An issue of Andeavor Logistics LP (NYSE:ANDX) debt rose 2.4% as a percentage of its face value during trading on Thursday. The debt issue has a 5.2% coupon and will mature on December 1, 2047. The bonds in the issue are now trading at $106.11 and were trading at $105.02 last week. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.
ANDX has been the topic of several recent analyst reports. BidaskClub lowered shares of Andeavor Logistics from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 21st. Mizuho restated a “hold” rating and set a $56.00 target price on shares of Andeavor Logistics in a research report on Friday, October 20th. Zacks Investment Research lowered shares of Andeavor Logistics from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. SunTrust Banks set a $50.00 target price on shares of Andeavor Logistics and gave the stock a “buy” rating in a research report on Friday, November 17th. Finally, Scotiabank set a $59.00 target price on shares of Andeavor Logistics and gave the stock a “buy” rating in a research report on Thursday, December 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Andeavor Logistics presently has an average rating of “Hold” and an average price target of $53.50.
Shares of Andeavor Logistics LP (NYSE:ANDX) traded up $0.81 on Thursday, hitting $53.64. 1,022,900 shares of the stock were exchanged, compared to its average volume of 613,022. 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 stock has a market capitalization of $11,590.00, a price-to-earnings ratio of 22.54, a PEG ratio of 3.22 and a beta of 1.11. Andeavor Logistics LP has a twelve month low of $42.18 and a twelve month high of $60.14.
Andeavor Logistics (NYSE:ANDX) last announced 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 $0.68 by $0.22. The business had revenue of $444.00 million for the quarter, compared to analyst estimates of $414.69 million. Andeavor Logistics had a net margin of 23.50% and a return on equity of 22.48%. The company’s revenue for the quarter was up 44.2% compared to the same quarter last year. During the same period last year, the firm posted $0.46 earnings per share. analysts expect that Andeavor Logistics LP will post 2.75 earnings per share for the current fiscal year.
In other news, insider Steven Sterin acquired 1,400 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were purchased at an average cost of $45.53 per share, for a total transaction of $63,742.00. Following the transaction, the insider now directly owns 9,714 shares in the company, valued at approximately $442,278.42. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeff A. Stevens acquired 1,144 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was purchased at an average price of $46.75 per share, for a total transaction of $53,482.00. Following the completion of the transaction, the director now 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.
A number of large investors have recently bought and sold shares of ANDX. BB&T Corp purchased a new position in Andeavor Logistics in the 3rd quarter valued at $501,000. First Trust Advisors LP purchased a new position in Andeavor Logistics in the 3rd quarter valued at $4,489,000. Saratoga Research & Investment Management purchased a new position in Andeavor Logistics in the 3rd quarter valued at $169,000. Cedar Wealth Management LLC purchased a new position in Andeavor Logistics in the 3rd quarter valued at $169,000. Finally, State of New Jersey Common Pension Fund D purchased a new position in Andeavor Logistics in the 3rd quarter valued at $8,280,000. Hedge funds and other institutional investors own 34.86% of the company’s stock.
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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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