Anadarko Petroleum Corporation (APC) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of Anadarko Petroleum Corporation (NYSE:APC) from a hold rating to a sell rating in a research note published on Tuesday, July 11th.

According to Zacks, “The drop in the company’s share price was wider than the broader industry's loss in the last six months. The modifications in laws and regulations, and competition from major integrated oil companies pose risks to the stock. Anadarko Petroleum’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. To focus on high-return assets and achieve capital efficiency, Anadarko Petroleum has been systematically selling its non-core properties.”

APC has been the subject of a number of other reports. Jefferies Group LLC restated a buy rating and set a $62.00 price objective on shares of Anadarko Petroleum Corporation in a report on Wednesday, March 22nd. Royal Bank Of Canada upped their price target on shares of Anadarko Petroleum Corporation from $82.00 to $84.00 and gave the stock an outperform rating in a research report on Friday, March 17th. Scotiabank set a $75.00 price target on shares of Anadarko Petroleum Corporation and gave the stock a buy rating in a research report on Monday, March 27th. Stifel Nicolaus reiterated a buy rating and set a $81.00 price objective (up previously from $77.00) on shares of Anadarko Petroleum Corporation in a research note on Friday, May 12th. Finally, Barclays PLC lowered shares of Anadarko Petroleum Corporation from an equal weight rating to an underweight rating and dropped their price target for the company from $52.00 to $42.00 in a research note on Wednesday, June 14th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $69.81.

Shares of Anadarko Petroleum Corporation (APC) traded down 0.37% on Tuesday, reaching $43.54. The company had a trading volume of 3,788,050 shares. The firm has a 50-day moving average price of $44.60 and a 200 day moving average price of $55.50. Anadarko Petroleum Corporation has a 1-year low of $42.58 and a 1-year high of $73.33. The firm’s market capitalization is $24.40 billion.

Anadarko Petroleum Corporation (NYSE:APC) last released its quarterly earnings data on Monday, July 24th. The oil and gas development company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by $0.42. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.50 billion. Anadarko Petroleum Corporation had a negative return on equity of 9.71% and a negative net margin of 19.31%. The company’s quarterly revenue was up 41.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.60) earnings per share. Equities research analysts predict that Anadarko Petroleum Corporation will post ($2.11) earnings per share for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 13th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.20 annualized dividend and a yield of 0.46%. Anadarko Petroleum Corporation’s payout ratio is -5.14%.

In other Anadarko Petroleum Corporation news, Director Anthony R. Chase purchased 1,905 shares of Anadarko Petroleum Corporation stock in a transaction that occurred on Thursday, May 18th. The stock was acquired at an average price of $52.48 per share, with a total value of $99,974.40. Following the transaction, the director now owns 23,636 shares in the company, valued at approximately $1,240,417.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter J. Fluor purchased 20,000 shares of Anadarko Petroleum Corporation stock in a transaction that occurred on Wednesday, May 17th. The stock was acquired at an average cost of $51.83 per share, with a total value of $1,036,600.00. Following the transaction, the director now owns 146,750 shares in the company, valued at approximately $7,606,052.50. The disclosure for this purchase can be found here. Insiders bought a total of 41,205 shares of company stock valued at $2,136,700 in the last quarter. 0.45% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in Anadarko Petroleum Corporation by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,519,256 shares of the oil and gas development company’s stock valued at $114,225,000 after buying an additional 6,995 shares during the last quarter. Virtu KCG Holdings LLC increased its position in Anadarko Petroleum Corporation by 34.5% in the second quarter. Virtu KCG Holdings LLC now owns 109,782 shares of the oil and gas development company’s stock worth $4,978,000 after buying an additional 28,135 shares in the last quarter. Renaissance Technologies LLC increased its position in Anadarko Petroleum Corporation by 39.0% in the second quarter. Renaissance Technologies LLC now owns 2,623,000 shares of the oil and gas development company’s stock worth $118,927,000 after buying an additional 736,200 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in Anadarko Petroleum Corporation by 19.9% in the second quarter. Parametric Portfolio Associates LLC now owns 1,077,764 shares of the oil and gas development company’s stock worth $48,866,000 after buying an additional 179,241 shares during the last quarter. Finally, Cibc World Markets Corp boosted its stake in Anadarko Petroleum Corporation by 270.2% in the second quarter. Cibc World Markets Corp now owns 332,730 shares of the oil and gas development company’s stock worth $15,086,000 after buying an additional 242,846 shares during the last quarter. 84.56% of the stock is owned by institutional investors and hedge funds.

About Anadarko Petroleum Corporation

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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