Andeavor Logistics (ANDX) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Andeavor Logistics (NYSE:ANDX) from a hold rating to a buy rating in a report published on Wednesday morning. They currently have $61.00 price target on the oil and gas company’s stock.

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 have also recently issued reports on ANDX. Bank of America assumed coverage on Andeavor Logistics in a research report on Tuesday, January 9th. They set a buy rating on the stock. Credit Suisse Group assumed coverage on Andeavor Logistics in a research report on Thursday, January 4th. They set a neutral rating and a $48.00 price objective on the stock. BidaskClub cut Andeavor Logistics from a hold rating to a sell rating in a research report on Wednesday, September 20th. Mizuho restated a hold rating and set a $56.00 price objective on shares of Andeavor Logistics in a research report on Friday, October 20th. Finally, SunTrust Banks restated a buy rating and set a $62.00 price objective on shares of Andeavor Logistics in a research report on Friday, November 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $54.33.

Shares of Andeavor Logistics (NYSE:ANDX) traded down $1.04 during midday trading on Wednesday, reaching $52.40. The company’s stock had a trading volume of 315,371 shares, compared to its average volume of 583,233. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.15. The company has a market cap of $11,320.00, a P/E ratio of 22.02, a P/E/G ratio of 3.53 and a beta of 1.11. Andeavor Logistics has a 52 week low of $42.18 and a 52 week high of $60.14.

Andeavor Logistics (NYSE:ANDX) last issued its quarterly earnings results on Wednesday, November 8th. The oil and gas company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.23. The company had revenue of $444.00 million for the quarter, compared to the consensus estimate of $414.69 million. Andeavor Logistics had a return on equity of 21.26% and a net margin of 21.85%. The company’s revenue for the quarter was up 44.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 EPS. sell-side analysts expect that Andeavor Logistics will post 2.75 earnings per share for the current year.

In other news, insider Steven Sterin acquired 1,400 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 9,714 shares in the company, valued at approximately $442,278.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeff A. Stevens acquired 1,144 shares of the stock in a transaction dated Monday, December 4th. The shares were purchased 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 disclosure for this purchase can be found here. Insiders own 0.15% of the company’s stock.

Large investors have recently made changes to their positions in the business. IndexIQ Advisors LLC bought a new stake in Andeavor Logistics in the third quarter valued at $103,000. Ffcm LLC bought a new stake in Andeavor Logistics in the third quarter valued at $110,000. Penserra Capital Management LLC bought a new stake in Andeavor Logistics in the third quarter valued at $131,000. Barnett & Company Inc. bought a new stake in Andeavor Logistics in the third quarter valued at $136,000. Finally, First Manhattan Co. bought a new stake in Andeavor Logistics in the third quarter valued at $150,000. Hedge funds and other institutional investors own 34.86% 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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