Zacks Investment Research Lowers Andeavor Logistics (ANDX) to Sell

Andeavor Logistics (NYSE:ANDX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

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. “

ANDX has been the subject of a number of other reports. Barclays cut their target price on Andeavor Logistics from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, November 10th. BidaskClub cut Andeavor Logistics from a “sell” rating to a “strong sell” rating in a report on Saturday, October 21st. Credit Suisse Group started coverage on Andeavor Logistics in a report on Thursday, January 4th. They set a “neutral” rating and a $48.00 price target for the company. SunTrust Banks reiterated a “buy” rating and set a $62.00 price target on shares of Andeavor Logistics in a report on Friday, November 10th. Finally, Citigroup started coverage on Andeavor Logistics in a report on Monday, January 22nd. They set a “buy” rating and a $52.52 price target for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Andeavor Logistics presently has a consensus rating of “Hold” and a consensus price target of $54.15.

Andeavor Logistics (NYSE ANDX) traded up $0.60 during midday trading on Tuesday, reaching $50.71. The company had a trading volume of 348,320 shares, compared to its average volume of 568,663. Andeavor Logistics has a 1 year low of $42.18 and a 1 year 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 cap of $10,931.15, a P/E ratio of 21.64, a P/E/G ratio of 3.26 and a beta of 1.23.

Andeavor Logistics (NYSE:ANDX) last issued its earnings results on Wednesday, November 8th. The oil and gas company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.23. Andeavor Logistics had a return on equity of 22.48% and a net margin of 23.50%. The business had revenue of $444.00 million during the quarter, compared to the consensus estimate of $414.69 million. During the same period last year, the company earned $0.46 EPS. The company’s revenue for the quarter was up 44.2% on a year-over-year basis. research analysts predict that Andeavor Logistics will post 2.78 EPS for the current fiscal year.

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

Institutional investors have recently made changes to their positions in the stock. Cadence Capital Management LLC raised its position in Andeavor Logistics by 12.6% in the 4th quarter. Cadence Capital Management LLC now owns 216,205 shares of the oil and gas company’s stock valued at $9,987,000 after purchasing an additional 24,250 shares in the last quarter. Alps Advisors Inc. raised its position in Andeavor Logistics by 23.7% in the 4th quarter. Alps Advisors Inc. now owns 7,448,151 shares of the oil and gas company’s stock valued at $344,030,000 after purchasing an additional 1,425,683 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in Andeavor Logistics in the 4th quarter valued at about $231,000. Stuart Chaussee & Associates Inc. acquired a new stake in Andeavor Logistics in the 4th quarter valued at about $155,000. Finally, US Bancorp DE raised its position in Andeavor Logistics by 137.5% in the 4th quarter. US Bancorp DE now owns 27,498 shares of the oil and gas company’s stock valued at $1,270,000 after purchasing an additional 15,919 shares in the last quarter. Institutional investors own 35.11% 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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