Morningstar Issues “BBB-” Credit Rating to Anadarko Petroleum (APC)
Anadarko Petroleum (NYSE:APC) has earned a “BBB-” credit rating from Morningstar. The agency’s “BBB-” rating suggests that the company is a moderate default risk. They also issued a negative credit outlook for the company and gave their stock a three star rating.
A number of other analysts have also recently weighed in on APC. Analysts at Zacks reiterated a “neutral” rating on shares of Anadarko Petroleum in a research note on Tuesday, August 26th. They now have a $118.00 price target on the stock. Separately, 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. Finally, analysts at Wed reiterated a “positive” rating on shares of Anadarko Petroleum in a research note on Monday, August 4th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $119.21.
Shares of Anadarko Petroleum (NYSE:APC) opened at 112.69 on Tuesday. Anadarko Petroleum has a 52 week low of $73.60 and a 52 week high of $113.51. The stock has a 50-day moving average of $108.9 and a 200-day moving average of $99.44. The company’s market cap is $57.017 billion. Anadarko Petroleum also was the recipient of a significant drop in short interest in August. As of August 15th, there was short interest totalling 8,041,034 shares, a drop of 28.5% from the July 31st total of 11,251,894 shares. Based on an average daily volume of 4,015,200 shares, the short-interest ratio is presently 2.0 days. Approximately 1.6% of the shares of the stock are short sold.
Anadarko Petroleum (NYSE:APC) last released its 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. Analysts expect that Anadarko Petroleum will post $5.44 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 24th. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Monday, September 8th.
Anadarko Petroleum Corporation (NYSE:APC) is an independent exploration and production company.
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