Anadarko Petroleum (APC) Given a $70.00 Price Target at Cowen

Posted by on Jan 19th, 2018

Anadarko Petroleum (NYSE:APC) has been assigned a $70.00 price target by research analysts at Cowen in a research note issued on Thursday. The brokerage currently has a “buy” rating on the oil and gas development company’s stock. Cowen’s price target suggests a potential upside of 20.27% from the company’s previous close.

Several other research analysts have also weighed in on APC. Scotiabank reaffirmed a “buy” rating and issued a $64.00 target price on shares of Anadarko Petroleum in a research report on Friday, September 22nd. Mitsubishi UFJ Financial Group reaffirmed a “buy” rating and issued a $66.00 target price on shares of Anadarko Petroleum in a research report on Thursday, September 21st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $77.00 target price (up from $76.00) on shares of Anadarko Petroleum in a research report on Monday, September 25th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $62.00 target price on shares of Anadarko Petroleum in a research report on Friday, September 29th. Finally, Atlantic Securities raised Anadarko Petroleum from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $49.05 to $62.00 in a research report on Friday, October 6th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and nineteen have issued a buy rating to the stock. Anadarko Petroleum currently has a consensus rating of “Buy” and a consensus price target of $65.48.

Shares of Anadarko Petroleum (NYSE:APC) traded down $0.09 during mid-day trading on Thursday, reaching $58.20. The company’s stock had a trading volume of 5,996,103 shares, compared to its average volume of 5,260,000. The company has a debt-to-equity ratio of 1.11, a quick ratio of 2.03 and a current ratio of 2.03. Anadarko Petroleum has a 12 month low of $39.96 and a 12 month high of $71.97. The firm has a market cap of $31,840.00, a price-to-earnings ratio of -16.44 and a beta of 1.38.

Anadarko Petroleum (NYSE:APC) last issued its earnings results on Tuesday, October 31st. The oil and gas development company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.21). Anadarko Petroleum had a negative return on equity of 9.82% and a negative net margin of 17.13%. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the company earned ($0.89) earnings per share. The business’s revenue for the quarter was up 31.9% on a year-over-year basis. sell-side analysts forecast that Anadarko Petroleum will post -2.2 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Optimum Investment Advisors increased its holdings in shares of Anadarko Petroleum by 0.9% during the 2nd quarter. Optimum Investment Advisors now owns 11,541 shares of the oil and gas development company’s stock valued at $523,000 after acquiring an additional 100 shares during the last quarter. Stonebridge Capital Advisors LLC boosted its stake in Anadarko Petroleum by 0.8% during the 2nd quarter. Stonebridge Capital Advisors LLC now owns 24,849 shares of the oil and gas development company’s stock valued at $1,127,000 after purchasing an additional 200 shares during the period. YorkBridge Wealth Partners LLC boosted its stake in Anadarko Petroleum by 12.5% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 3,606 shares of the oil and gas development company’s stock valued at $166,000 after purchasing an additional 402 shares during the period. Advisory Services Network LLC boosted its stake in Anadarko Petroleum by 24.0% during the 2nd quarter. Advisory Services Network LLC now owns 4,812 shares of the oil and gas development company’s stock valued at $218,000 after purchasing an additional 932 shares during the period. Finally, Frontier Wealth Management LLC boosted its stake in Anadarko Petroleum by 9.1% during the 2nd quarter. Frontier Wealth Management LLC now owns 12,003 shares of the oil and gas development company’s stock valued at $544,000 after purchasing an additional 1,000 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

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About Anadarko Petroleum

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.

Analyst Recommendations for Anadarko Petroleum (NYSE:APC)