Anadarko Petroleum (NYSE:APC) was upgraded by Seaport Global Securities from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, MarketBeat Ratings reports.
Other analysts have also issued research reports about the stock. Stifel Nicolaus restated a “buy” rating on shares of Anadarko Petroleum in a research report on Sunday, September 3rd. Jefferies Group set a $62.00 target price on shares of Anadarko Petroleum and gave the company a “buy” rating in a research report on Monday, August 28th. Royal Bank of Canada set a $62.00 target price on shares of Anadarko Petroleum and gave the company a “buy” rating in a research report on Thursday, August 24th. Scotiabank reiterated a “buy” rating and issued a $64.00 target price on shares of Anadarko Petroleum in a research report on Friday, September 22nd. Finally, Mitsubishi UFJ Financial Group reiterated a “buy” rating and issued a $66.00 target price on shares of Anadarko Petroleum in a research report on Thursday, September 21st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $65.52.
Anadarko Petroleum (APC) traded up $1.26 during mid-day trading on Tuesday, reaching $49.79. 3,294,040 shares of the company traded hands, compared to its average volume of 5,050,543. 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 has a 52 week low of $39.96 and a 52 week high of $72.32.
Anadarko Petroleum declared that its board has authorized a share repurchase program on Wednesday, September 20th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the oil and gas development company to repurchase up to 10% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
A number of institutional investors and hedge funds have recently bought and sold shares of APC. First Trust Advisors LP boosted its position in Anadarko Petroleum by 9.0% during the second quarter. First Trust Advisors LP now owns 225,108 shares of the oil and gas development company’s stock worth $10,206,000 after acquiring an additional 18,612 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Anadarko Petroleum by 6.2% during the second quarter. Advisors Asset Management Inc. now owns 37,070 shares of the oil and gas development company’s stock worth $1,681,000 after acquiring an additional 2,156 shares during the last quarter. Dupont Capital Management Corp acquired a new position in Anadarko Petroleum during the second quarter worth about $262,000. Legal & General Group Plc boosted its position in Anadarko Petroleum by 0.5% during the second quarter. Legal & General Group Plc now owns 2,704,950 shares of the oil and gas development company’s stock worth $122,643,000 after acquiring an additional 14,348 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its position in Anadarko Petroleum by 0.8% during the second quarter. Gamco Investors INC. ET AL now owns 147,071 shares of the oil and gas development company’s stock worth $6,668,000 after acquiring an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 87.76% of the company’s stock.
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.
