Anadarko Petroleum (NYSE:APC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “In the last six months, Anadarko Petroleum's gain was higher than the industry it belongs to. 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.”
Other equities analysts have also issued reports about the company. Scotiabank set a $64.00 target price on Anadarko Petroleum and gave the company a “buy” rating in a report on Friday, November 17th. Stifel Nicolaus lowered their target price on Anadarko Petroleum from $73.00 to $72.00 and set a “buy” rating for the company in a report on Wednesday, November 1st. Royal Bank of Canada set a $63.00 target price on Anadarko Petroleum and gave the company a “buy” rating in a report on Wednesday, December 20th. Jefferies Group set a $61.00 target price on Anadarko Petroleum and gave the company a “buy” rating in a report on Wednesday, December 20th. Finally, Seaport Global Securities raised Anadarko Petroleum from a “neutral” rating to a “buy” rating in a report on Tuesday, December 19th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nineteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $68.24.
Anadarko Petroleum (NYSE APC) traded up $1.87 during trading hours on Thursday, hitting $59.14. The stock had a trading volume of 1,930,349 shares, compared to its average volume of 5,858,800. The company has a market capitalization of $32,460.00, a price-to-earnings ratio of -19.96, a PEG ratio of 4.40 and a beta of 1.42. Anadarko Petroleum has a 52 week low of $39.96 and a 52 week high of $67.14. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.73 and a quick ratio of 1.73.
Anadarko Petroleum (NYSE:APC) last posted its earnings results on Tuesday, February 6th. The oil and gas development company reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.15. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.90 billion. Anadarko Petroleum had a negative return on equity of 7.48% and a negative net margin of 3.83%. The business’s revenue was up 22.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.50) earnings per share. sell-side analysts forecast that Anadarko Petroleum will post 1.35 EPS for the current fiscal year.
Anadarko Petroleum declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 7th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the oil and gas development company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stelac Advisory Services LLC acquired a new stake in Anadarko Petroleum in the third quarter worth approximately $107,000. Fis Group Inc. acquired a new stake in Anadarko Petroleum in the third quarter worth approximately $107,000. Steward Partners Investment Advisory LLC acquired a new stake in Anadarko Petroleum in the third quarter worth approximately $116,000. Cerebellum GP LLC acquired a new stake in Anadarko Petroleum in the fourth quarter worth approximately $131,000. Finally, Resources Investment Advisors Inc. acquired a new stake in Anadarko Petroleum in the fourth quarter worth approximately $142,000. Hedge funds and other institutional investors own 83.82% 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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