Credit Suisse Group Initiates Coverage on Andeavor Logistics (ANDX)

Credit Suisse Group initiated coverage on shares of Andeavor Logistics (NYSE:ANDX) in a report issued on Thursday, Marketbeat reports. The firm issued a neutral rating and a $48.00 price objective on the oil and gas company’s stock.

Several other equities analysts have also commented on ANDX. Barclays lowered their price objective on Andeavor Logistics from $57.00 to $55.00 and set an overweight rating for the company in a research report on Friday, November 10th. BidaskClub raised Andeavor Logistics from a strong sell rating to a sell rating in a research report on Tuesday, November 7th. SunTrust Banks reissued a buy rating and set a $62.00 price objective on shares of Andeavor Logistics in a research report on Friday, November 10th. Jefferies Group raised their price objective on Andeavor Logistics from $41.00 to $45.00 and gave the company a hold rating in a research report on Monday, November 20th. Finally, Scotiabank set a $59.00 price objective on Andeavor Logistics and gave the company a buy rating in a research report on Thursday, December 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $53.50.

Shares of Andeavor Logistics (NYSE:ANDX) opened at $49.66 on Thursday. The firm has a market cap of $10,732.32, a price-to-earnings ratio of 21.13, a P/E/G ratio of 3.22 and a beta of 1.12. Andeavor Logistics has a fifty-two week low of $42.18 and a fifty-two week high of $60.14. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.15.

Andeavor Logistics (NYSE:ANDX) last released its quarterly earnings results on Wednesday, November 8th. The oil and gas company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.22. The business had revenue of $444.00 million for the quarter, compared to analysts’ expectations of $414.69 million. Andeavor Logistics had a net margin of 23.50% and a return on equity of 22.48%. The firm’s revenue for the quarter was up 44.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 earnings per share. equities analysts expect that Andeavor Logistics will post 2.75 EPS for the current year.

In related news, Director Jeff A. Stevens purchased 1,144 shares of the stock in a transaction dated Monday, December 4th. The stock was purchased at an average price of $46.75 per share, with a total value of $53,482.00. Following the transaction, the director now directly owns 2,229 shares in the company, valued at $104,205.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven Sterin purchased 1,400 shares of the stock in a transaction dated Friday, December 1st. The stock was bought at an average cost of $45.53 per share, with a total value of $63,742.00. Following the transaction, the insider now owns 9,714 shares in the company, valued at $442,278.42. The disclosure for this purchase can be found here. 0.15% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of ANDX. BB&T Corp purchased a new position in shares of Andeavor Logistics in the 3rd quarter worth about $501,000. First Trust Advisors LP purchased a new position in shares of Andeavor Logistics in the 3rd quarter worth about $4,489,000. Saratoga Research & Investment Management purchased a new position in shares of Andeavor Logistics in the 3rd quarter worth about $169,000. Cedar Wealth Management LLC purchased a new position in shares of Andeavor Logistics in the 3rd quarter worth about $169,000. Finally, State of New Jersey Common Pension Fund D purchased a new position in Andeavor Logistics in the 3rd quarter worth about $8,280,000. 34.86% of the stock is owned by hedge funds and other institutional investors.

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Andeavor Logistics Company Profile

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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