Cowen and Company set a $60.00 price target on Anadarko Petroleum Corporation (NYSE:APC) in a research note released on Monday, October 16th. The firm currently has a buy rating on the oil and gas development company’s stock.
A number of other equities research analysts also recently issued reports on APC. BidaskClub downgraded shares of Anadarko Petroleum Corporation from a sell rating to a strong sell rating in a research note on Thursday, June 22nd. Citigroup Inc. assumed coverage on shares of Anadarko Petroleum Corporation in a research note on Thursday, June 29th. They set a positive rating and a $60.00 price objective on the stock. They noted that the move was a valuation call. Susquehanna Bancshares Inc assumed coverage on shares of Anadarko Petroleum Corporation in a research note on Thursday, June 29th. They issued a positive rating and a $60.00 price target on the stock. Scotiabank restated a buy rating and issued a $66.00 price target on shares of Anadarko Petroleum Corporation in a research note on Friday, June 30th. Finally, Sanford C. Bernstein restated an outperform rating on shares of Anadarko Petroleum Corporation in a research note on Friday, July 7th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $67.48.
Anadarko Petroleum Corporation (NYSE:APC) traded up 2.35% during mid-day trading on Monday, hitting $48.81. The stock had a trading volume of 6,509,190 shares. Anadarko Petroleum Corporation has a one year low of $39.96 and a one year high of $73.33. The firm’s 50-day moving average is $46.92 and its 200 day moving average is $48.07. The stock’s market cap is $27.35 billion.
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Anadarko Petroleum Corporation declared that its board has authorized a stock buyback program on Wednesday, September 20th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the oil and gas development company to repurchase up to 10% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
Several hedge funds have recently bought and sold shares of the stock. Bourgeon Capital Management LLC bought a new position in shares of Anadarko Petroleum Corporation in the third quarter worth approximately $327,000. Linscomb & Williams Inc. bought a new position in shares of Anadarko Petroleum Corporation in the third quarter worth approximately $230,000. Crossmark Global Holdings Inc. bought a new position in shares of Anadarko Petroleum Corporation in the third quarter worth approximately $2,441,000. Honeywell International Inc. boosted its stake in Anadarko Petroleum Corporation by 44.3% in the third quarter. Honeywell International Inc. now owns 554,400 shares of the oil and gas development company’s stock worth $27,082,000 after buying an additional 170,300 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Anadarko Petroleum Corporation by 28.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 34,040 shares of the oil and gas development company’s stock worth $1,663,000 after buying an additional 7,631 shares in the last quarter. Institutional investors own 85.23% 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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