Zacks Investment Research cut shares of Andeavor Logistics (NYSE:ANDX) from a hold rating to a strong sell rating in a report issued on Monday morning.
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 research analysts also recently issued reports on the company. Citigroup initiated coverage on Andeavor Logistics in a research note on Monday, January 22nd. They set a buy rating and a $52.52 price objective for the company. Credit Suisse Group initiated coverage on Andeavor Logistics in a research note on Thursday, January 4th. They set a neutral rating and a $48.00 price objective for the company. Bank of America initiated coverage on Andeavor Logistics in a research note on Tuesday, January 9th. They set a buy rating for the company. SunTrust Banks set a $50.00 price objective on Andeavor Logistics and gave the company a buy rating in a research note on Friday, November 17th. Finally, Scotiabank set a $59.00 price objective on Andeavor Logistics and gave the company a buy rating in a research note on Thursday, December 7th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $54.50.
Andeavor Logistics (NYSE:ANDX) last released its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.21). The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $519.00 million. Andeavor Logistics had a net margin of 14.67% and a return on equity of 19.31%. equities research analysts anticipate that Andeavor Logistics will post 3.02 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were issued a $1.00 dividend. The ex-dividend date of this dividend was Tuesday, January 30th. This is a boost from Andeavor Logistics’s previous quarterly dividend of $0.99. This represents a $4.00 dividend on an annualized basis and a yield of 8.30%. Andeavor Logistics’s payout ratio is currently 174.67%.
In other Andeavor Logistics news, Director Jeff A. Stevens purchased 1,980 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were bought at an average cost of $46.90 per share, with a total value of $92,862.00. Following the acquisition, the director now owns 240,150 shares in the company, valued at $11,263,035. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeff A. Stevens purchased 11,980 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average cost of $48.00 per share, for a total transaction of $575,040.00. Following the completion of the acquisition, the director now owns 240,150 shares in the company, valued at approximately $11,527,200. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 16,504 shares of company stock worth $785,126. 0.15% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. IndexIQ Advisors LLC purchased a new position in Andeavor Logistics in the 3rd quarter worth approximately $103,000. Ffcm LLC purchased a new position in Andeavor Logistics in the 3rd quarter worth approximately $110,000. Advisor Group Inc. raised its holdings in shares of Andeavor Logistics by 148.1% during the 4th quarter. Advisor Group Inc. now owns 2,481 shares of the oil and gas company’s stock worth $114,000 after acquiring an additional 1,481 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of Andeavor Logistics during the 3rd quarter worth approximately $131,000. Finally, Barnett & Company Inc. purchased a new stake in shares of Andeavor Logistics during the 3rd quarter worth approximately $136,000. 36.89% of the stock is currently owned by institutional investors.
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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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