Morgan Stanley Increases Anadarko Petroleum (APC) Price Target to $66.00

Anadarko Petroleum (NYSE:APC) had its price target raised by Morgan Stanley from $55.00 to $66.00 in a research note issued to investors on Wednesday. The firm presently has an “equal weight” rating on the oil and gas development company’s stock. Morgan Stanley’s target price would suggest a potential upside of 6.73% from the company’s current price.

Several other brokerages have also issued reports on APC. Scotiabank set a $62.00 target price on shares of Anadarko Petroleum and gave the company a “buy” rating in a research report on Saturday, November 25th. Royal Bank of Canada reiterated a “buy” rating and set a $62.00 target price on shares of Anadarko Petroleum in a research report on Friday, September 29th. Piper Jaffray Companies initiated coverage on shares of Anadarko Petroleum in a research report on Thursday, December 21st. They set an “overweight” rating and a $56.00 target price for the company. Barclays lifted their target price on shares of Anadarko Petroleum from $39.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday, December 21st. Finally, BMO Capital Markets upgraded shares of Anadarko Petroleum from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $53.00 to $57.00 in a research report on Friday, November 17th. Three 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. The stock currently has an average rating of “Buy” and an average price target of $66.48.

Shares of Anadarko Petroleum (APC) traded up $0.35 during trading on Wednesday, reaching $61.84. 5,621,248 shares of the company’s stock traded hands, compared to its average volume of 5,500,000. Anadarko Petroleum has a twelve month low of $39.96 and a twelve month high of $71.25. The company has a market capitalization of $33,840.00, a price-to-earnings ratio of -17.47 and a beta of 1.38. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 1.11.

Anadarko Petroleum (NYSE:APC) last announced 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). Anadarko Petroleum had a negative net margin of 17.13% and a negative return on equity of 9.82%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the firm earned ($0.89) earnings per share. The company’s revenue for the quarter was up 31.9% compared to the same quarter last year. analysts anticipate that Anadarko Petroleum will post -2.16 EPS for the current year.

Several hedge funds have recently bought and sold shares of the business. Reinhart Partners Inc. purchased a new position in shares of Anadarko Petroleum in the third quarter worth $345,000. Artemis Investment Management LLP increased its stake in shares of Anadarko Petroleum by 15.6% in the third quarter. Artemis Investment Management LLP now owns 42,281 shares of the oil and gas development company’s stock worth $2,066,000 after buying an additional 5,716 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Anadarko Petroleum by 2.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,582,421 shares of the oil and gas development company’s stock worth $126,152,000 after buying an additional 63,165 shares during the period. Adams Natural Resources Fund Inc. purchased a new position in shares of Anadarko Petroleum in the third quarter worth $8,358,000. Finally, Chevy Chase Trust Holdings Inc. increased its stake in shares of Anadarko Petroleum by 7.1% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 642,219 shares of the oil and gas development company’s stock worth $31,373,000 after buying an additional 42,627 shares during the period. 87.81% of the stock is currently owned by hedge funds and other institutional investors.

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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)

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