Anadarko Petroleum (NYSE:APC) declared that its Board of Directors has approved a stock buyback plan, which allows the company to repurchase $500.00 million in shares on Wednesday, February 7th, EventVestor reports. This repurchase authorization allows the oil and gas development company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Shares of Anadarko Petroleum (APC) traded down $0.91 during trading hours on Thursday, reaching $57.81. 1,806,238 shares of the company traded hands, compared to its average volume of 5,745,351. Anadarko Petroleum has a 12-month low of $39.96 and a 12-month high of $70.00. 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 firm has a market cap of $32,150.00, a price-to-earnings ratio of -73.28, a P/E/G ratio of 894.29 and a beta of 1.42.

Anadarko Petroleum (NYSE:APC) last announced its quarterly earnings results on Tuesday, February 6th. The oil and gas development company reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.15. Anadarko Petroleum had a negative net margin of 3.83% and a negative return on equity of 7.38%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period last year, the business earned ($0.50) EPS. Anadarko Petroleum’s revenue for the quarter was up 22.7% compared to the same quarter last year. research analysts anticipate that Anadarko Petroleum will post 0.01 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 14th will be paid a dividend of $0.25 per share. This is a positive change from Anadarko Petroleum’s previous quarterly dividend of $0.05. This represents a $1.00 annualized dividend and a yield of 1.73%. Anadarko Petroleum’s dividend payout ratio (DPR) is currently -25.32%.

APC has been the subject of several recent research reports. Barclays raised their price target on shares of Anadarko Petroleum from $35.00 to $37.00 and gave the company an “underweight” rating in a research report on Wednesday, October 11th. Citigroup decreased their price target on shares of Anadarko Petroleum from $60.00 to $58.00 and set a “buy” rating for the company in a research report on Friday, October 13th. Wolfe Research lowered shares of Anadarko Petroleum from an “outperform” rating to a “market perform” rating in a report on Monday, October 16th. Cowen set a $60.00 price objective on shares of Anadarko Petroleum and gave the company a “buy” rating in a report on Monday, October 16th. Finally, Morgan Stanley set a $55.00 price objective on shares of Anadarko Petroleum and gave the company a “hold” rating in a report on Wednesday, October 18th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have given a buy rating to the stock. Anadarko Petroleum currently has a consensus rating of “Buy” and an average target price of $67.95.

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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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