Anadarko Petroleum (APC) Stock Rating Lowered by Citigroup
Anadarko Petroleum (NYSE:APC) was downgraded by Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday. They presently have a $60.00 target price on the oil and gas development company’s stock. Citigroup’s target price would suggest a potential upside of 7.82% from the company’s previous close.
Other research analysts have also issued reports about the company. Scotiabank set a $62.00 target price on Anadarko Petroleum and gave the stock a “buy” rating in a report on Saturday, November 25th. Cowen reissued a “buy” rating and set a $60.00 target price on shares of Anadarko Petroleum in a report on Sunday, September 17th. Atlantic Securities raised Anadarko Petroleum from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $49.05 to $62.00 in a report on Friday, October 6th. Morgan Stanley set a $55.00 target price on Anadarko Petroleum and gave the stock a “hold” rating in a report on Wednesday, October 18th. Finally, Stifel Nicolaus decreased their target price on Anadarko Petroleum from $73.00 to $72.00 and set a “buy” rating on the stock in a report on Wednesday, November 1st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nineteen have assigned a buy rating to the company. Anadarko Petroleum has an average rating of “Buy” and an average price target of $64.62.
Anadarko Petroleum (APC) traded up $0.88 during trading hours on Wednesday, hitting $55.65. The company’s stock had a trading volume of 4,500,700 shares, compared to its average volume of 4,219,567. The firm has a market cap of $29,870.00, a price-to-earnings ratio of -15.72 and a beta of 1.38. 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.
Anadarko Petroleum (NYSE:APC) last posted its quarterly earnings results on Tuesday, October 31st. The oil and gas development company reported ($0.77) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by ($0.21). The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.52 billion. Anadarko Petroleum had a negative return on equity of 9.82% and a negative net margin of 17.13%. The firm’s revenue for the quarter was up 31.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.89) EPS. equities research analysts forecast that Anadarko Petroleum will post -2.21 EPS for the current year.
Anadarko Petroleum declared that its Board of Directors has approved a share repurchase plan on Wednesday, September 20th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the oil and gas development company to purchase up to 10% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Hedge funds and other institutional investors have recently modified their holdings of the business. Franklin Resources Inc. grew its holdings in Anadarko Petroleum by 106.6% in the 2nd quarter. Franklin Resources Inc. now owns 14,394,958 shares of the oil and gas development company’s stock valued at $652,661,000 after buying an additional 7,428,741 shares in the last quarter. Reinhart Partners Inc. bought a new stake in shares of Anadarko Petroleum during the 3rd quarter valued at $345,000. Virtu KCG Holdings LLC lifted its position in shares of Anadarko Petroleum by 34.5% during the 2nd quarter. Virtu KCG Holdings LLC now owns 109,782 shares of the oil and gas development company’s stock valued at $4,978,000 after acquiring an additional 28,135 shares during the period. Artemis Investment Management LLP lifted its position in shares of Anadarko Petroleum by 15.6% during the 3rd quarter. Artemis Investment Management LLP now owns 42,281 shares of the oil and gas development company’s stock valued at $2,066,000 after acquiring an additional 5,716 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Anadarko Petroleum by 2.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,582,421 shares of the oil and gas development company’s stock valued at $126,152,000 after acquiring an additional 63,165 shares during the period. 87.76% of the stock is currently owned by hedge funds and other institutional investors.
About Anadarko Petroleum
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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