Piper Jaffray Companies Begins Coverage on Anadarko Petroleum (APC)

Analysts at Piper Jaffray Companies started coverage on shares of Anadarko Petroleum (NYSE:APC) in a report issued on Thursday, MarketBeat reports. The firm set an “overweight” rating and a $56.00 price target on the oil and gas development company’s stock. Piper Jaffray Companies’ price target points to a potential upside of 10.39% from the company’s previous close.

A number of other research analysts have also issued reports on the stock. Seaport Global Securities upgraded shares of Anadarko Petroleum from a “neutral” rating to a “buy” rating in a research report on Tuesday. Credit Suisse Group began coverage on shares of Anadarko Petroleum in a research report on Monday, December 11th. They set an “outperform” rating and a $61.00 target price on the stock. Scotiabank set a $62.00 target price on shares of Anadarko Petroleum and gave the stock a “buy” rating in a research report on Saturday, November 25th. Barclays increased their target price on shares of Anadarko Petroleum from $37.00 to $39.00 and gave the stock an “underweight” rating in a research report on Monday, November 20th. Finally, BMO Capital Markets upgraded shares of Anadarko Petroleum from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $53.00 to $57.00 in a research report on Friday, November 17th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $64.52.

Shares of Anadarko Petroleum (NYSE APC) traded up $1.34 during trading hours on Thursday, hitting $50.73. 7,822,000 shares of the company’s stock were exchanged, compared to its average volume of 5,064,567. Anadarko Petroleum has a 1 year low of $39.96 and a 1 year high of $72.32. 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 (NYSE:APC) last announced its earnings results on Tuesday, October 31st. The oil and gas development company reported ($0.77) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.56) by ($0.21). Anadarko Petroleum had a negative return on equity of 9.82% and a negative net margin of 17.13%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the company earned ($0.89) EPS. The business’s revenue for the quarter was up 31.9% on a year-over-year basis. equities analysts expect that Anadarko Petroleum will post -2.25 earnings per share for the current fiscal year.

Anadarko Petroleum announced that its Board of Directors has authorized a share buyback program on Wednesday, September 20th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the oil and gas development company to reacquire up to 10% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in Anadarko Petroleum by 8.2% in 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 purchasing an additional 3,466,161 shares during the last quarter. Vanguard Group Inc. lifted its stake in Anadarko Petroleum by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 39,870,873 shares of the oil and gas development company’s stock valued at $1,807,745,000 after purchasing an additional 999,933 shares during the last quarter. Dodge & Cox lifted its stake in Anadarko Petroleum by 43.7% in 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 purchasing an additional 9,965,600 shares during the last quarter. State Street Corp lifted its stake in Anadarko Petroleum by 0.8% in the 2nd quarter. State Street Corp now owns 28,641,263 shares of the oil and gas development company’s stock valued at $1,298,599,000 after purchasing an additional 218,628 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Anadarko Petroleum by 106.6% in 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 purchasing an additional 7,428,741 shares during the last quarter. 87.76% 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)