Anadarko Petroleum (NYSE:APC) had its price target trimmed by Morgan Stanley from $86.00 to $82.00 in a report issued on Tuesday morning. The brokerage currently has a hold rating on the oil and gas development company’s stock.
Several other analysts have also commented on APC. Zacks Investment Research raised shares of Anadarko Petroleum from a hold rating to a buy rating and set a $74.00 target price for the company in a research note on Wednesday, May 9th. Wolfe Research raised shares of Anadarko Petroleum from a market perform rating to an outperform rating in a research note on Wednesday, May 16th. SunTrust Banks started coverage on shares of Anadarko Petroleum in a research note on Friday, May 18th. They set a hold rating and a $70.00 target price for the company. ValuEngine raised shares of Anadarko Petroleum from a hold rating to a buy rating in a research note on Friday, June 22nd. Finally, Credit Suisse Group set a $84.00 target price on shares of Anadarko Petroleum and gave the company a buy rating in a research note on Monday, July 2nd. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $79.60.
Shares of NYSE:APC opened at $63.68 on Tuesday. The company has a market capitalization of $32.97 billion, a PE ratio of -32.49, a P/E/G ratio of 2.20 and a beta of 1.27. Anadarko Petroleum has a twelve month low of $40.54 and a twelve month high of $76.70. 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 (NYSE:APC) last issued its quarterly earnings results on Tuesday, July 31st. The oil and gas development company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.06). The company had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.08 billion. Anadarko Petroleum had a return on equity of 1.85% and a net margin of 3.63%. The company’s revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.75) earnings per share. equities analysts forecast that Anadarko Petroleum will post 2.93 earnings per share for the current year.
Anadarko Petroleum announced that its board has initiated a share buyback plan 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 reacquire up to 2.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 26th. Stockholders of record on Wednesday, September 12th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.57%. Anadarko Petroleum’s dividend payout ratio is currently -51.02%.
Several hedge funds have recently added to or reduced their stakes in APC. Bank of New York Mellon Corp raised its holdings in shares of Anadarko Petroleum by 46.9% during the second 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 acquiring an additional 2,536,173 shares during the period. BlackRock Inc. raised its holdings in shares of Anadarko Petroleum by 5.0% during the second 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 acquiring an additional 2,037,976 shares during the period. FMR LLC increased its stake in 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 during the period. Summit Trail Advisors LLC increased its stake in Anadarko Petroleum by 5,171.5% in the 1st quarter. Summit Trail Advisors LLC now owns 1,402,633 shares of the oil and gas development company’s stock valued at $1,403,000 after buying an additional 1,376,025 shares during the period. Finally, Standard Life Aberdeen plc increased its stake in Anadarko Petroleum by 294.2% in the 2nd quarter. Standard Life Aberdeen plc now owns 1,824,553 shares of the oil and gas development company’s stock valued at $133,659,000 after buying an additional 1,361,698 shares during the period. Institutional investors and hedge funds own 86.28% of the company’s stock.
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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