Summit Financial LLC Purchases 2,479 Shares of Andeavor Logistics LP (NYSE:ANDX)

Summit Financial LLC boosted its position in shares of Andeavor Logistics LP (NYSE:ANDX) by 15.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,665 shares of the oil and gas company’s stock after purchasing an additional 2,479 shares during the period. Andeavor Logistics comprises 0.1% of Summit Financial LLC’s holdings, making the stock its 29th largest position. Summit Financial LLC’s holdings in Andeavor Logistics were worth $678,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Cedar Wealth Management LLC boosted its stake in shares of Andeavor Logistics by 119.5% during the 2nd quarter. Cedar Wealth Management LLC now owns 900 shares of the oil and gas company’s stock worth $33,000 after buying an additional 490 shares during the last quarter. Intercontinental Wealth Advisors LLC boosted its stake in shares of Andeavor Logistics by 230.4% during the 1st quarter. Intercontinental Wealth Advisors LLC now owns 717 shares of the oil and gas company’s stock worth $25,000 after buying an additional 500 shares during the last quarter. Lee Financial Co acquired a new position in shares of Andeavor Logistics during the 2nd quarter worth about $49,000. UMB Bank N A MO boosted its stake in shares of Andeavor Logistics by 11.1% during the 1st quarter. UMB Bank N A MO now owns 14,115 shares of the oil and gas company’s stock worth $498,000 after buying an additional 1,415 shares during the last quarter. Finally, Ballentine Partners LLC boosted its stake in shares of Andeavor Logistics by 6.2% during the 1st quarter. Ballentine Partners LLC now owns 31,337 shares of the oil and gas company’s stock worth $1,105,000 after buying an additional 1,818 shares during the last quarter. Hedge funds and other institutional investors own 33.19% of the company’s stock.

ANDX stock remained flat at $$32.17 during mid-day trading on Thursday. 21,465,000 shares of the company’s stock traded hands, compared to its average volume of 571,266. The firm has a fifty day moving average price of $34.73. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.16. The firm has a market cap of $7.90 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.37 and a beta of 1.29. Andeavor Logistics LP has a 1 year low of $31.49 and a 1 year high of $50.82.

ANDX has been the subject of a number of recent research reports. Mitsubishi UFJ Financial Group restated a “neutral” rating on shares of Andeavor Logistics in a research note on Wednesday, May 8th. Zacks Investment Research downgraded shares of Andeavor Logistics from a “hold” rating to a “sell” rating in a research note on Tuesday, June 25th. Credit Suisse Group upgraded shares of Andeavor Logistics from an “underperform” rating to a “neutral” rating in a research note on Monday, May 13th. Finally, ValuEngine downgraded shares of Andeavor Logistics from a “sell” rating to a “strong sell” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $44.14.

Andeavor Logistics Profile

Andeavor Logistics LP operates as a diversified midstream company in the United States. The company's Terminalling and Transportation segment comprises the Northwest pipeline system, 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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