Anadarko Petroleum (APC) Upgraded to “Outperform” by Macquarie

Anadarko Petroleum (NYSE:APC) was upgraded by equities research analysts at Macquarie from a “neutral” rating to an “outperform” rating in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage currently has a $70.00 price target on the oil and gas development company’s stock. Macquarie’s price target would suggest a potential upside of 24.71% from the company’s previous close.

Several other research firms have also weighed in on APC. Stifel Nicolaus set a $73.00 price objective on shares of Anadarko Petroleum and gave the company a “buy” rating in a research note on Monday, January 29th. Morgan Stanley upped their price objective on shares of Anadarko Petroleum from $55.00 to $66.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Credit Suisse Group set a $71.00 price objective on shares of Anadarko Petroleum and gave the company a “buy” rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Jefferies Group reiterated a “buy” rating and issued a $78.00 price objective on shares of Anadarko Petroleum in a research note on Thursday. Finally, Cowen set a $70.00 price objective on shares of Anadarko Petroleum and gave the company a “buy” rating in a research note on Thursday, January 18th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the company. Anadarko Petroleum presently has a consensus rating of “Buy” and a consensus target price of $67.95.

Anadarko Petroleum (NYSE:APC) traded down $0.07 during mid-day trading on Thursday, hitting $56.13. 8,738,166 shares of the stock were exchanged, compared to its average volume of 5,890,000. Anadarko Petroleum has a twelve month low of $39.96 and a twelve month high of $70.00. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.73 and a quick ratio of 2.03. The firm has a market capitalization of $30,710.00, a price-to-earnings ratio of -71.05, a P/E/G ratio of 10.48 and a beta of 1.42.

Anadarko Petroleum (NYSE:APC) last released its quarterly earnings data on Tuesday, February 6th. The oil and gas development company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.15. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.90 billion. Anadarko Petroleum had a negative net margin of 3.83% and a negative return on equity of 7.48%. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.50) EPS. equities research analysts predict that Anadarko Petroleum will post 0.59 EPS for the current fiscal year.

Anadarko Petroleum announced that its board has approved a stock buyback program on Wednesday, February 7th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the oil and gas development company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

A number of hedge funds have recently bought and sold shares of the business. Reinhart Partners Inc. bought a new stake in shares of Anadarko Petroleum during the 3rd quarter worth $345,000. Artemis Investment Management LLP boosted its holdings in shares of Anadarko Petroleum by 15.6% during the 3rd 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 boosted its holdings in shares of Anadarko Petroleum by 2.5% during the 3rd 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. bought a new stake in shares of Anadarko Petroleum during the 3rd quarter worth $8,358,000. Finally, Chevy Chase Trust Holdings Inc. boosted its holdings in shares of Anadarko Petroleum by 7.1% during the 3rd 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. 88.02% of the stock is owned by 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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