Anadarko Petroleum (NYSE:APC) had its target price raised by equities researchers at Barclays from $39.00 to $42.00 in a research note issued to investors on Thursday. The brokerage presently has an “underweight” rating on the oil and gas development company’s stock. Barclays’ target price points to a potential downside of 17.21% from the stock’s previous close.
A number of other research analysts have also weighed in on the stock. Stifel Nicolaus reissued a “buy” rating on shares of Anadarko Petroleum in a 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 report on Monday, August 28th. BMO Capital Markets reissued a “hold” rating and issued a $53.00 target price on shares of Anadarko Petroleum in a report on Monday, September 4th. Scotiabank reissued a “buy” rating and issued a $62.00 target price on shares of Anadarko Petroleum in a report on Wednesday, November 1st. Finally, Morgan Stanley set a $55.00 target price on shares of Anadarko Petroleum and gave the company a “hold” rating in a report on Wednesday, October 18th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $64.52.
Shares of Anadarko Petroleum (NYSE:APC) traded up $1.34 on Thursday, reaching $50.73. 7,822,000 shares of the company’s stock were exchanged, 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 twelve month low of $39.96 and a twelve month high of $72.32.
Anadarko Petroleum announced that its Board of Directors has initiated a share repurchase program 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 repurchase up to 10% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
Institutional investors and hedge funds have recently modified their holdings of the stock. Beacon Capital Management bought a new stake in shares of Anadarko Petroleum during the fourth quarter worth $0. Massey Quick & Co. LLC bought a new stake in shares of Anadarko Petroleum during the fourth quarter worth $106,000. Parallel Advisors LLC bought a new stake in shares of Anadarko Petroleum during the fourth quarter worth $112,000. Clean Yield Group bought a new stake in shares of Anadarko Petroleum during the first quarter worth $105,000. Finally, Ancora Advisors LLC bought a new stake in shares of Anadarko Petroleum in the fourth quarter valued at about $126,000. Institutional investors own 87.76% of the company’s stock.
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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.
