Jefferies Group Reaffirms Buy Rating for Anadarko Petroleum (APC)

Anadarko Petroleum (NYSE:APC)‘s stock had its “buy” rating reiterated by stock analysts at Jefferies Group in a note issued to investors on Thursday. They presently have a $78.00 price objective on the oil and gas development company’s stock. Jefferies Group’s price objective indicates a potential upside of 38.96% from the company’s previous close.

A number of other equities research analysts have also recently commented on APC. Barclays increased their target price on Anadarko Petroleum from $35.00 to $37.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 11th. Citigroup cut their target price on Anadarko Petroleum from $60.00 to $58.00 and set a “buy” rating on the stock in a research note on Friday, October 13th. Wolfe Research cut Anadarko Petroleum from an “outperform” rating to a “market perform” rating in a research note on Monday, October 16th. Cowen set a $60.00 target price on Anadarko Petroleum and gave the stock a “buy” rating in a research note on Monday, October 16th. Finally, 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. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $67.95.

Anadarko Petroleum (NYSE APC) traded down $0.07 during midday trading on Thursday, hitting $56.13. The stock had a trading volume of 8,738,166 shares, compared to its average volume of 5,890,000. Anadarko Petroleum has a 52-week low of $39.96 and a 52-week high of $70.00. The stock has a market capitalization of $30,710.00, a PE ratio of -71.05, a P/E/G ratio of 10.48 and a beta of 1.42. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.03 and a current ratio of 1.73.

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

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

A number of hedge funds have recently bought and sold shares of the business. Alexandria Capital LLC lifted its holdings in Anadarko Petroleum by 64.1% in the fourth quarter. Alexandria Capital LLC now owns 111,217 shares of the oil and gas development company’s stock valued at $5,966,000 after acquiring an additional 43,460 shares during the period. Suntrust Banks Inc. lifted its holdings in Anadarko Petroleum by 10.9% in the fourth quarter. Suntrust Banks Inc. now owns 32,284 shares of the oil and gas development company’s stock valued at $1,730,000 after acquiring an additional 3,174 shares during the period. Honeywell International Inc. lifted its holdings in Anadarko Petroleum by 1.9% in the fourth quarter. Honeywell International Inc. now owns 564,700 shares of the oil and gas development company’s stock valued at $30,291,000 after acquiring an additional 10,300 shares during the period. Norinchukin Bank The lifted its holdings in Anadarko Petroleum by 4.9% in the fourth quarter. Norinchukin Bank The now owns 43,746 shares of the oil and gas development company’s stock valued at $2,347,000 after acquiring an additional 2,040 shares during the period. Finally, American International Group Inc. lifted its holdings in Anadarko Petroleum by 2.9% in the fourth quarter. American International Group Inc. now owns 217,022 shares of the oil and gas development company’s stock valued at $11,641,000 after acquiring an additional 6,123 shares during the period. 88.02% of the stock is currently owned by institutional investors.

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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)

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