Anadarko Petroleum Corp. Receives New Coverage from Analysts at Canaccord Genuity (APC)
Equities research analysts at Canaccord Genuity assumed coverage on shares of Anadarko Petroleum Corp. (NYSE:APC) in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $115.00 price target on the stock. Canaccord Genuity’s target price indicates a potential upside of 29.29% from the stock’s previous close.
The analysts wrote, “We see APC’s success in high-risk, high-impact offshore exploration growing its NAV and future production as well as providing it the optionality to sell down stakes in big discoveries. APC can reinvest proceeds in its more predictable onshore US operations. This formula is unique among APC’s large-cap E&P peers.”
Shares of Anadarko Petroleum Corp. (NYSE:APC) traded up 1.45% during mid-day trading on Tuesday, hitting $90.24. 1,100,676 shares of the company’s stock traded hands. Anadarko Petroleum Corp. has a 1-year low of $65.82 and a 1-year high of $92.90. The stock has a 50-day moving average of $89.3 and a 200-day moving average of $86.12. The company has a market cap of $45.364 billion and a P/E ratio of 26.25.
Anadarko Petroleum Corp. (NYSE:APC) last issued its quarterly earnings data on Monday, July 29th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.14. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Analysts expect that Anadarko Petroleum Corp. will post $4.40 EPS for the current fiscal year.
APC has been the subject of a number of other recent research reports. Analysts at ISI Group upgraded shares of Anadarko Petroleum Corp. from a “buy” rating to a “strong-buy” rating in a research note to investors on Friday. They now have a $115.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Oppenheimer raised their price target on shares of Anadarko Petroleum Corp. from $100.00 to $110.00 in a research note to investors on Monday, August 5th. They now have an “outperform” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Anadarko Petroleum Corp. in a research note to investors on Tuesday, July 30th. They now have a $93.00 price target on the stock.
Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $104.55.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 25th. Stockholders of record on Wednesday, September 11th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Monday, September 9th. This is a boost from Anadarko Petroleum Corp.’s previous quarterly dividend of $0.09.
Anadarko Petroleum Corporation (NYSE:APC) is an independent exploration and production company.
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