Hsbc Holdings PLC lowered its stake in Andeavor Logistics LP (NYSE:ANDX) by 10.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 112,026 shares of the oil and gas company’s stock after selling 12,500 shares during the quarter. Hsbc Holdings PLC owned 0.05% of Andeavor Logistics worth $5,440,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in ANDX. Ferris Capital LLC lifted its position in Andeavor Logistics by 219.9% in the second quarter. Ferris Capital LLC now owns 4,533 shares of the oil and gas company’s stock valued at $193,000 after purchasing an additional 3,116 shares during the last quarter. Cowen Prime Services LLC raised its holdings in shares of Andeavor Logistics by 100.0% during the third quarter. Cowen Prime Services LLC now owns 5,000 shares of the oil and gas company’s stock valued at $243,000 after acquiring an additional 2,500 shares in the last quarter. Cornerstone Wealth Management LLC bought a new position in shares of Andeavor Logistics during the second quarter valued at approximately $312,000. CIBC Asset Management Inc raised its holdings in shares of Andeavor Logistics by 58.3% during the second 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 in the last quarter. Finally, Green Square Capital LLC raised its holdings in shares of Andeavor Logistics by 70.8% during the second 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 in the last quarter. Hedge funds and other institutional investors own 33.22% of the company’s stock.
ANDX has been the subject of a number of recent analyst reports. Credit Suisse Group initiated coverage on Andeavor Logistics in a report on Thursday, October 11th. They set an “underperform” rating and a $46.00 target price for the company. SunTrust Banks downgraded Andeavor Logistics from a “buy” rating to a “hold” rating and decreased their target price for the company from $52.00 to $41.00 in a report on Tuesday, November 13th. Morgan Stanley upped their target price on Andeavor Logistics from $46.00 to $50.00 and gave the company a “hold” rating in a report on Friday, August 24th. TheStreet downgraded Andeavor Logistics from a “b” rating to a “c+” rating in a report on Tuesday, November 13th. Finally, JPMorgan Chase & Co. decreased their target price on Andeavor Logistics from $52.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday, November 14th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $50.00.
In related news, Director Jeff A. Stevens sold 25,000 shares of the company’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $38.44, for a total value of $961,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is owned by corporate insiders.
Shares of ANDX stock opened at $34.36 on Friday. The firm has a market capitalization of $8.48 billion, a P/E ratio of 13.69, a PEG ratio of 1.41 and a beta of 1.65. Andeavor Logistics LP has a twelve month low of $33.78 and a twelve month high of $55.21. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.01 and a current ratio of 1.01.
Andeavor Logistics (NYSE:ANDX) last issued its quarterly earnings results on Wednesday, November 7th. The oil and gas company reported $0.68 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.68. The company had revenue of $843.00 million for the quarter, compared to analysts’ expectations of $571.56 million. Andeavor Logistics had a return on equity of 17.51% and a net margin of 17.74%. The firm’s revenue for the quarter was up 44.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 earnings per share. As a group, equities analysts anticipate that Andeavor Logistics LP will post 2.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Monday, November 5th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 11.99%. This is a boost from Andeavor Logistics’s previous quarterly dividend of $0.97. The ex-dividend date was Friday, November 2nd. Andeavor Logistics’s dividend payout ratio is presently 164.14%.
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Andeavor Logistics 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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