Anadarko Petroleum Corp. Given New $122.00 Price Target at Credit Suisse (APC)
Equities research analysts at Credit Suisse upped their price objective on shares of Anadarko Petroleum Corp. (NYSE:APC) from $109.00 to $122.00 in a research note issued to investors on Wednesday, Stock Ratings Network.com reports. The firm currently has an “outperform” rating on the stock. Credit Suisse’s price target indicates a potential upside of 32.44% from the stock’s previous close.
The analysts wrote, “Given the compelling risk/reward profile, the Credit Suisse Investment Policy Committee (IPC) is adding APC to the U.S. Focus List as the stock is the most compelling name in the large cap E&P group. We are raising our target price to $122, which is at parity with NAV. In the shale era, early identification of a franchise asset, which provides a large inventory of lower risk and high-return development drilling opportunities, can lead to sustained differential stock performance. While APC is blessed with several core franchise assets in the U.S. (Wattenberg, Eagle Ford, Marcellus), initial drilling results suggest that ‘the next big thing’ in their U.S. onshore portfolio could be the Delaware Basin Wolfcamp, based on strong initial results.”
A number of other analysts have also recently weighed in on APC. Analysts at Raymond James cut their price target on shares of Anadarko Petroleum Corp. from $105.00 to $104.00 in a research note to investors on Friday, October 4th. They now have an “outperform” rating on the stock. Separately, analysts at Societe Generale raised their price target on shares of Anadarko Petroleum Corp. from $103.00 to $108.00 in a research note to investors on Wednesday, October 2nd. They now have a “buy” rating on the stock. Finally, analysts at Atlantic Securities initiated coverage on shares of Anadarko Petroleum Corp. in a research note to investors on Tuesday, October 1st. They set a “neutral” rating and a $92.99 price target on the stock. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Anadarko Petroleum Corp. currently has an average rating of “Buy” and an average price target of $105.85.
Anadarko Petroleum Corp. (NYSE:APC) traded down 0.34% during mid-day trading on Wednesday, hitting $91.81. The stock had a trading volume of 853,478 shares. Anadarko Petroleum Corp. has a 52 week low of $65.82 and a 52 week high of $96.75. The stock has a 50-day moving average of $92.99 and a 200-day moving average of $88.72. The company has a market cap of $46.153 billion and a price-to-earnings ratio of 27.18.
Anadarko Petroleum Corp. (NYSE:APC) last announced its earnings results on Monday, July 29th. The company reported $1.05 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.85 earnings per share. Anadarko Petroleum Corp.’s revenue was up 8.5% compared to the same quarter last year. Analysts expect that Anadarko Petroleum Corp. will post $4.53 EPS for the current fiscal year.
Anadarko Petroleum Corporation (NYSE:APC) is an independent exploration and production company.
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