Anadarko Petroleum (NYSE:APC) received a $61.00 price target from investment analysts at Jefferies Group in a research note issued on Wednesday. The brokerage presently has a “buy” rating on the oil and gas development company’s stock. Jefferies Group’s price target suggests a potential upside of 19.14% from the company’s current price.
Several other equities research analysts also recently weighed in on APC. Piper Jaffray Companies assumed coverage on shares of Anadarko Petroleum in a research report on Thursday. They set an “overweight” rating and a $56.00 price target for the company. Stifel Nicolaus reissued a “buy” rating and set a $77.00 price target (up previously from $76.00) on shares of Anadarko Petroleum in a research report on Monday, September 25th. Royal Bank of Canada reissued a “buy” rating and set a $62.00 price target on shares of Anadarko Petroleum in a research report on Friday, September 29th. Cowen set a $60.00 price target on shares of Anadarko Petroleum and gave the company a “buy” rating in a research report on Monday, October 16th. Finally, Scotiabank set a $62.00 price target on shares of Anadarko Petroleum and gave the company a “buy” rating in a research report on Saturday, November 25th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $64.38.
Shares of Anadarko Petroleum (NYSE APC) traded up $0.47 on Wednesday, hitting $51.20. 505,952 shares of the company traded hands, compared to its average volume of 5,064,567. 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 has a 12 month low of $39.96 and a 12 month high of $72.32.
Anadarko Petroleum announced that its Board of Directors has initiated a share repurchase plan on Wednesday, September 20th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the oil and gas development company to reacquire up to 10% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Several hedge funds have recently modified their holdings of APC. Dodge & Cox grew its position in shares of Anadarko Petroleum by 43.7% during the 2nd quarter. Dodge & Cox now owns 32,794,208 shares of the oil and gas development company’s stock valued at $1,486,889,000 after acquiring an additional 9,965,600 shares during the period. Franklin Resources Inc. grew its position in shares of Anadarko Petroleum by 106.6% during the 2nd quarter. Franklin Resources Inc. now owns 14,394,958 shares of the oil and gas development company’s stock valued at $652,661,000 after acquiring an additional 7,428,741 shares during the period. Janus Henderson Group PLC grew its position in shares of Anadarko Petroleum by 5,465.5% during the 2nd quarter. Janus Henderson Group PLC now owns 4,182,014 shares of the oil and gas development company’s stock valued at $189,613,000 after acquiring an additional 4,106,872 shares during the period. BlackRock Inc. grew its position in shares of Anadarko Petroleum by 8.2% during the 2nd quarter. BlackRock Inc. now owns 45,766,435 shares of the oil and gas development company’s stock valued at $2,075,051,000 after acquiring an additional 3,466,161 shares during the period. Finally, Boston Partners grew its position in shares of Anadarko Petroleum by 311.0% during the 3rd quarter. Boston Partners now owns 3,651,098 shares of the oil and gas development company’s stock valued at $178,356,000 after acquiring an additional 2,762,834 shares during the period. 87.76% of the stock is owned by hedge funds and other institutional investors.
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.
