Zacks Investment Research lowered shares of Anadarko Petroleum (NYSE:APC) from a buy rating to a hold rating in a research report report published on Wednesday.
According to Zacks, “In a year's time, shares of Anadarko Petroleum have outperformed its industry. Anadarko Petroleum’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. However, Anadarko has a few deep-water assets, which run the risks of adverse weather conditions. In addition, the modifications in laws and regulations, rising expenses and competition from major integrated oil companies pose risks to the stock.”
Several other research analysts have also recently commented on the stock. Barclays initiated coverage on shares of Anadarko Petroleum in a report on Wednesday, August 29th. They set an overweight rating and a $77.00 price target for the company. Bank of America set a $100.00 price target on shares of Anadarko Petroleum and gave the stock a buy rating in a report on Tuesday, September 4th. Morgan Stanley lowered their price target on shares of Anadarko Petroleum from $86.00 to $82.00 and set a hold rating for the company in a report on Tuesday, September 4th. Piper Jaffray Companies reiterated an overweight rating and set a $85.00 price target on shares of Anadarko Petroleum in a report on Friday, September 28th. Finally, Mizuho initiated coverage on shares of Anadarko Petroleum in a report on Monday, July 23rd. They set a buy rating and a $102.00 price target for the company. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company has an average rating of Buy and an average price target of $81.37.
NYSE APC opened at $66.00 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.34. Anadarko Petroleum has a 52 week low of $46.74 and a 52 week high of $76.70. The company has a market cap of $34.33 billion, a price-to-earnings ratio of -33.67, a PEG ratio of 1.85 and a beta of 1.26.
Anadarko Petroleum (NYSE:APC) last posted its quarterly earnings results on Tuesday, July 31st. The oil and gas development company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.06). Anadarko Petroleum had a return on equity of 1.85% and a net margin of 3.63%. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the firm earned ($0.75) EPS. The company’s revenue was up 21.2% on a year-over-year basis. As a group, research analysts expect that Anadarko Petroleum will post 3 EPS for the current fiscal year.
Anadarko Petroleum declared that its Board of Directors has initiated a stock repurchase plan on Monday, July 9th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the oil and gas development company to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 26th. Stockholders of record on Wednesday, September 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Tuesday, September 11th. Anadarko Petroleum’s payout ratio is -51.02%.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Anadarko Petroleum by 5.0% in the 2nd quarter. BlackRock Inc. now owns 42,439,494 shares of the oil and gas development company’s stock valued at $3,108,695,000 after buying an additional 2,037,976 shares in the last quarter. FMR LLC boosted its holdings in shares of Anadarko Petroleum by 9.2% in the 2nd quarter. FMR LLC now owns 23,949,562 shares of the oil and gas development company’s stock valued at $1,754,305,000 after buying an additional 2,011,856 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Anadarko Petroleum by 46.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,941,486 shares of the oil and gas development company’s stock valued at $581,714,000 after buying an additional 2,536,173 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Anadarko Petroleum by 29.4% in the 2nd quarter. Janus Henderson Group PLC now owns 5,987,333 shares of the oil and gas development company’s stock valued at $438,573,000 after buying an additional 1,360,899 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Anadarko Petroleum by 14.7% in the 2nd quarter. Jennison Associates LLC now owns 2,937,066 shares of the oil and gas development company’s stock valued at $215,140,000 after buying an additional 377,398 shares in the last quarter. Institutional investors and hedge funds own 86.08% of the company’s stock.
Anadarko Petroleum Company Profile
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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