Piper Jaffray Companies Reiterates Buy Rating for Anadarko Petroleum (APC)
Piper Jaffray Companies reissued their buy rating on shares of Anadarko Petroleum (NYSE:APC) in a report issued on Tuesday. Piper Jaffray Companies currently has a $64.00 target price on the oil and gas development company’s stock.
A number of other research firms have also issued reports on APC. Citigroup lowered shares of Anadarko Petroleum from a buy rating to a neutral rating and set a $60.00 price objective on the stock. in a research note on Wednesday, January 3rd. Barclays lifted their price objective on shares of Anadarko Petroleum from $39.00 to $42.00 and gave the company an underweight rating in a research note on Thursday, December 21st. Royal Bank of Canada set a $63.00 price objective on shares of Anadarko Petroleum and gave the company a buy rating in a research note on Wednesday, December 20th. Jefferies Group set a $61.00 price objective on shares of Anadarko Petroleum and gave the company a buy rating in a research note on Wednesday, December 20th. Finally, Seaport Global Securities upgraded shares of Anadarko Petroleum from a neutral rating to a buy rating in a research note on Tuesday, December 19th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $65.00.
Anadarko Petroleum (NYSE:APC) traded up $0.48 during midday trading on Tuesday, reaching $58.98. 4,906,159 shares of the company traded hands, compared to its average volume of 5,470,000. Anadarko Petroleum has a 52-week low of $39.96 and a 52-week high of $72.32. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.03 and a quick ratio of 2.03. The stock has a market capitalization of $32,270.00, a price-to-earnings ratio of -16.66 and a beta of 1.38.
Anadarko Petroleum (NYSE:APC) last posted its quarterly earnings results on Tuesday, October 31st. The oil and gas development company reported ($0.77) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by ($0.21). Anadarko Petroleum had a negative net margin of 17.13% and a negative return on equity of 9.82%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the business posted ($0.89) EPS. The company’s quarterly revenue was up 31.9% on a year-over-year basis. sell-side analysts anticipate that Anadarko Petroleum will post -2.21 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 27th. Investors of record on Wednesday, December 13th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, December 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.34%. Anadarko Petroleum’s dividend payout ratio (DPR) is presently -5.65%.
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 buy up to 10% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
Several large investors have recently modified their holdings of the stock. Hexavest Inc. bought a new stake in shares of Anadarko Petroleum in the fourth quarter worth $35,192,000. Nisa Investment Advisors LLC increased its stake in shares of Anadarko Petroleum by 6.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 209,925 shares of the oil and gas development company’s stock worth $11,260,000 after buying an additional 13,442 shares during the last quarter. Sawyer & Company Inc bought a new stake in shares of Anadarko Petroleum in the fourth quarter worth $186,000. Rockland Trust Co. bought a new stake in shares of Anadarko Petroleum in the fourth quarter worth $234,000. Finally, First American Trust FSB bought a new stake in shares of Anadarko Petroleum in the fourth quarter worth $3,324,000. Institutional investors and hedge funds own 87.77% of the company’s stock.
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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.
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