Zacks Investment Research lowered shares of Anadarko Petroleum (NYSE:APC) from a buy rating to a hold rating in a research report released on Friday.
According to Zacks, “In the last six months, Anadarko Petroleum's gain was higher than the industry it belongs to. Anadarko Petroleum’s earnings and revenues were higher than expectations in the fourth quarter primarily due to higher oil sales revenues. The company’s premium shale properties, which include the Delaware and Denver-Julesburg basins, and the Deepwater Gulf of Mexico, are expected to be the primary production drivers. Its international assets are also contributing toward the increase in its total production. To focus on high-return assets and achieve capital efficiency, Anadarko Petroleum has been systematically selling its non-core properties. The modifications in laws and regulations, rising expenses and competition from major integrated oil companies pose risks to the stock.”
APC has been the topic of a number of other research reports. Scotiabank set a $62.00 target price on shares of Anadarko Petroleum and gave the company a buy rating in a research note on Saturday, November 25th. Stifel Nicolaus lowered their target price on shares of Anadarko Petroleum from $73.00 to $72.00 and set a buy rating on the stock in a research note on Wednesday, November 1st. Barclays upped their target price on shares of Anadarko Petroleum from $39.00 to $42.00 and gave the company an underweight rating in a research note on Thursday, December 21st. Cowen set a $70.00 target price on shares of Anadarko Petroleum and gave the company a buy rating in a research note on Thursday, January 18th. Finally, Royal Bank of Canada set a $63.00 target price on shares of Anadarko Petroleum and gave the company a buy rating in a research note on Wednesday, December 20th. Two analysts have rated the stock with a sell rating, five have given a hold rating and nineteen have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $68.19.
Anadarko Petroleum (NYSE APC) opened at $59.18 on Friday. The company has a market cap of $32,380.00, a PE ratio of -19.93, a PEG ratio of 4.40 and a beta of 1.42. The company has a current ratio of 1.73, a quick ratio of 2.03 and a debt-to-equity ratio of 0.87. Anadarko Petroleum has a 52-week low of $39.96 and a 52-week high of $68.09.
Anadarko Petroleum (NYSE:APC) last announced its quarterly earnings data on Tuesday, February 6th. The oil and gas development company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.15. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.90 billion. Anadarko Petroleum had a negative net margin of 3.83% and a negative return on equity of 7.48%. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.50) earnings per share. sell-side analysts forecast that Anadarko Petroleum will post 1.35 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.69%. This is a boost from Anadarko Petroleum’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Tuesday, March 13th. Anadarko Petroleum’s dividend payout ratio is currently -6.73%.
Anadarko Petroleum announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 7th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the oil and gas development company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
A number of institutional investors have recently modified their holdings of the business. Franklin Resources Inc. grew its stake in Anadarko Petroleum by 13.1% during the fourth quarter. Franklin Resources Inc. now owns 14,853,841 shares of the oil and gas development company’s stock worth $796,760,000 after buying an additional 1,723,576 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Anadarko Petroleum by 6.4% during the third quarter. JPMorgan Chase & Co. now owns 10,257,355 shares of the oil and gas development company’s stock worth $501,380,000 after purchasing an additional 619,056 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Anadarko Petroleum by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 5,382,643 shares of the oil and gas development company’s stock worth $288,074,000 after purchasing an additional 48,739 shares in the last quarter. Boston Partners lifted its position in shares of Anadarko Petroleum by 20.5% during the fourth quarter. Boston Partners now owns 4,399,407 shares of the oil and gas development company’s stock worth $235,984,000 after purchasing an additional 748,309 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Anadarko Petroleum by 2.8% during the fourth quarter. Bessemer Group Inc. now owns 2,767,247 shares of the oil and gas development company’s stock worth $148,436,000 after purchasing an additional 74,461 shares in the last quarter. 87.82% of the stock is currently owned by hedge funds and other institutional investors.
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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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