Anadarko Petroleum Co. (NYSE:APC) – Stock analysts at Piper Jaffray Companies dropped their FY2018 EPS estimates for Anadarko Petroleum in a research note issued on Tuesday, October 30th. Piper Jaffray Companies analyst R. Todd now forecasts that the oil and gas development company will post earnings of $3.02 per share for the year, down from their prior estimate of $3.10. Piper Jaffray Companies currently has a “Buy” rating and a $98.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Anadarko Petroleum’s Q4 2018 earnings at $1.12 EPS.
APC has been the topic of several other reports. Bank of America set a $100.00 price objective on Anadarko Petroleum and gave the company a “buy” rating in a research note on Tuesday, July 31st. Zacks Investment Research lowered Anadarko Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Morgan Stanley assumed coverage on Anadarko Petroleum in a research note on Thursday, July 12th. They issued an “equal weight” rating and a $86.00 price objective on the stock. Credit Suisse Group set a $89.00 price target on Anadarko Petroleum and gave the stock a “buy” rating in a research report on Wednesday. Finally, Jefferies Financial Group set a $88.00 price target on Anadarko Petroleum and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Five equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Anadarko Petroleum has an average rating of “Buy” and a consensus price target of $81.75.
APC stock opened at $53.21 on Friday. Anadarko Petroleum has a 1-year low of $46.80 and a 1-year high of $76.70. The company has a market capitalization of $28.91 billion, a PE ratio of -27.15, a P/E/G ratio of 1.57 and a beta of 1.26. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.85 and a current ratio of 0.85.
Anadarko Petroleum (NYSE:APC) last released its quarterly earnings data on Tuesday, October 30th. The oil and gas development company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.02). Anadarko Petroleum had a net margin of 11.49% and a return on equity of 8.70%. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the company posted ($0.77) earnings per share. The company’s revenue for the quarter was up 48.1% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APC. ING Groep NV acquired a new position in Anadarko Petroleum during the 2nd quarter worth $4,363,000. Robeco Institutional Asset Management B.V. lifted its holdings in Anadarko Petroleum by 6.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 69,484 shares of the oil and gas development company’s stock worth $5,090,000 after buying an additional 4,075 shares in the last quarter. Douglas Lane & Associates LLC acquired a new position in Anadarko Petroleum during the 3rd quarter worth $1,712,000. Castleark Management LLC lifted its holdings in Anadarko Petroleum by 34.2% during the 2nd quarter. Castleark Management LLC now owns 121,210 shares of the oil and gas development company’s stock worth $8,879,000 after buying an additional 30,910 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its holdings in Anadarko Petroleum by 18.1% during the 2nd quarter. Federated Investors Inc. PA now owns 105,630 shares of the oil and gas development company’s stock worth $7,737,000 after buying an additional 16,202 shares in the last quarter. Institutional investors and hedge funds own 85.95% of the company’s stock.
Anadarko Petroleum declared that its board has initiated a stock repurchase program on Monday, July 9th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the oil and gas development company to buy up to 2.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
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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