Barclays PLC Increases Anadarko Petroleum Co. (APC) Price Target to $39.00
Anadarko Petroleum Co. (NYSE:APC) had its price target upped by research analysts at Barclays PLC from $37.00 to $39.00 in a research note issued to investors on Monday. The firm currently has an “underweight” rating on the oil and gas development company’s stock. Barclays PLC’s price target suggests a potential downside of 18.78% from the company’s current price.
A number of other analysts also recently weighed in on APC. BidaskClub downgraded shares of Anadarko Petroleum from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. BMO Capital Markets raised shares of Anadarko Petroleum from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $53.00 to $57.00 in a report on Friday, November 17th. Stifel Nicolaus reaffirmed a “buy” rating and set a $77.00 price objective (up from $76.00) on shares of Anadarko Petroleum in a report on Monday, September 25th. Scotiabank set a $64.00 price objective on shares of Anadarko Petroleum and gave the stock a “buy” rating in a report on Friday, November 17th. Finally, Mitsubishi UFJ Financial Group raised shares of Anadarko Petroleum from a “neutral” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $67.27.
Shares of Anadarko Petroleum (NYSE APC) opened at $48.02 on Monday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 1.11. Anadarko Petroleum has a 1-year low of $39.96 and a 1-year high of $73.33.
Anadarko Petroleum (NYSE:APC) last issued its quarterly earnings results on Tuesday, October 31st. The oil and gas development company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.21). Anadarko Petroleum had a negative net margin of 24.56% and a negative return on equity of 25.27%. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period last year, the company earned ($0.89) earnings per share. Anadarko Petroleum’s revenue for the quarter was up 31.9% on a year-over-year basis. sell-side analysts forecast that Anadarko Petroleum will post -2.23 EPS for the current fiscal year.
Anadarko Petroleum announced that its Board of Directors has approved a stock repurchase program on Wednesday, September 20th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the oil and gas development company to buy up to 10% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Large investors have recently modified their holdings of the company. Fis Group Inc. acquired a new stake in shares of Anadarko Petroleum during the 3rd quarter worth approximately $107,000. Stelac Advisory Services LLC acquired a new stake in shares of Anadarko Petroleum during the 3rd quarter worth approximately $107,000. FNY Partners Fund LP grew its position in shares of Anadarko Petroleum by 2,900.0% during the 2nd quarter. FNY Partners Fund LP now owns 3,000 shares of the oil and gas development company’s stock worth $136,000 after buying an additional 2,900 shares during the period. Sun Life Financial INC grew its position in shares of Anadarko Petroleum by 1,363.4% during the 2nd quarter. Sun Life Financial INC now owns 3,000 shares of the oil and gas development company’s stock worth $136,000 after buying an additional 2,795 shares during the period. Finally, YorkBridge Wealth Partners LLC grew its position in shares of Anadarko Petroleum by 12.5% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 3,606 shares of the oil and gas development company’s stock worth $166,000 after buying an additional 402 shares during the period. Institutional investors own 88.68% of the company’s stock.
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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