Anadarko Petroleum (NYSE:APC) had its price objective hoisted by Barclays from $39.00 to $42.00 in a research note published on Thursday morning, MarketBeat Ratings reports. The brokerage currently has an underweight rating on the oil and gas development company’s stock.
A number of other equities analysts have also recently weighed in on the stock. Stifel Nicolaus restated a buy rating and set a $77.00 price objective (up from $76.00) on shares of Anadarko Petroleum in a research report on Monday, September 25th. Scotiabank restated a buy rating and set a $62.00 price objective on shares of Anadarko Petroleum in a research report on Wednesday, November 1st. Credit Suisse Group began coverage on shares of Anadarko Petroleum in a research report on Monday, December 11th. They set an outperform rating and a $61.00 price objective for the company. BMO Capital Markets set a $50.00 price objective on shares of Anadarko Petroleum and gave the stock a hold rating in a research report on Tuesday, October 10th. Finally, Cowen set a $60.00 price objective on shares of Anadarko Petroleum and gave the stock a buy rating in a research report on Monday, October 16th. Three investment 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 presently has an average rating of Buy and an average target price of $64.52.
Shares of Anadarko Petroleum (APC) opened at $52.93 on Thursday. Anadarko Petroleum has a twelve month low of $39.96 and a twelve month high of $72.32. The stock has a market cap of $28,430.31, a price-to-earnings ratio of -14.91 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 announced that its board has initiated a stock buyback program on Wednesday, September 20th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the oil and gas development company to purchase up to 10% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 27th. Investors of record on Wednesday, December 13th will be given 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 payout ratio is currently -5.63%.
Institutional investors have recently added to or reduced their stakes in the stock. Fis Group Inc. purchased a new position in shares of Anadarko Petroleum in the third quarter valued at approximately $107,000. Stelac Advisory Services LLC purchased a new position in shares of Anadarko Petroleum in the third quarter valued at approximately $107,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Anadarko Petroleum in the third quarter valued at approximately $116,000. FNY Partners Fund LP boosted its stake in shares of Anadarko Petroleum by 2,900.0% in the second quarter. FNY Partners Fund LP now owns 3,000 shares of the oil and gas development company’s stock valued at $136,000 after purchasing an additional 2,900 shares during the period. Finally, Sun Life Financial INC boosted its stake in shares of Anadarko Petroleum by 1,363.4% in the second quarter. Sun Life Financial INC now owns 3,000 shares of the oil and gas development company’s stock valued at $136,000 after purchasing an additional 2,795 shares during the period. Hedge funds and other institutional investors own 87.76% of the company’s stock.
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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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