Anadarko Petroleum (NYSE:APC) received a $63.00 target price from Royal Bank of Canada in a report issued on Wednesday. The firm currently has a “buy” rating on the oil and gas development company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 24.19% from the stock’s previous close.
A number of other analysts have also recently issued reports on the company. Jefferies Group set a $61.00 target price on Anadarko Petroleum and gave the stock a “buy” rating in a research note on Wednesday. Piper Jaffray Companies assumed coverage on shares of Anadarko Petroleum in a research note on Thursday. They set a “buy” rating and a $56.00 price target for the company. Seaport Global Securities raised shares of Anadarko Petroleum from a “neutral” rating to a “buy” rating in a research note on Tuesday. Credit Suisse Group assumed coverage on shares of Anadarko Petroleum in a research note on Monday, December 11th. They set an “outperform” rating and a $61.00 price target for the company. Finally, Scotiabank set a $62.00 price target on shares of Anadarko Petroleum and gave the stock a “buy” rating in a research note on Saturday, November 25th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $64.38.
Shares of Anadarko Petroleum (NYSE:APC) opened at $50.73 on Wednesday. Anadarko Petroleum has a 52 week low of $39.96 and a 52 week high of $72.32. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 1.11.
Anadarko Petroleum announced that its board has approved a stock repurchase plan on Wednesday, September 20th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the oil and gas development company to reacquire up to 10% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Artemis Investment Management LLP lifted its holdings in Anadarko Petroleum by 8.0% during the 2nd quarter. Artemis Investment Management LLP now owns 36,565 shares of the oil and gas development company’s stock valued at $1,658,000 after purchasing an additional 2,698 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Anadarko Petroleum by 1.6% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,121,709 shares of the oil and gas development company’s stock valued at $50,858,000 after purchasing an additional 17,411 shares during the last quarter. Andra AP fonden lifted its holdings in Anadarko Petroleum by 13.7% during the 2nd quarter. Andra AP fonden now owns 84,000 shares of the oil and gas development company’s stock valued at $3,809,000 after purchasing an additional 10,100 shares during the last quarter. Cipher Capital LP lifted its holdings in Anadarko Petroleum by 364.8% during the 2nd quarter. Cipher Capital LP now owns 140,420 shares of the oil and gas development company’s stock valued at $6,367,000 after purchasing an additional 110,209 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in Anadarko Petroleum by 30.2% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 424,746 shares of the oil and gas development company’s stock valued at $19,258,000 after purchasing an additional 98,545 shares during the last quarter. 87.76% of the stock is 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.
