Anadarko Petroleum (APC) to Buyback $500.00 million in Stock

Anadarko Petroleum (NYSE:APC) announced that its Board of Directors has initiated a share repurchase plan, which authorizes the company to repurchase $500.00 million in outstanding shares on Wednesday, February 7th, EventVestor reports. This repurchase authorization authorizes the oil and gas development company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

A number of analysts have issued reports on the stock. Macquarie upgraded shares of Anadarko Petroleum from a “neutral” rating to an “outperform” rating and set a $70.00 price target on the stock in a report on Thursday, February 8th. Morgan Stanley set a $55.00 price target on shares of Anadarko Petroleum and gave the company a “hold” rating in a report on Wednesday, October 18th. Jefferies Group reiterated a “buy” rating and issued a $78.00 price target on shares of Anadarko Petroleum in a report on Thursday, February 8th. Stifel Nicolaus set a $73.00 price target on shares of Anadarko Petroleum and gave the company a “buy” rating in a report on Monday, January 29th. Finally, Cowen set a $60.00 price target on shares of Anadarko Petroleum and gave the company a “buy” rating in a report on Monday, October 16th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $68.35.

Anadarko Petroleum (APC) opened at $57.82 on Tuesday. Anadarko Petroleum has a 52 week low of $39.96 and a 52 week high of $70.00. The company has a market cap of $31,640.00, a price-to-earnings ratio of -73.19, a price-to-earnings-growth ratio of 9.59 and a beta of 1.42. The company has a quick ratio of 2.03, a current ratio of 1.73 and a debt-to-equity ratio of 0.87.

Anadarko Petroleum (NYSE:APC) last released its quarterly earnings results on Tuesday, February 6th. The oil and gas development company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.15. Anadarko Petroleum had a negative net margin of 3.83% and a negative return on equity of 7.48%. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the company earned ($0.50) EPS. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. sell-side analysts anticipate that Anadarko Petroleum will post 0.59 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 14th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 13th. This is a boost from Anadarko Petroleum’s previous quarterly dividend of $0.05. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.73%. Anadarko Petroleum’s payout ratio is currently -25.32%.

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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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