Oppenheimer Asset Management Inc. Has $442,000 Stake in Andeavor Logistics LP (ANDX)

Oppenheimer Asset Management Inc. cut its position in Andeavor Logistics LP (NYSE:ANDX) by 38.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,095 shares of the oil and gas company’s stock after selling 5,785 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Andeavor Logistics were worth $442,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Ferris Capital LLC boosted its stake in Andeavor Logistics by 219.9% during the 2nd quarter. Ferris Capital LLC now owns 4,533 shares of the oil and gas company’s stock valued at $193,000 after acquiring an additional 3,116 shares during the last quarter. Vishria Bird Financial Group LLC bought a new position in Andeavor Logistics during the 2nd quarter valued at $241,000. Cornerstone Wealth Management LLC bought a new position in Andeavor Logistics during the 2nd quarter valued at $312,000. CIBC Asset Management Inc boosted its stake in Andeavor Logistics by 58.3% during the 2nd quarter. CIBC Asset Management Inc now owns 7,911 shares of the oil and gas company’s stock valued at $336,000 after acquiring an additional 2,915 shares during the last quarter. Finally, Green Square Capital LLC boosted its stake in Andeavor Logistics by 70.8% during the 2nd quarter. Green Square Capital LLC now owns 8,343 shares of the oil and gas company’s stock valued at $355,000 after acquiring an additional 3,457 shares during the last quarter. Institutional investors and hedge funds own 37.97% of the company’s stock.

A number of research firms have commented on ANDX. Royal Bank of Canada reduced their price objective on shares of Andeavor Logistics from $51.00 to $47.00 and set a “sector perform” rating on the stock in a research note on Tuesday. ValuEngine downgraded shares of Andeavor Logistics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 30th. Zacks Investment Research upgraded shares of Andeavor Logistics from a “sell” rating to a “hold” rating in a research report on Thursday, October 25th. Raymond James downgraded shares of Andeavor Logistics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 23rd. Finally, Credit Suisse Group assumed coverage on shares of Andeavor Logistics in a research report on Thursday, October 11th. They issued an “underperform” rating and a $46.00 price target on the stock. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $52.06.

ANDX stock opened at $40.77 on Thursday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.92 and a current ratio of 0.92. Andeavor Logistics LP has a fifty-two week low of $39.17 and a fifty-two week high of $55.21. The stock has a market capitalization of $8.79 billion, a P/E ratio of 16.24, a PEG ratio of 4.38 and a beta of 1.63.

Andeavor Logistics (NYSE:ANDX) last released its earnings results on Wednesday, November 7th. The oil and gas company reported $0.68 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.68. The firm had revenue of $843.00 million for the quarter, compared to analysts’ expectations of $571.56 million. Andeavor Logistics had a net margin of 16.45% and a return on equity of 18.81%. Andeavor Logistics’s quarterly revenue was up 44.1% on a year-over-year basis. During the same quarter last year, the company earned $0.90 EPS. As a group, research analysts forecast that Andeavor Logistics LP will post 2.72 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Monday, November 5th will be paid a dividend of $1.03 per share. This is a boost from Andeavor Logistics’s previous quarterly dividend of $0.97. The ex-dividend date is Friday, November 2nd. This represents a $4.12 annualized dividend and a yield of 10.11%. Andeavor Logistics’s dividend payout ratio (DPR) is presently 164.14%.

In related news, Director Jeff A. Stevens bought 39,175 shares of the stock in a transaction on Monday, August 27th. The shares were purchased at an average price of $50.14 per share, with a total value of $1,964,234.50. Following the purchase, the director now owns 527,136 shares in the company, valued at $26,430,599.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeff A. Stevens bought 18,256 shares of the stock in a transaction on Thursday, August 16th. The shares were bought at an average cost of $48.70 per share, for a total transaction of $889,067.20. Following the purchase, the director now owns 450,193 shares in the company, valued at approximately $21,924,399.10. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 182,017 shares of company stock worth $8,984,283. 0.15% of the stock is owned by corporate insiders.

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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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Institutional Ownership by Quarter for Andeavor Logistics (NYSE:ANDX)

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