Anadarko Petroleum Corporation (APC) PT Raised to $37.00

Anadarko Petroleum Corporation (NYSE:APC) had its target price hoisted by stock analysts at Barclays PLC from $35.00 to $37.00 in a research note issued to investors on Wednesday. The firm presently has an “underweight” rating on the oil and gas development company’s stock. Barclays PLC’s price objective indicates a potential downside of 23.57% from the company’s previous close.

A number of other brokerages have also recently issued reports on APC. BidaskClub upgraded Anadarko Petroleum Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Stifel Nicolaus set a $73.00 price objective on Anadarko Petroleum Corporation and gave the stock a “buy” rating in a report on Thursday, October 5th. Atlantic Securities upgraded Anadarko Petroleum Corporation from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $49.05 to $62.00 in a report on Friday, October 6th. Jefferies Group LLC restated a “buy” rating and set a $57.00 price objective on shares of Anadarko Petroleum Corporation in a report on Tuesday. Finally, Royal Bank Of Canada restated a “buy” rating and set a $62.00 price objective on shares of Anadarko Petroleum Corporation in a report on Friday, September 29th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $68.75.

Anadarko Petroleum Corporation (NYSE APC) traded down 0.10% during trading on Wednesday, reaching $48.36. The company’s stock had a trading volume of 1,351,926 shares. The firm’s 50-day moving average is $44.98 and its 200-day moving average is $49.06. The stock’s market cap is $27.10 billion. Anadarko Petroleum Corporation has a 52-week low of $39.96 and a 52-week high of $73.33.

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

Anadarko Petroleum Corporation declared that its Board of Directors has initiated a stock repurchase program on Wednesday, September 20th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the oil and gas development company to purchase up to 10% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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Several large investors have recently made changes to their positions in APC. Guardian Life Insurance Co. of America increased its holdings in shares of Anadarko Petroleum Corporation by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 2,156 shares of the oil and gas development company’s stock worth $134,000 after buying an additional 15 shares in the last quarter. FNY Partners Fund LP increased its holdings in shares of Anadarko Petroleum Corporation by 2,900.0% during the second quarter. FNY Partners Fund LP now owns 3,000 shares of the oil and gas development company’s stock worth $136,000 after buying an additional 2,900 shares in the last quarter. Sun Life Financial INC increased its holdings in shares of Anadarko Petroleum Corporation by 1,363.4% during the second quarter. Sun Life Financial INC now owns 3,000 shares of the oil and gas development company’s stock worth $136,000 after buying an additional 2,795 shares in the last quarter. YorkBridge Wealth Partners LLC increased its holdings in shares of Anadarko Petroleum Corporation by 12.5% during the second quarter. YorkBridge Wealth Partners LLC now owns 3,606 shares of the oil and gas development company’s stock worth $166,000 after buying an additional 402 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of Anadarko Petroleum Corporation by 33.9% during the first quarter. Fifth Third Bancorp now owns 2,687 shares of the oil and gas development company’s stock worth $167,000 after buying an additional 680 shares in the last quarter. Institutional investors own 85.05% of the company’s stock.

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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