Tesoro Logistics LP (NYSE:ANDX) was the target of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 2,533,982 shares, a drop of 39.3% from the October 31st total of 4,174,726 shares. Based on an average daily volume of 477,509 shares, the short-interest ratio is presently 5.3 days. Currently, 2.9% of the company’s stock are sold short.
In related news, insider Steven Sterin purchased 1,400 shares of Tesoro Logistics stock in a transaction dated Friday, December 1st. The shares were acquired at an average price of $45.53 per share, with a total value of $63,742.00. Following the completion of the transaction, the insider now owns 9,714 shares of the company’s stock, valued at approximately $442,278.42. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.15% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. IndexIQ Advisors LLC bought a new position in Tesoro Logistics in the third quarter worth about $103,000. Ffcm LLC bought a new position in Tesoro Logistics in the third quarter worth about $110,000. Penserra Capital Management LLC bought a new position in Tesoro Logistics in the third quarter worth about $131,000. Barnett & Company Inc. bought a new position in Tesoro Logistics in the third quarter worth about $136,000. Finally, First Manhattan Co. bought a new position in Tesoro Logistics in the third quarter worth about $150,000. 34.86% of the stock is currently owned by hedge funds and other institutional investors.
Tesoro Logistics (NYSE:ANDX) last issued its earnings results on Wednesday, November 8th. The oil and gas company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.22. Tesoro Logistics had a net margin of 23.50% and a return on equity of 22.48%. The firm had revenue of $444.00 million for the quarter, compared to analysts’ expectations of $414.69 million. During the same quarter last year, the company posted $0.46 earnings per share. Tesoro Logistics’s revenue was up 44.2% on a year-over-year basis. equities analysts expect that Tesoro Logistics will post 2.79 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Friday, November 3rd were issued a $0.9852 dividend. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $3.94 dividend on an annualized basis and a yield of 8.70%. Tesoro Logistics’s dividend payout ratio is currently 167.66%.
Several equities analysts have recently commented on the stock. Scotiabank reaffirmed a “buy” rating and set a $59.00 price target on shares of Tesoro Logistics in a research report on Thursday, August 17th. Mitsubishi UFJ Financial Group raised shares of Tesoro Logistics from a “neutral” rating to an “overweight” rating and set a $60.00 price target on the stock in a research report on Wednesday, August 16th. BidaskClub cut shares of Tesoro Logistics from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Barclays reaffirmed an “overweight” rating and set a $62.00 price target (down previously from $65.00) on shares of Tesoro Logistics in a research report on Thursday, August 10th. Finally, Zacks Investment Research raised shares of Tesoro Logistics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Tesoro Logistics has a consensus rating of “Hold” and an average target price of $55.38.
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Tesoro Logistics Company Profile
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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