Anadarko Petroleum (NYSE:APC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “In the last six months, Anadarko Petroleum's gain was higher than the industry it belongs to. Anadarko Petroleum’s earnings and revenues were higher than expectations in the fourth quarter primarily due to higher oil sales revenues. The company’s premium shale properties, which include the Delaware and Denver-Julesburg basins, and the Deepwater Gulf of Mexico, are expected to be the primary production drivers. Its international assets are also contributing toward the increase in its total production. To focus on high-return assets and achieve capital efficiency, Anadarko Petroleum has been systematically selling its non-core properties. The modifications in laws and regulations, rising expenses and competition from major integrated oil companies pose risks to the stock.”
A number of other equities research analysts have also weighed in on the stock. Piper Jaffray Companies set a $72.00 price objective on shares of Anadarko Petroleum and gave the company a “buy” rating in a report on Sunday, February 11th. TheStreet upgraded shares of Anadarko Petroleum from a “d+” rating to a “c” rating in a report on Tuesday, February 6th. BMO Capital Markets raised their price objective on shares of Anadarko Petroleum from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Macquarie upgraded shares of Anadarko Petroleum from a “neutral” rating to an “outperform” rating and set a $70.00 price objective on the stock in a report on Thursday, February 8th. Finally, Jefferies Group restated a “buy” rating and issued a $78.00 price objective on shares of Anadarko Petroleum in a report on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nineteen have issued a buy rating to the stock. Anadarko Petroleum currently has a consensus rating of “Buy” and a consensus price target of $68.19.
Anadarko Petroleum (NYSE:APC) last released its earnings results on Tuesday, February 6th. The oil and gas development company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ 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 7.48%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the business earned ($0.50) EPS. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. equities analysts predict that Anadarko Petroleum will post 1.35 earnings per share for the current year.
Anadarko Petroleum announced that its Board of Directors has approved a stock buyback program on Wednesday, February 7th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the oil and gas development company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Large investors have recently made changes to their positions in the stock. Stelac Advisory Services LLC purchased a new position in Anadarko Petroleum during the 3rd quarter worth $107,000. Fis Group Inc. purchased a new position in Anadarko Petroleum during the 3rd quarter worth $107,000. Steward Partners Investment Advisory LLC purchased a new position in Anadarko Petroleum during the 3rd quarter worth $116,000. Cerebellum GP LLC purchased a new position in Anadarko Petroleum during the 4th quarter worth $131,000. Finally, Resources Investment Advisors Inc. purchased a new position in Anadarko Petroleum during the 4th quarter worth $142,000. Hedge funds and other institutional investors own 87.82% of the company’s stock.
Anadarko Petroleum Company Profile
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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