Piper Jaffray Companies reaffirmed their buy rating on shares of Anadarko Petroleum (NYSE:APC) in a report issued on Tuesday. The brokerage currently has a $64.00 price target on the oil and gas development company’s stock.
A number of other brokerages also recently weighed in on APC. Scotiabank set a $62.00 price target on shares of Anadarko Petroleum and gave the stock a buy rating in a report on Saturday, November 25th. Royal Bank of Canada reaffirmed a buy rating and set a $62.00 price target on shares of Anadarko Petroleum in a report on Friday, September 29th. Barclays upped their price objective on shares of Anadarko Petroleum from $39.00 to $42.00 and gave the stock an underweight rating in a research report on Thursday, December 21st. BMO Capital Markets upgraded shares of Anadarko Petroleum from a market perform rating to an outperform rating and upped their price objective for the stock from $53.00 to $57.00 in a research report on Friday, November 17th. Finally, Jefferies Group set a $61.00 price objective on shares of Anadarko Petroleum and gave the stock a buy rating in a research report on Wednesday, December 20th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and nineteen have issued a buy rating to the company. Anadarko Petroleum presently has a consensus rating of Buy and a consensus target price of $65.00.
Shares of Anadarko Petroleum (NYSE:APC) traded up $0.48 during trading on Tuesday, hitting $58.98. 4,910,000 shares of the stock were exchanged, compared to its average volume of 5,470,000. Anadarko Petroleum has a 12 month low of $39.96 and a 12 month high of $72.32. The company has a debt-to-equity ratio of 1.11, a quick ratio of 2.03 and a current ratio of 2.03. The company has a market cap of $32,270.00, a P/E ratio of -16.66 and a beta of 1.38.
Anadarko Petroleum (NYSE:APC) last issued its quarterly earnings results on Tuesday, October 31st. The oil and gas development company reported ($0.77) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.56) by ($0.21). Anadarko Petroleum had a negative return on equity of 9.82% and a negative net margin of 17.13%. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period last year, the company posted ($0.89) EPS. The business’s revenue was up 31.9% on a year-over-year basis. equities analysts predict that Anadarko Petroleum will post -2.2 earnings per share for the current year.
Anadarko Petroleum declared that its Board of Directors has initiated a stock buyback plan on Wednesday, September 20th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the oil and gas development company to purchase up to 10% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 27th. Shareholders of record on Wednesday, December 13th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Tuesday, December 12th. Anadarko Petroleum’s dividend payout ratio (DPR) is currently -5.65%.
A number of hedge funds and other institutional investors have recently made changes to their positions in APC. Dodge & Cox increased its position in Anadarko Petroleum by 43.7% in the 2nd quarter. Dodge & Cox now owns 32,794,208 shares of the oil and gas development company’s stock valued at $1,486,889,000 after acquiring an additional 9,965,600 shares during the period. Janus Henderson Group PLC increased its position in Anadarko Petroleum by 5,465.5% in the 2nd quarter. Janus Henderson Group PLC now owns 4,182,014 shares of the oil and gas development company’s stock valued at $189,613,000 after acquiring an additional 4,106,872 shares during the period. BlackRock Inc. increased its position in Anadarko Petroleum by 8.2% in the 2nd quarter. BlackRock Inc. now owns 45,766,435 shares of the oil and gas development company’s stock valued at $2,075,051,000 after acquiring an additional 3,466,161 shares during the period. Boston Partners increased its position in Anadarko Petroleum by 311.0% in the 3rd quarter. Boston Partners now owns 3,651,098 shares of the oil and gas development company’s stock valued at $178,356,000 after acquiring an additional 2,762,834 shares during the period. Finally, Vanguard Group Inc. increased its position in Anadarko Petroleum by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 39,870,873 shares of the oil and gas development company’s stock valued at $1,807,745,000 after acquiring an additional 999,933 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.
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Anadarko Petroleum 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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