Atlantic Securities upgraded shares of Anadarko Petroleum Corporation (NYSE:APC) from a neutral rating to an overweight rating in a research note released on Friday morning, MarketBeat reports. The firm currently has $62.00 price target on the oil and gas development company’s stock, up from their prior price target of $49.05.
Several other research firms have also weighed in on APC. BidaskClub raised Anadarko Petroleum Corporation from a strong sell rating to a sell rating in a research note on Wednesday, June 14th. Barclays PLC lowered Anadarko Petroleum Corporation from an equal weight rating to an underweight rating and reduced their price objective for the company from $52.00 to $42.00 in a research note on Wednesday, June 14th. Royal Bank Of Canada reaffirmed a buy rating and issued a $62.00 price objective on shares of Anadarko Petroleum Corporation in a research note on Friday, September 29th. Stifel Nicolaus reaffirmed a buy rating and issued a $77.00 price objective (up from $76.00) on shares of Anadarko Petroleum Corporation in a research note on Monday, September 25th. Finally, Bank of America Corporation reduced their price objective on Anadarko Petroleum Corporation from $81.00 to $80.00 and set a buy rating on the stock in a research note on Tuesday, July 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $69.29.
Shares of Anadarko Petroleum Corporation (NYSE APC) opened at 48.64 on Friday. The stock’s market capitalization is $27.26 billion. The firm’s 50-day moving average is $44.61 and its 200-day moving average is $49.42. Anadarko Petroleum Corporation has a 52 week low of $39.96 and a 52 week high of $73.33.
Anadarko Petroleum Corporation (NYSE:APC) last released its quarterly earnings data on Monday, July 24th. The oil and gas development company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.42). The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.50 billion. Anadarko Petroleum Corporation had a negative net margin of 19.31% and a negative return on equity of 9.71%. The business’s revenue for the quarter was up 41.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.60) earnings per share. On average, equities research analysts anticipate that Anadarko Petroleum Corporation will post ($2.11) EPS for the current fiscal year.
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Anadarko Petroleum Corporation announced that its board has initiated a stock repurchase program on Wednesday, September 20th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the oil and gas development company to repurchase up to 10% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 13th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $0.20 annualized dividend and a yield of 0.41%. Anadarko Petroleum Corporation’s dividend payout ratio is presently -5.14%.
Hedge funds have recently bought and sold shares of the business. Guardian Life Insurance Co. of America increased its holdings in Anadarko Petroleum Corporation by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,156 shares of the oil and gas development company’s stock worth $134,000 after purchasing an additional 15 shares during the last quarter. FNY Partners Fund LP increased its holdings in Anadarko Petroleum Corporation by 2,900.0% during the 2nd quarter. FNY Partners Fund LP now owns 3,000 shares of the oil and gas development company’s stock worth $136,000 after purchasing an additional 2,900 shares during the last quarter. Sun Life Financial INC increased its holdings in Anadarko Petroleum Corporation by 1,363.4% during the 2nd quarter. Sun Life Financial INC now owns 3,000 shares of the oil and gas development company’s stock worth $136,000 after purchasing an additional 2,795 shares during the last quarter. YorkBridge Wealth Partners LLC increased its holdings in Anadarko Petroleum Corporation by 12.5% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 3,606 shares of the oil and gas development company’s stock worth $166,000 after purchasing an additional 402 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in Anadarko Petroleum Corporation by 33.9% during the 1st quarter. Fifth Third Bancorp now owns 2,687 shares of the oil and gas development company’s stock worth $167,000 after purchasing an additional 680 shares during the last quarter. Institutional investors own 85.05% of the company’s stock.
Anadarko Petroleum Corporation Company Profile
Anadarko Petroleum Corporation (Anadarko) is an independent exploration and production company. The Company is engaged in developing, acquiring, and exploring for oil and natural-gas resources. The Company’s segments include Oil and Gas Exploration and Production; Midstream, and Marketing. The Company’s geographical segments include the United States and International.
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