Scotiabank set a $64.00 price objective on Anadarko Petroleum (NYSE:APC) in a research note issued to investors on Friday, November 17th. The brokerage currently has a buy rating on the oil and gas development company’s stock.
Other analysts have also issued reports about the company. Jefferies Group set a $62.00 target price on Anadarko Petroleum and gave the company a buy rating in a research report on Monday, August 28th. Royal Bank Of Canada set a $62.00 price objective on Anadarko Petroleum and gave the stock a buy rating in a report on Thursday, August 24th. Mitsubishi UFJ Financial Group raised Anadarko Petroleum from a neutral rating to a buy rating and set a $66.00 price objective for the company in a report on Thursday, July 27th. Citigroup decreased their price objective on Anadarko Petroleum from $85.00 to $60.00 and set a buy rating for the company in a report on Friday, July 21st. Finally, Bank of America decreased their price objective on Anadarko Petroleum from $81.00 to $80.00 and set a buy rating for the company in a report on Tuesday, July 25th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $67.18.
Shares of Anadarko Petroleum (APC) traded down $0.33 during trading on Friday, reaching $48.26. The company had a trading volume of 2,884,900 shares, compared to its average volume of 5,020,386. Anadarko Petroleum has a twelve month low of $39.96 and a twelve month high of $73.33. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.03 and a quick ratio of 2.03.
Anadarko Petroleum (NYSE:APC) last issued its earnings results on Tuesday, October 31st. The oil and gas development company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.21). Anadarko Petroleum had a negative net margin of 17.13% and a negative return on equity of 9.82%. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm earned ($0.89) earnings per share. The business’s quarterly revenue was up 31.9% on a year-over-year basis. analysts expect that Anadarko Petroleum will post -2.24 EPS for the current fiscal year.
Anadarko Petroleum declared that its Board of Directors has authorized a share repurchase program on Wednesday, September 20th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the oil and gas development company to reacquire up to 10% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Wednesday, December 13th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, December 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.41%. Anadarko Petroleum’s payout ratio is presently -5.63%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Chicago Partners Investment Group LLC boosted its stake in shares of Anadarko Petroleum by 155.0% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 10,201 shares of the oil and gas development company’s stock worth $498,000 after buying an additional 6,201 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Anadarko Petroleum in the third quarter valued at approximately $116,000. Gofen & Glossberg LLC IL purchased a new position in Anadarko Petroleum in the third quarter valued at approximately $265,000. Moors & Cabot Inc. lifted its stake in Anadarko Petroleum by 24.2% in the third quarter. Moors & Cabot Inc. now owns 8,718 shares of the oil and gas development company’s stock valued at $428,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Griffin Asset Management Inc. purchased a new position in Anadarko Petroleum in the third quarter valued at approximately $1,016,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.
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About Anadarko Petroleum
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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