Andeavor Logistics LP (NYSE:ANDX) dropped 6.6% on Tuesday following insider selling activity. The company traded as low as $35.36 and last traded at $35.41. Approximately 1,276,189 shares traded hands during trading, an increase of 102% from the average daily volume of 631,525 shares. The stock had previously closed at $37.90.
Specifically, Director Jeff A. Stevens sold 25,000 shares of the stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $38.44, for a total value of $961,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.15% of the company’s stock.
ANDX has been the subject of several research analyst reports. Credit Suisse Group initiated coverage on Andeavor Logistics in a research report on Thursday, October 11th. They set an “underperform” rating and a $46.00 target price for the company. SunTrust Banks lowered Andeavor Logistics from a “buy” rating to a “hold” rating and decreased their target price for the company from $52.00 to $41.00 in a research report on Tuesday, November 13th. Morgan Stanley raised their target price on Andeavor Logistics from $46.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, August 24th. Wells Fargo & Co raised their target price on Andeavor Logistics from $45.00 to $47.00 and gave the company a “hold” rating in a research report on Thursday, August 9th. Finally, TheStreet lowered Andeavor Logistics from a “b” rating to a “c+” rating in a research report on Tuesday, November 13th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $50.56.
Andeavor Logistics (NYSE:ANDX) last announced its quarterly earnings data on Wednesday, November 7th. The oil and gas company reported $0.68 earnings per share for the quarter, hitting the consensus estimate of $0.68. Andeavor Logistics had a return on equity of 17.51% and a net margin of 17.74%. The company had revenue of $843.00 million during the quarter, compared to analyst estimates of $571.56 million. During the same quarter last year, the firm posted $0.90 EPS. The firm’s revenue for the quarter was up 44.1% on a year-over-year basis. On average, analysts anticipate that Andeavor Logistics LP will post 2.64 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Monday, November 5th were issued a $1.03 dividend. The ex-dividend date was Friday, November 2nd. This represents a $4.12 annualized dividend and a yield of 11.64%. This is a positive change from Andeavor Logistics’s previous quarterly dividend of $0.97. Andeavor Logistics’s dividend payout ratio (DPR) is 164.14%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Clearbridge Investments LLC boosted its stake in Andeavor Logistics by 1.1% in the 3rd quarter. Clearbridge Investments LLC now owns 2,188,602 shares of the oil and gas company’s stock worth $106,279,000 after purchasing an additional 23,390 shares during the period. Diversified Trust Co boosted its stake in Andeavor Logistics by 25.9% in the 3rd quarter. Diversified Trust Co now owns 25,993 shares of the oil and gas company’s stock worth $1,262,000 after purchasing an additional 5,341 shares during the period. MetLife Investment Advisors LLC bought a new position in Andeavor Logistics in the 3rd quarter worth about $7,597,000. Virtus Alternative Investment Advisers Inc. bought a new position in Andeavor Logistics in the 3rd quarter worth about $8,543,000. Finally, Virtus ETF Advisers LLC bought a new position in Andeavor Logistics in the 3rd quarter worth about $34,442,000. 33.22% of the stock is owned by institutional investors.
WARNING: This report was published by Community Financial News and is owned by of Community Financial News. If you are reading this report on another domain, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this report can be read at https://www.com-unik.info/2018/12/04/andeavor-logistics-andx-shares-down-6-6-after-insider-selling.html.
Andeavor Logistics Company Profile (NYSE:ANDX)
Andeavor Logistics LP operates as a diversified midstream company in the United States. The Terminalling and Transportation segment comprises the Northwest Products Pipeline, including a 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; a regulated common carrier refined products pipeline system connecting its refinery to its terminals in Anchorage, Alaska; tankage and related equipment at the refinery; and crude oil and refined products terminals and storage facilities in the western, and southwest and midwestern U.S.
Receive News & Ratings for Andeavor Logistics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Andeavor Logistics and related companies with MarketBeat.com's FREE daily email newsletter.