Investment analysts at Credit Suisse Group began coverage on shares of Anadarko Petroleum (NYSE:APC) in a research note issued to investors on Monday, December 11th, MarketBeat Ratings reports. The firm set an “outperform” rating and a $61.00 price target on the oil and gas development company’s stock. Credit Suisse Group’s price objective suggests a potential upside of 15.25% from the company’s previous close.
A number of other brokerages have also weighed in on APC. Stifel Nicolaus reduced their price target on shares of Anadarko Petroleum from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Wednesday, November 1st. Scotiabank reaffirmed a “buy” rating and issued a $62.00 price target on shares of Anadarko Petroleum in a research note on Wednesday, November 1st. Atlantic Securities raised shares of Anadarko Petroleum from a “neutral” rating to an “overweight” rating and increased their target price for the company from $49.05 to $62.00 in a research note on Friday, October 6th. Morgan Stanley set a $55.00 target price on shares of Anadarko Petroleum and gave the company a “hold” rating in a research note on Wednesday, October 18th. Finally, Jefferies Group reissued a “buy” rating and set a $57.00 target price on shares of Anadarko Petroleum in a research note on Tuesday, October 10th. 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 company has a consensus rating of “Buy” and an average price target of $64.52.
Anadarko Petroleum (APC) traded up $0.97 during midday trading on Monday, reaching $52.93. 5,308,059 shares of the company’s stock traded hands, compared to its average volume of 5,624,958. 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. The company has a market cap of $28,430.31, a PE ratio of -14.91 and a beta of 1.38.
Anadarko Petroleum announced that its board has initiated a share buyback plan on Wednesday, September 20th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the oil and gas development company to reacquire up to 10% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Several hedge funds have recently added to or reduced their stakes in APC. Optimum Investment Advisors increased its stake in Anadarko Petroleum by 0.9% in the 2nd quarter. Optimum Investment Advisors now owns 11,541 shares of the oil and gas development company’s stock valued at $523,000 after buying an additional 100 shares during the period. Bienville Capital Management LLC increased its stake in Anadarko Petroleum by 2.0% in the 2nd quarter. Bienville Capital Management LLC now owns 5,840 shares of the oil and gas development company’s stock valued at $265,000 after buying an additional 112 shares during the period. Stonebridge Capital Advisors LLC increased its stake in Anadarko Petroleum by 0.8% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 24,849 shares of the oil and gas development company’s stock valued at $1,127,000 after buying an additional 200 shares during the period. Sheaff Brock Investment Advisors LLC increased its stake in Anadarko Petroleum by 3.7% in the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 5,656 shares of the oil and gas development company’s stock valued at $256,000 after buying an additional 200 shares during the period. Finally, GHP Investment Advisors Inc. increased its stake in Anadarko Petroleum by 7.5% in the 2nd quarter. GHP Investment Advisors Inc. now owns 4,584 shares of the oil and gas development company’s stock valued at $208,000 after buying an additional 320 shares during the period. Institutional investors and hedge funds own 87.76% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Credit Suisse Group Begins Coverage on Anadarko Petroleum (APC)” was published by American Market News and is the property of of American Market News. If you are accessing this article on another website, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this article can be accessed at https://www.americanbankingnews.com/2017/12/24/credit-suisse-group-begins-coverage-on-anadarko-petroleum-apc.html.
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.
