Koch Industries Inc. acquired a new position in Andeavor Logistics LP (NYSE:ANDX) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 16,651 shares of the oil and gas company’s stock, valued at approximately $769,000.
Other hedge funds have also recently added to or reduced their stakes in the company. California Public Employees Retirement System acquired a new stake in shares of Andeavor Logistics in the 3rd quarter worth about $2,548,000. Bank of Montreal Can increased its holdings in shares of Andeavor Logistics by 20.1% in the 4th quarter. Bank of Montreal Can now owns 1,320,440 shares of the oil and gas company’s stock worth $60,991,000 after acquiring an additional 220,558 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Andeavor Logistics in the 3rd quarter worth about $873,000. Neuberger Berman Group LLC acquired a new stake in shares of Andeavor Logistics in the 3rd quarter worth about $4,521,000. Finally, Wells Fargo & Company MN acquired a new position in Andeavor Logistics during the 3rd quarter valued at about $44,915,000. 40.13% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Jeff A. Stevens bought 1,980 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was bought at an average cost of $46.90 per share, for a total transaction of $92,862.00. Following the completion of the acquisition, the director now directly owns 240,150 shares in the company, valued at approximately $11,263,035. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeff A. Stevens bought 11,980 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was purchased at an average price of $48.00 per share, with a total value of $575,040.00. Following the completion of the acquisition, the director now owns 240,150 shares of the company’s stock, valued at $11,527,200. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 83,929 shares of company stock valued at $3,944,382. Insiders own 0.15% of the company’s stock.
Several research firms have commented on ANDX. Zacks Investment Research raised shares of Andeavor Logistics from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Wednesday, January 17th. Citigroup began coverage on shares of Andeavor Logistics in a research note on Monday, January 22nd. They set a “buy” rating and a $52.52 target price on the stock. Bank of America began coverage on shares of Andeavor Logistics in a research note on Tuesday, January 9th. They set a “buy” rating on the stock. Credit Suisse Group began coverage on shares of Andeavor Logistics in a research note on Thursday, January 4th. They set a “neutral” rating and a $48.00 target price on the stock. Finally, Royal Bank of Canada reissued a “buy” rating and set a $58.00 target price on shares of Andeavor Logistics in a research note on Friday, February 23rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $54.66.
Andeavor Logistics LP (NYSE ANDX) traded down $1.10 during trading hours on Wednesday, hitting $46.43. 255,044 shares of the stock traded hands, compared to its average volume of 524,214. Andeavor Logistics LP has a one year low of $42.18 and a one year high of $55.79. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $10,140.00, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 4.11 and a beta of 1.28.
Andeavor Logistics (NYSE:ANDX) last posted its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.21). Andeavor Logistics had a net margin of 14.67% and a return on equity of 19.31%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $519.00 million. equities analysts forecast that Andeavor Logistics LP will post 2.89 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were given a dividend of $1.00 per share. This is a positive change from Andeavor Logistics’s previous quarterly dividend of $0.99. The ex-dividend date was Tuesday, January 30th. This represents a $4.00 annualized dividend and a dividend yield of 8.62%. Andeavor Logistics’s dividend payout ratio (DPR) is 171.67%.
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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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