Anadarko Petroleum (NYSE:APC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $76.00 price target on the oil and gas development company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.38% from the company’s previous close.
According to Zacks, “In a year's time, shares of Anadarko Petroleum have outperformed its industry. Anadarko Petroleum’s premium shale properties, which include the Delaware and Denver-Julesburg basins, and the Deepwater Gulf of Mexico, are expected to be the primary production drivers. Its international assets are also contributing toward the increase in its total production. To focus on high-return assets and achieve capital efficiency, Anadarko Petroleum has been systematically selling its non-core properties. However, Anadarko has a few deep-water assets, which run the risks of adverse weather conditions. In addition, the modifications in laws and regulations, rising expenses and competition from major integrated oil companies pose risks to the stock.”
APC has been the topic of several other research reports. Bank of America set a $100.00 price objective on Anadarko Petroleum and gave the stock a “buy” rating in a report on Tuesday, July 31st. Piper Jaffray Companies set a $85.00 price objective on Anadarko Petroleum and gave the stock a “buy” rating in a report on Sunday, September 30th. Morgan Stanley started coverage on Anadarko Petroleum in a report on Thursday, July 12th. They set an “equal weight” rating and a $86.00 price objective on the stock. ValuEngine upgraded Anadarko Petroleum from a “hold” rating to a “buy” rating in a report on Friday, June 22nd. Finally, Jefferies Financial Group set a $88.00 price objective on Anadarko Petroleum and gave the stock a “buy” rating in a report on Tuesday, August 7th. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Anadarko Petroleum currently has an average rating of “Buy” and an average price target of $81.37.
Anadarko Petroleum (NYSE:APC) last posted its quarterly earnings data on Tuesday, July 31st. The oil and gas development company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.06). Anadarko Petroleum had a return on equity of 1.85% and a net margin of 3.63%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the business earned ($0.75) EPS. Anadarko Petroleum’s revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, equities research analysts predict that Anadarko Petroleum will post 2.96 EPS for the current fiscal year.
Anadarko Petroleum declared that its Board of Directors has authorized a stock repurchase program on Monday, July 9th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the oil and gas development company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
Institutional investors and hedge funds have recently modified their holdings of the stock. Moneta Group Investment Advisors LLC purchased a new position in shares of Anadarko Petroleum in the 2nd quarter worth $170,000. NN Investment Partners Holdings N.V. purchased a new position in shares of Anadarko Petroleum in the 2nd quarter worth $182,000. Kiley Juergens Wealth Management LLC purchased a new position in shares of Anadarko Petroleum in the 2nd quarter worth $182,000. Lido Advisors LLC purchased a new position in shares of Anadarko Petroleum in the 2nd quarter worth $202,000. Finally, Beaton Management Co. Inc. purchased a new position in shares of Anadarko Petroleum in the 2nd quarter worth $202,000. 86.25% of the stock is currently owned by institutional investors and hedge funds.
Anadarko Petroleum Company Profile
Anadarko Petroleum Corporation engages in the exploration, development, production, and marketing of oil and gas properties. It operates through three segments: Exploration and Production, WES Midstream, and Other Midstream. The company explores for and produces oil, natural gas, and natural gas liquids (NGLs).
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