Piper Jaffray reiterated their buy rating on shares of Anadarko Petroleum (NYSE:APC) in a research report released on Wednesday morning. The brokerage currently has a $77.00 target price on the oil and gas development company’s stock.
Other equities analysts also recently issued reports about the stock. Credit Suisse Group set a $71.00 price objective on shares of Anadarko Petroleum and gave the company a buy rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Cowen set a $70.00 price objective on shares of Anadarko Petroleum and gave the company a buy rating in a research note on Thursday, January 18th. Royal Bank of Canada set a $63.00 price objective on shares of Anadarko Petroleum and gave the company a buy rating in a research note on Wednesday, December 20th. Jefferies Group set a $61.00 price objective on shares of Anadarko Petroleum and gave the company a buy rating in a research note on Wednesday, December 20th. Finally, Seaport Global Securities raised shares of Anadarko Petroleum from a neutral rating to a buy rating in a research note on Tuesday, December 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $68.15.
Shares of NYSE:APC opened at $66.49 on Wednesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.73 and a current ratio of 1.73. Anadarko Petroleum has a 12 month low of $39.96 and a 12 month high of $67.24.
Anadarko Petroleum (NYSE:APC) last issued its quarterly earnings data on Tuesday, February 6th. The oil and gas development company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.03 by $0.15. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.90 billion. Anadarko Petroleum had a negative net margin of 3.83% and a negative return on equity of 7.48%. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.50) earnings per share. analysts forecast that Anadarko Petroleum will post 1.73 EPS for the current fiscal year.
Anadarko Petroleum declared that its Board of Directors has authorized a share buyback plan 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 buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th were paid a dividend of $0.25 per share. This is an increase from Anadarko Petroleum’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, March 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.50%. Anadarko Petroleum’s dividend payout ratio (DPR) is currently -51.02%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. LPL Financial LLC increased its stake in shares of Anadarko Petroleum by 12.3% during the fourth quarter. LPL Financial LLC now owns 79,895 shares of the oil and gas development company’s stock valued at $4,286,000 after purchasing an additional 8,761 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of Anadarko Petroleum during the fourth quarter valued at approximately $55,469,000. Xact Kapitalforvaltning AB increased its stake in shares of Anadarko Petroleum by 14.3% during the fourth quarter. Xact Kapitalforvaltning AB now owns 53,994 shares of the oil and gas development company’s stock valued at $2,896,000 after purchasing an additional 6,756 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Anadarko Petroleum by 7.2% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,454 shares of the oil and gas development company’s stock valued at $723,000 after purchasing an additional 906 shares in the last quarter. Finally, American International Group Inc. increased its stake in shares of Anadarko Petroleum by 2.9% during the fourth quarter. American International Group Inc. now owns 217,022 shares of the oil and gas development company’s stock valued at $11,641,000 after purchasing an additional 6,123 shares in the last quarter. 88.01% of the stock is owned by institutional investors and hedge funds.
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About Anadarko Petroleum
Anadarko Petroleum Corporation engages in the exploration, development, production, and marketing of oil and gas properties. It operates through three segments: Exploration and Production, WES Midstream, and Other Midstream. The company explores for and produces oil, natural gas, and natural gas liquids (NGLs).
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