Andeavor Logistics LP (ANDX) Upgraded to Hold by Zacks Investment Research
Zacks Investment Research upgraded shares of Andeavor Logistics LP (NASDAQ:ANDX) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday morning.
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. “
A number of other research firms have also weighed in on ANDX. Scotiabank reiterated a buy rating and issued a $59.00 price objective on shares of Andeavor Logistics in a research note on Thursday, August 17th. Barclays PLC reiterated an overweight rating and issued a $62.00 price objective (down previously from $65.00) on shares of Andeavor Logistics in a research note on Thursday, August 10th. Bank of America Corp cut their price objective on shares of Andeavor Logistics from $58.00 to $55.00 and set a buy rating on the stock in a research note on Wednesday, August 16th. Credit Suisse Group increased their price objective on shares of Andeavor Logistics from $59.00 to $63.00 and gave the stock a neutral rating in a research note on Friday, August 11th. Finally, Mitsubishi UFJ Financial Group upgraded shares of Andeavor Logistics to a buy rating and set a $60.00 price objective on the stock in a research note on Wednesday, August 16th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $59.80.
Andeavor Logistics (NASDAQ:ANDX) opened at 47.85 on Tuesday. The stock has a 50 day moving average price of $50.51 and a 200-day moving average price of $52.80. Andeavor Logistics has a 52 week low of $43.00 and a 52 week high of $60.14. The stock has a market cap of $5.17 billion and a P/E ratio of 27.50.
Andeavor Logistics (NASDAQ:ANDX) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.01. The firm had revenue of $413 million for the quarter, compared to analysts’ expectations of $441.69 million. On average, equities analysts anticipate that Andeavor Logistics will post $2.51 EPS for the current fiscal year.
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The firm also recently disclosed a dividend, which was paid on Monday, August 14th. Stockholders of record on Friday, August 4th were paid a $0.971 dividend. The ex-dividend date was Wednesday, August 2nd.
In other Andeavor Logistics news, insider Steven Sterin acquired 3,500 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were purchased at an average price of $47.40 per share, for a total transaction of $165,900.00. Following the completion of the purchase, the insider now directly owns 4,714 shares of the company’s stock, valued at $223,443.60. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.
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