Anadarko Petroleum Corporation (APC) Announces Earnings Results, Misses Expectations By $0.21 EPS
Anadarko Petroleum Corporation (NYSE:APC) released its quarterly earnings results on Tuesday. The oil and gas development company reported ($0.77) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.56) by ($0.21), RTT News reports. Anadarko Petroleum Corporation had a negative net margin of 19.31% and a negative return on equity of 9.71%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the business earned ($0.89) earnings per share. The company’s revenue for the quarter was up 31.9% on a year-over-year basis.
Anadarko Petroleum Corporation (NYSE APC) traded up 1.40% on Tuesday, reaching $49.37. The company’s stock had a trading volume of 6,845,753 shares. The stock’s 50 day moving average price is $47.47 and its 200 day moving average price is $47.67. Anadarko Petroleum Corporation has a 12 month low of $39.96 and a 12 month high of $73.33. The company’s market cap is $27.66 billion.
A number of equities research analysts recently weighed in on APC shares. BMO Capital Markets raised their price target on Anadarko Petroleum Corporation from $50.00 to $53.00 and gave the company a “market perform” rating in a report on Friday, July 14th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $62.00 price target on shares of Anadarko Petroleum Corporation in a report on Friday, September 29th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $48.00 price target (down from $55.00) on shares of Anadarko Petroleum Corporation in a report on Saturday, July 22nd. BidaskClub raised Anadarko Petroleum Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, Scotiabank set a $64.00 price target on Anadarko Petroleum Corporation and gave the company a “buy” rating in a report on Friday, August 11th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $67.48.
Anadarko Petroleum Corporation declared that its board has authorized a stock buyback program on Wednesday, September 20th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the oil and gas development company to purchase up to 10% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
About Anadarko Petroleum Corporation
Anadarko Petroleum Corporation (Anadarko) is an independent exploration and production company. The Company is engaged in developing, acquiring, and exploring for oil and natural-gas resources. The Company’s segments include Oil and Gas Exploration and Production; Midstream, and Marketing. The Company’s geographical segments include the United States and International.
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