in Andeavor Logistics during the third quarter worth approximately $288,697,000. Finally, Advisory Research Inc. lifted its position in shares of Andeavor Logistics by 3.6% in the fourth quarter. Advisory Research Inc. now owns 2,776,735 shares of the oil and gas company’s stock valued at $128,258,000 after acquiring an additional 97,317 shares in the last quarter. Institutional investors own 35.56% 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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