Anadarko Petroleum (APC) Lifted to Buy at Seaport Global Securities

Seaport Global Securities upgraded shares of Anadarko Petroleum (NYSE:APC) from a neutral rating to a buy rating in a research note issued to investors on Tuesday, MarketBeat.com reports. Seaport Global Securities also issued estimates for Anadarko Petroleum’s Q4 2017 earnings at $0.02 EPS, FY2017 earnings at ($2.13) EPS, Q1 2018 earnings at $0.06 EPS, Q2 2018 earnings at $0.12 EPS, Q3 2018 earnings at $0.06 EPS, Q4 2018 earnings at ($0.01) EPS and FY2018 earnings at $0.22 EPS.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus reaffirmed a buy rating and issued a $77.00 price target (up previously from $76.00) on shares of Anadarko Petroleum in a report on Monday, September 25th. Scotiabank reaffirmed a buy rating and issued a $62.00 price target on shares of Anadarko Petroleum in a report on Wednesday, November 1st. Credit Suisse Group assumed coverage on Anadarko Petroleum in a report on Monday, December 11th. They issued an outperform rating and a $61.00 price target on the stock. BMO Capital Markets set a $50.00 price target on Anadarko Petroleum and gave the company a hold rating in a report on Tuesday, October 10th. Finally, Barclays upped their price target on Anadarko Petroleum from $35.00 to $37.00 and gave the company an underweight rating in a report on Wednesday, October 11th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $64.52.

Shares of Anadarko Petroleum (NYSE:APC) opened at $52.93 on Tuesday. Anadarko Petroleum has a twelve month low of $39.96 and a twelve month high of $72.32. The company has a market capitalization of $28,960.00, a P/E ratio of -14.95 and a beta of 1.38. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 1.11.

Anadarko Petroleum (NYSE:APC) last announced its earnings results on Tuesday, October 31st. The oil and gas development company reported ($0.77) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by ($0.21). The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.52 billion. Anadarko Petroleum had a negative return on equity of 9.82% and a negative net margin of 17.13%. Anadarko Petroleum’s revenue for the quarter was up 31.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.89) EPS. analysts expect that Anadarko Petroleum will post -2.26 EPS for the current year.

Anadarko Petroleum announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, September 20th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the oil and gas development company to repurchase up to 10% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Wednesday, December 13th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Tuesday, December 12th. Anadarko Petroleum’s dividend payout ratio (DPR) is currently -5.65%.

A number of large investors have recently made changes to their positions in APC. Dodge & Cox raised its stake in Anadarko Petroleum by 43.7% during the 2nd quarter. Dodge & Cox now owns 32,794,208 shares of the oil and gas development company’s stock valued at $1,486,889,000 after purchasing an additional 9,965,600 shares during the period. Franklin Resources Inc. grew its holdings in shares of Anadarko Petroleum by 106.6% during the 2nd quarter. Franklin Resources Inc. now owns 14,394,958 shares of the oil and gas development company’s stock valued at $652,661,000 after acquiring an additional 7,428,741 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Anadarko Petroleum by 5,465.5% during the 2nd quarter. Janus Henderson Group PLC now owns 4,182,014 shares of the oil and gas development company’s stock valued at $189,613,000 after acquiring an additional 4,106,872 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Anadarko Petroleum by 8.2% during the 2nd quarter. BlackRock Inc. now owns 45,766,435 shares of the oil and gas development company’s stock valued at $2,075,051,000 after acquiring an additional 3,466,161 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of Anadarko Petroleum by 311.0% during the 3rd quarter. Boston Partners now owns 3,651,098 shares of the oil and gas development company’s stock valued at $178,356,000 after acquiring an additional 2,762,834 shares in the last quarter. 87.76% of the stock is currently owned by institutional investors.

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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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