Canton Hathaway LLC Invests $1.53 Million in Andeavor Logistics LP (ANDX) Stock

Canton Hathaway LLC acquired a new stake in shares of Andeavor Logistics LP (NYSE:ANDX) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 31,450 shares of the oil and gas company’s stock, valued at approximately $1,527,000. Andeavor Logistics makes up about 1.0% of Canton Hathaway LLC’s holdings, making the stock its 11th biggest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ferris Capital LLC boosted its position in shares of Andeavor Logistics by 219.9% during the 2nd quarter. Ferris Capital LLC now owns 4,533 shares of the oil and gas company’s stock valued at $193,000 after acquiring an additional 3,116 shares during the last quarter. Vishria Bird Financial Group LLC bought a new position in shares of Andeavor Logistics during the 2nd quarter valued at approximately $241,000. Cornerstone Wealth Management LLC bought a new position in shares of Andeavor Logistics during the 2nd quarter valued at approximately $312,000. CIBC Asset Management Inc boosted its position in shares of Andeavor Logistics by 58.3% during the 2nd quarter. CIBC Asset Management Inc now owns 7,911 shares of the oil and gas company’s stock valued at $336,000 after acquiring an additional 2,915 shares during the last quarter. Finally, Green Square Capital LLC boosted its position in shares of Andeavor Logistics by 70.8% during the 2nd quarter. Green Square Capital LLC now owns 8,343 shares of the oil and gas company’s stock valued at $355,000 after acquiring an additional 3,457 shares during the last quarter. 38.06% of the stock is owned by institutional investors and hedge funds.

In other Andeavor Logistics news, Director Jeff A. Stevens bought 39,175 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was acquired at an average cost of $50.14 per share, for a total transaction of $1,964,234.50. Following the completion of the transaction, the director now owns 527,136 shares in the company, valued at $26,430,599.04. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jeff A. Stevens bought 18,256 shares of the firm’s stock in a transaction dated Thursday, August 16th. The shares were acquired at an average price of $48.70 per share, with a total value of $889,067.20. Following the completion of the transaction, the director now owns 450,193 shares of the company’s stock, valued at approximately $21,924,399.10. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 182,017 shares of company stock valued at $8,984,283. Corporate insiders own 0.15% of the company’s stock.

A number of research firms have recently commented on ANDX. Credit Suisse Group started coverage on Andeavor Logistics in a research report on Thursday. They set an “underperform” rating and a $46.00 target price for the company. Zacks Investment Research upgraded Andeavor Logistics from a “sell” rating to a “hold” rating in a research report on Thursday, August 16th. Mitsubishi UFJ Financial Group raised their price target on Andeavor Logistics to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 7th. SunTrust Banks set a $48.00 price target on Andeavor Logistics and gave the stock a “buy” rating in a research report on Monday, July 23rd. Finally, Wells Fargo & Co raised their price target on Andeavor Logistics from $45.00 to $47.00 and gave the stock a “hold” rating in a research report on Thursday, August 9th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $52.71.

ANDX traded down $0.02 during trading on Friday, reaching $47.43. The company had a trading volume of 28,897 shares, compared to its average volume of 635,312. The company has a market cap of $10.55 billion, a PE ratio of 18.59, a P/E/G ratio of 5.24 and a beta of 1.44. Andeavor Logistics LP has a 52 week low of $40.66 and a 52 week high of $55.21. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.57.

Andeavor Logistics (NYSE:ANDX) last released its earnings results on Monday, August 6th. The oil and gas company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.04). Andeavor Logistics had a return on equity of 18.81% and a net margin of 16.45%. The business had revenue of $557.00 million for the quarter, compared to the consensus estimate of $527.61 million. During the same quarter last year, the business posted $0.63 earnings per share. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, research analysts anticipate that Andeavor Logistics LP will post 2.72 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Andeavor Logistics (NYSE:ANDX)

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