Mizuho Upgrades Anadarko Petroleum (NASDAQ:APC) to Outperform

Anadarko Petroleum (NASDAQ:APC) was upgraded by equities researchers at Mizuho from a “neutral” rating to an “outperform” rating in a research note issued on Friday, Benzinga reports. The brokerage currently has a $22.00 price target on the oil and gas development company’s stock. Mizuho’s target price would suggest a potential upside of 46.37% from the stock’s previous close.

APC has been the topic of several other reports. UBS Group cut their price target on shares of Anadarko Petroleum from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Weiss Ratings upgraded shares of Anadarko Petroleum from a “sell (e)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. Finally, Zacks Research cut shares of Anadarko Petroleum from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.80.

Anadarko Petroleum Stock Up 1.1%

Anadarko Petroleum stock opened at $15.03 on Friday. Anadarko Petroleum has a 1-year low of $14.50 and a 1-year high of $21.72. The firm has a market capitalization of $188.93 million and a price-to-earnings ratio of 21.78. The firm’s fifty day moving average price is $18.61 and its two-hundred day moving average price is $18.96. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09.

Anadarko Petroleum (NASDAQ:APC) last released its quarterly earnings data on Thursday, August 6th. The oil and gas development company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.10). The business had revenue of $1.84 billion for the quarter. The firm’s quarterly revenue was up 27.4% compared to the same quarter last year. On average, equities research analysts predict that Anadarko Petroleum will post 0.95 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Holdings I. L.P. Blackstone sold 124,600 shares of the business’s stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $16.40, for a total value of $2,043,440.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of Anadarko Petroleum

A number of hedge funds and other institutional investors have recently bought and sold shares of APC. State Street Corp bought a new stake in Anadarko Petroleum during the 2nd quarter worth approximately $2,536,000. Citadel Advisors LLC bought a new stake in Anadarko Petroleum during the 2nd quarter worth approximately $4,579,000. Greenland Capital Management LP bought a new stake in Anadarko Petroleum during the 2nd quarter worth approximately $264,000. Finally, Readystate Asset Management LP bought a new stake in Anadarko Petroleum during the 2nd quarter worth approximately $1,696,000.

Anadarko Petroleum Company Profile

Anadarko Petroleum Corporation was an independent oil and natural gas exploration and production company headquartered in The Woodlands, Texas. The company focused on finding, developing and producing crude oil, natural gas and natural gas liquids, with operations spanning onshore and offshore assets.

Anadarko’s U.S. activities included significant positions in the Delaware and DJ basins, the Gulf of Mexico and other domestic producing regions. Internationally, the company participated in exploration and development projects in countries including Algeria, Ghana, Mozambique and Peru.