Anadarko Petroleum Shares Gap Up After Analyst Upgrade (APC)
Anadarko Petroleum (NYSE:APC) gapped up prior to trading on Friday after Argus raised their price target on the stock from $115.00 to $120.00, American Banking News.com reports. The stock had previously closed at $110.03, but opened at $110.22. Argus currently has a buy rating on the stock. Anadarko Petroleum shares last traded at $111.72, with a volume of 1,925,662 shares traded.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Anadarko Petroleum in a research note on Wednesday, June 11th. They now have a $126.00 price target on the stock, up previously from $116.00. Separately, analysts at Raymond James raised their price target on shares of Anadarko Petroleum from $118.00 to $120.00 in a research note on Tuesday, May 27th. Finally, analysts at Barclays downgraded shares of Anadarko Petroleum from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, May 20th. They now have a $111.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $114.48.
In other Anadarko Petroleum news, CAO Robert K. Reeves sold 50,900 shares of Anadarko Petroleum stock on the open market in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $108.03, for a total transaction of $5,498,727.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
The stock has a 50-day moving average of $102.7 and a 200-day moving average of $89.66. The company’s market cap is $56.296 billion.
Anadarko Petroleum (NYSE:APC) last released its earnings data on Monday, May 5th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.10. The company had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the previous year, the company posted $1.08 earnings per share. Analysts expect that Anadarko Petroleum will post $5.20 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, June 25th. Shareholders of record on Wednesday, June 11th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Monday, June 9th. This is a positive change from Anadarko Petroleum’s previous quarterly dividend of $0.18.
Anadarko Petroleum Corporation (NYSE:APC) is an independent exploration and production company.
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