Andeavor Logistics (ANDX) Bonds Rise 2.4% During Trading

An issue of Andeavor Logistics LP (NYSE:ANDX) bonds rose 2.4% against their face value during trading on Thursday. The high-yield issue of debt has a 5.2% coupon and will mature on December 1, 2047. The debt is now trading at $106.11 and was trading at $105.02 last week. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.

Several equities analysts have recently issued reports on the stock. Bank of America assumed coverage on shares of Andeavor Logistics in a report on Tuesday. They set a “buy” rating on the stock. Barclays cut their price objective on shares of Andeavor Logistics from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, November 10th. BidaskClub upgraded shares of Andeavor Logistics from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 7th. Credit Suisse Group assumed coverage on shares of Andeavor Logistics in a report on Thursday, January 4th. They set a “neutral” rating and a $48.00 price objective on the stock. Finally, SunTrust Banks restated a “buy” rating and set a $62.00 price objective on shares of Andeavor Logistics in a report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Andeavor Logistics presently has a consensus rating of “Hold” and a consensus price target of $53.50.

Andeavor Logistics LP (ANDX) traded up $0.62 on Friday, hitting $54.26. 778,585 shares of the stock traded hands, compared to its average volume of 636,071. Andeavor Logistics LP has a 12-month low of $42.18 and a 12-month high of $60.14. 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 firm has a market capitalization of $11,730.00, a P/E ratio of 22.80, a P/E/G ratio of 3.46 and a beta of 1.11.

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

In other Andeavor Logistics news, Director Jeff A. Stevens purchased 1,144 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were bought at an average price of $46.75 per share, for a total transaction of $53,482.00. Following the acquisition, the director now owns 2,229 shares in the company, valued at $104,205.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven Sterin purchased 1,400 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was acquired at an average price of $45.53 per share, for a total transaction of $63,742.00. Following the acquisition, the insider now owns 9,714 shares in the company, valued at approximately $442,278.42. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. IndexIQ Advisors LLC acquired a new position in Andeavor Logistics in the 3rd quarter worth approximately $103,000. Ffcm LLC acquired a new position in Andeavor Logistics in the 3rd quarter worth approximately $110,000. Penserra Capital Management LLC acquired a new position in Andeavor Logistics in the 3rd quarter worth approximately $131,000. Barnett & Company Inc. purchased a new stake in Andeavor Logistics in the 3rd quarter worth approximately $136,000. Finally, First Manhattan Co. purchased a new stake in Andeavor Logistics in the 3rd quarter worth approximately $150,000. Institutional investors own 34.86% of the company’s stock.

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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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