Anadarko Petroleum Corporation (NYSE:APC) declared a quarterly dividend on Wednesday, November 15th, RTT News reports. Shareholders of record on Wednesday, December 13th will be given a dividend of 0.05 per share by the oil and gas development company on Wednesday, December 27th. This represents a $0.20 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Tuesday, December 12th.
Anadarko Petroleum has decreased its dividend by an average of 28.2% annually over the last three years. Anadarko Petroleum has a payout ratio of -8.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Anadarko Petroleum to earn ($0.92) per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of -21.7%.
Anadarko Petroleum (NYSE APC) opened at $47.11 on Thursday. Anadarko Petroleum has a fifty-two week low of $39.96 and a fifty-two week high of $73.33. The company has a debt-to-equity ratio of 1.11, a quick ratio of 2.03 and a current ratio of 2.03.
Several research firms have commented on APC. Scotiabank set a $62.00 price objective on shares of Anadarko Petroleum and gave the company a “buy” rating in a report on Saturday, November 25th. Barclays upped their price target on shares of Anadarko Petroleum from $37.00 to $39.00 and gave the company an “underweight” rating in a research note on Monday, November 20th. BMO Capital Markets upgraded shares of Anadarko Petroleum from a “market perform” rating to an “outperform” rating and upped their price target for the company from $53.00 to $57.00 in a research note on Friday, November 17th. Stifel Nicolaus decreased their price target on shares of Anadarko Petroleum from $73.00 to $72.00 and set a “buy” rating on the stock in a research note on Wednesday, November 1st. Finally, Morgan Stanley set a $55.00 price target on shares of Anadarko Petroleum and gave the company a “hold” rating in a research note on Wednesday, October 18th. Three analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Anadarko Petroleum presently has an average rating of “Buy” and a consensus price target of $67.18.
Anadarko Petroleum declared that its board has approved a stock buyback plan on Wednesday, September 20th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the oil and gas development company to purchase up to 10% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
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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