Anadarko Petroleum Corporation’s (APC) Buy Rating Reiterated at Scotiabank
Anadarko Petroleum Corporation (NYSE:APC)‘s stock had its “buy” rating reaffirmed by analysts at Scotiabank in a research note issued on Wednesday. They currently have a $62.00 target price on the oil and gas development company’s stock. Scotiabank’s price target indicates a potential upside of 25.58% from the stock’s previous close.
A number of other analysts have also issued reports on the company. BMO Capital Markets boosted their price objective on Anadarko Petroleum Corporation from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Friday, July 14th. Royal Bank Of Canada reiterated a “buy” rating and set a $62.00 price objective on shares of Anadarko Petroleum Corporation in a research note on Friday, September 29th. Wells Fargo & Company reiterated a “market perform” rating and set a $48.00 price objective (down from $55.00) on shares of Anadarko Petroleum Corporation in a research note on Saturday, July 22nd. BidaskClub upgraded Anadarko Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, Capital One Financial Corporation reiterated an “overweight” rating on shares of Anadarko Petroleum Corporation in a research note on Wednesday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $67.35.
Anadarko Petroleum Corporation (NYSE:APC) last issued its quarterly earnings results on Tuesday, October 31st. The oil and gas development company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.21). Anadarko Petroleum Corporation had a negative net margin of 19.31% and a negative return on equity of 9.71%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the company earned ($0.89) EPS. The firm’s quarterly revenue was up 31.9% on a year-over-year basis.
Anadarko Petroleum Corporation announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, September 20th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the oil and gas development company to purchase up to 10% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
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A number of hedge funds have recently modified their holdings of APC. BlackRock Inc. boosted its holdings in Anadarko Petroleum Corporation by 3,052.0% during the 1st quarter. BlackRock Inc. now owns 42,300,274 shares of the oil and gas development company’s stock valued at $2,622,619,000 after acquiring an additional 40,958,268 shares during the period. Dodge & Cox purchased a new stake in Anadarko Petroleum Corporation during the 4th quarter valued at about $1,596,608,000. Franklin Resources Inc. boosted its holdings in Anadarko Petroleum Corporation by 106.6% during the 2nd quarter. Franklin Resources Inc. now owns 14,394,958 shares of the oil and gas development company’s stock valued at $652,661,000 after acquiring an additional 7,428,741 shares during the period. Norges Bank purchased a new stake in Anadarko Petroleum Corporation during the 4th quarter valued at about $353,173,000. Finally, Harris Associates L P boosted its holdings in Anadarko Petroleum Corporation by 33.2% during the 4th quarter. Harris Associates L P now owns 17,164,780 shares of the oil and gas development company’s stock valued at $833,865,000 after acquiring an additional 4,281,107 shares during the period. Institutional investors own 85.54% of the company’s stock.
Anadarko Petroleum Corporation Company Profile
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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