Credit Suisse Group Reiterates $71.00 Price Target for Anadarko Petroleum (APC)

Anadarko Petroleum (NYSE:APC) has been given a $71.00 price target by investment analysts at Credit Suisse Group in a research note issued to investors on Tuesday. The firm presently has a “buy” rating on the oil and gas development company’s stock. Credit Suisse Group’s target price indicates a potential upside of 16.93% from the company’s previous close. The analysts noted that the move was a valuation call.

APC has been the subject of several other research reports. Scotiabank set a $62.00 target price on Anadarko Petroleum and gave the stock a “buy” rating in a research note on Saturday, November 25th. Atlantic Securities raised Anadarko Petroleum from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $49.05 to $62.00 in a research note on Friday, October 6th. Stifel Nicolaus cut their target price on Anadarko Petroleum from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Wednesday, November 1st. Morgan Stanley set a $55.00 target price on Anadarko Petroleum and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Anadarko Petroleum in a research note on Friday, September 29th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and nineteen have issued a buy rating to the company. Anadarko Petroleum currently has an average rating of “Buy” and a consensus price target of $65.95.

Anadarko Petroleum (NYSE:APC) traded up $2.52 during mid-day trading on Tuesday, reaching $60.72. The company’s stock had a trading volume of 6,219,500 shares, compared to its average volume of 5,264,729. The company has a debt-to-equity ratio of 1.11, a quick ratio of 2.03 and a current ratio of 2.03. The firm has a market capitalization of $33,250.00, a PE ratio of -17.15 and a beta of 1.38. Anadarko Petroleum has a one year low of $39.96 and a one year high of $71.97.

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

Large investors have recently added to or reduced their stakes in the stock. Fis Group Inc. purchased a new position in Anadarko Petroleum in the third quarter valued at $107,000. Stelac Advisory Services LLC purchased a new position in Anadarko Petroleum in the third quarter valued at $107,000. Steward Partners Investment Advisory LLC purchased a new position in Anadarko Petroleum in the third quarter valued at $116,000. Sun Life Financial INC boosted its holdings in Anadarko Petroleum by 1,363.4% in the second quarter. Sun Life Financial INC now owns 3,000 shares of the oil and gas development company’s stock valued at $136,000 after purchasing an additional 2,795 shares during the period. Finally, YorkBridge Wealth Partners LLC lifted its holdings 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 worth $166,000 after buying an additional 402 shares during the last quarter. Hedge funds and other institutional investors own 87.81% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This news story was reported by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another site, it was illegally copied and reposted in violation of U.S. and international trademark and copyright legislation. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2018/01/23/anadarko-petroleum-apc-given-outperform-rating-at-credit-suisse-group.html.

Anadarko Petroleum 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.

Analyst Recommendations for Anadarko Petroleum (NYSE:APC)

Receive News & Ratings for Anadarko Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Anadarko Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply