Anadarko Petroleum Corporation (APC) Given a $55.00 Price Target at Morgan Stanley
Morgan Stanley set a $55.00 price target on Anadarko Petroleum Corporation (NYSE:APC) in a research note released on Wednesday. The brokerage currently has a hold rating on the oil and gas development company’s stock.
Other research analysts also recently issued reports about the company. Stifel Nicolaus reissued a buy rating and issued a $78.00 price objective (down from $80.00) on shares of Anadarko Petroleum Corporation in a research note on Tuesday, July 25th. Scotiabank reissued a buy rating and issued a $66.00 price objective on shares of Anadarko Petroleum Corporation in a research note on Friday, June 30th. Citigroup Inc. dropped their price objective on Anadarko Petroleum Corporation from $85.00 to $60.00 and set a buy rating on the stock in a research note on Friday, July 21st. Royal Bank Of Canada reissued a buy rating and issued a $62.00 price objective on shares of Anadarko Petroleum Corporation in a research note on Thursday, July 20th. Finally, Cowen and Company set a $60.00 price objective on Anadarko Petroleum Corporation and gave the company a buy rating in a research note on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $67.48.
Anadarko Petroleum Corporation (NYSE APC) traded down 0.21% during midday trading on Wednesday, hitting $48.67. The stock had a trading volume of 5,751,045 shares. The company’s 50 day moving average price is $46.06 and its 200-day moving average price is $48.58. Anadarko Petroleum Corporation has a 52 week low of $39.96 and a 52 week high of $73.33. The stock’s market capitalization is $27.27 billion.
Anadarko Petroleum Corporation (NYSE:APC) last announced its quarterly earnings data on Monday, July 24th. The oil and gas development company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.42). The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.50 billion. Anadarko Petroleum Corporation had a negative net margin of 19.31% and a negative return on equity of 9.71%. The firm’s revenue for the quarter was up 41.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.60) earnings per share. Equities analysts anticipate that Anadarko Petroleum Corporation will post ($2.06) earnings per share for the current fiscal year.
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Anadarko Petroleum Corporation declared that its Board of Directors has authorized a stock repurchase plan 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 purchase up to 10% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 13th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.41%. The ex-dividend date was Tuesday, September 12th. Anadarko Petroleum Corporation’s dividend payout ratio (DPR) is -5.14%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Guardian Life Insurance Co. of America grew its holdings in Anadarko Petroleum Corporation by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 2,156 shares of the oil and gas development company’s stock valued at $134,000 after purchasing an additional 15 shares during the period. Fifth Third Bancorp grew its holdings in Anadarko Petroleum Corporation by 33.9% during the first quarter. Fifth Third Bancorp now owns 2,687 shares of the oil and gas development company’s stock valued at $167,000 after purchasing an additional 680 shares during the period. FNY Partners Fund LP grew its holdings in Anadarko Petroleum Corporation by 2,900.0% during the second quarter. FNY Partners Fund LP now owns 3,000 shares of the oil and gas development company’s stock valued at $136,000 after purchasing an additional 2,900 shares during the period. Sun Life Financial INC grew its holdings in Anadarko Petroleum Corporation by 1,363.4% during the second quarter. Sun Life Financial INC now owns 3,000 shares of the oil and gas development company’s stock valued at $136,000 after purchasing an additional 2,795 shares during the period. Finally, Global X Management Co. LLC grew its holdings in Anadarko Petroleum Corporation by 27.5% during the first quarter. Global X Management Co. LLC now owns 3,326 shares of the oil and gas development company’s stock valued at $206,000 after purchasing an additional 718 shares during the period. 85.01% of the stock is owned by institutional investors and hedge funds.
About Anadarko Petroleum Corporation
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.
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