Royal Bank of Canada Trims Andeavor Logistics (ANDX) Target Price to $47.00

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Andeavor Logistics (NYSE:ANDX) had its price target lowered by equities researchers at Royal Bank of Canada to $47.00 in a research note issued to investors on Tuesday, The Fly reports. The firm currently has a “sector perform” rating on the oil and gas company’s stock. Royal Bank of Canada’s target price points to a potential upside of 16.77% from the stock’s current price.

ANDX has been the subject of several other research reports. Zacks Investment Research upgraded shares of Andeavor Logistics from a “sell” rating to a “hold” rating in a research report on Thursday, August 16th. Wells Fargo & Co raised their price objective on shares of Andeavor Logistics from $45.00 to $47.00 and gave the company a “hold” rating in a research report on Thursday, August 9th. Mitsubishi UFJ Financial Group raised their price objective on shares of Andeavor Logistics to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, August 7th. SunTrust Banks set a $48.00 price objective on shares of Andeavor Logistics and gave the company a “buy” rating in a research report on Monday, July 23rd. Finally, Raymond James cut shares of Andeavor Logistics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 23rd. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $52.06.

Shares of ANDX stock opened at $40.25 on Tuesday. Andeavor Logistics has a 12-month low of $39.17 and a 12-month high of $55.21. The stock has a market cap of $8.63 billion, a P/E ratio of 16.04, a PEG ratio of 4.30 and a beta of 1.63. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.57.

Andeavor Logistics (NYSE:ANDX) last announced its quarterly earnings results on Monday, August 6th. The oil and gas company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.04). Andeavor Logistics had a net margin of 16.45% and a return on equity of 18.81%. The firm had revenue of $557.00 million for the quarter, compared to the consensus estimate of $527.61 million. During the same period in the prior year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, equities research analysts expect that Andeavor Logistics will post 2.72 EPS for the current fiscal year.

In other Andeavor Logistics news, Director Jeff A. Stevens purchased 56,700 shares of the stock in a transaction dated Tuesday, August 14th. The stock was bought at an average price of $48.79 per share, for a total transaction of $2,766,393.00. Following the transaction, the director now directly owns 402,954 shares in the company, valued at $19,660,125.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeff A. Stevens purchased 48,374 shares of the stock in a transaction dated Friday, August 10th. The shares were acquired at an average price of $49.41 per share, with a total value of $2,390,159.34. Following the transaction, the director now owns 345,119 shares in the company, valued at $17,052,329.79. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 182,017 shares of company stock valued at $8,984,283. 0.15% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ferris Capital LLC grew its holdings in Andeavor Logistics by 219.9% during the second quarter. Ferris Capital LLC now owns 4,533 shares of the oil and gas company’s stock valued at $193,000 after purchasing an additional 3,116 shares during the period. Vishria Bird Financial Group LLC acquired a new position in Andeavor Logistics during the second quarter valued at approximately $241,000. Cowen Prime Services LLC grew its holdings in Andeavor Logistics by 100.0% during the third quarter. Cowen Prime Services LLC now owns 5,000 shares of the oil and gas company’s stock valued at $243,000 after purchasing an additional 2,500 shares during the period. Cornerstone Wealth Management LLC acquired a new position in Andeavor Logistics during the second quarter valued at approximately $312,000. Finally, CIBC Asset Management Inc grew its holdings in Andeavor Logistics by 58.3% during the second quarter. CIBC Asset Management Inc now owns 7,911 shares of the oil and gas company’s stock valued at $336,000 after purchasing an additional 2,915 shares during the period. Hedge funds and other institutional investors own 37.97% of the company’s stock.

About Andeavor Logistics

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.

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Analyst Recommendations for Andeavor Logistics (NYSE:ANDX)

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