Zacks Reaffirms “Neutral” Rating for Anadarko Petroleum (APC)
Anadarko Petroleum (NYSE:APC)‘s stock had its “neutral” rating reissued by Zacks in a research report issued to clients and investors on Tuesday. They currently have a $118.00 target price on the stock. Zacks‘s price objective indicates a potential upside of 5.39% from the stock’s previous close.
Zacks’ analyst wrote, “Anadarko Petroleum Corp. reported mixed results in the second quarter of 2014 – while earnings missed the Zacks Consensus Estimate revenues beat the same. On a year-over-year basis, the top and bottom line increased primarily on the heels of higher natural gas, crude oil & condensates and natural gas liquids sales. Going ahead, the premium properties in the Wattenberg, Eagleford and Wolfcamp basins, and steady progress at the Lucius development project in the Gulf of Mexico will likely boost the company’s production. In addition, the start-up of the Lancaster cryogenic plant, several midstream asset acquisitions and a systematic divestiture program are expected to act as catalysts. In addition, increasing capital investments directed towards exploration and development activities will further strengthen its reserve position. However, volatile commodity prices and stringent drilling regulations remain as causes of concern. Thus, we are maintaining our Neutral recommendation on the stock.”
Several other analysts have also recently commented on the stock. Analysts at Argus raised their price target on shares of Anadarko Petroleum from $120.00 to $125.00 in a research note on Wednesday, August 6th. They now have a “buy” rating on the stock. Separately, analysts at Wed reiterated a “positive” rating on shares of Anadarko Petroleum in a research note on Monday, August 4th. Finally, analysts at Barclays raised their price target on shares of Anadarko Petroleum from $121.00 to $126.00 in a research note on Friday, August 1st. They now have an “equal weight” rating on the stock. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Anadarko Petroleum has an average rating of “Buy” and a consensus target price of $119.21.
Anadarko Petroleum (NYSE:APC) traded up 0.46% on Tuesday, hitting $112.485. 1,563,943 shares of the company’s stock traded hands. Anadarko Petroleum has a 1-year low of $73.60 and a 1-year high of $113.00. The stock’s 50-day moving average is $108.4 and its 200-day moving average is $98.81. The company’s market cap is $56.913 billion.
Anadarko Petroleum (NYSE:APC) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.32 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.30 by $0.02. The company had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter last year, the company posted $1.05 earnings per share. Anadarko Petroleum’s revenue was up 26.9% compared to the same quarter last year. On average, analysts predict that Anadarko Petroleum will post $5.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 24th. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Monday, September 8th.
In other Anadarko Petroleum news, Director John R. Gordon unloaded 20,000 shares of Anadarko Petroleum stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $106.11, for a total transaction of $2,122,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Anadarko Petroleum Corporation (NYSE:APC) is an independent exploration and production company.
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