Credit Agricole SA Increases Anadarko Petroleum Corp. (APC) Price Target to $60.00
Anadarko Petroleum Corp. (NYSE:APC) had its price target lifted by Credit Agricole SA from $58.00 to $60.00 in a research report released on Wednesday morning. The brokerage currently has an underperform rating on the oil and gas development company’s stock.
APC has been the topic of several other reports. BMO Capital Markets reissued a hold rating on shares of Anadarko Petroleum Corp. in a research report on Wednesday, July 6th. Zacks Investment Research raised shares of Anadarko Petroleum Corp. from a hold rating to a buy rating and set a $63.00 target price on the stock in a research report on Tuesday, July 12th. Deutsche Bank AG reissued a hold rating on shares of Anadarko Petroleum Corp. in a research report on Thursday, June 2nd. Goldman Sachs Group Inc. reissued a buy rating and issued a $68.00 target price (up from $67.00) on shares of Anadarko Petroleum Corp. in a research report on Thursday, July 28th. Finally, Royal Bank Of Canada raised their target price on shares of Anadarko Petroleum Corp. from $66.00 to $70.00 and gave the stock an outperform rating in a research report on Tuesday, September 13th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-five have issued a buy rating to the company. Anadarko Petroleum Corp. currently has a consensus rating of Buy and an average price target of $68.32.
Shares of Anadarko Petroleum Corp. (NYSE:APC) opened at 57.52 on Wednesday. The stock’s market capitalization is $29.36 billion. Anadarko Petroleum Corp. has a 12 month low of $28.16 and a 12 month high of $73.87. The firm has a 50 day moving average of $55.01 and a 200-day moving average of $51.76.
Anadarko Petroleum Corp. (NYSE:APC) last released its quarterly earnings results on Tuesday, July 26th. The oil and gas development company reported ($0.60) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.80) by $0.20. Anadarko Petroleum Corp. had a negative net margin of 71.09% and a negative return on equity of 9.88%. The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the company earned $0.01 EPS. The firm’s revenue for the quarter was down 27.4% compared to the same quarter last year. Analysts forecast that Anadarko Petroleum Corp. will post ($2.78) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 14th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Monday, September 12th. Anadarko Petroleum Corp.’s dividend payout ratio (DPR) is presently -1.95%.
A number of large investors have recently modified their holdings of APC. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Anadarko Petroleum Corp. during the second quarter valued at approximately $1,097,000. Kentucky Retirement Systems acquired a new stake in shares of Anadarko Petroleum Corp. during the second quarter valued at approximately $2,311,000. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Anadarko Petroleum Corp. by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 19,472 shares of the oil and gas development company’s stock valued at $1,037,000 after buying an additional 60 shares during the period. Mason Street Advisors LLC acquired a new stake in shares of Anadarko Petroleum Corp. during the second quarter valued at approximately $3,661,000. Finally, CAPROCK Group Inc. acquired a new stake in shares of Anadarko Petroleum Corp. during the second quarter valued at approximately $201,000. Hedge funds and other institutional investors own 86.49% of the company’s stock.
About Anadarko Petroleum Corp.
Anadarko Petroleum Corporation (Anadarko) is an independent exploration and production company. The Company’s segments include Oil and Gas Exploration & Production; Midstream, and Marketing. The Oil and Gas Exploration & Production segment explores for and produces oil, condensate, natural gas and natural gas liquids (NGLs), and focuses on the development and operation of the Company’s liquefied natural gas (LNG) project in Mozambique.
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