Piper Jaffray Companies reiterated their buy rating on shares of Anadarko Petroleum (NYSE:APC) in a research note published on Tuesday morning. The brokerage currently has a $64.00 price target on the oil and gas development company’s stock.
A number of other research firms have also commented on APC. Scotiabank set a $62.00 price objective on shares of Anadarko Petroleum and gave the company a buy rating in a research note on Saturday, November 25th. Royal Bank of Canada reissued a buy rating and set a $62.00 target price on shares of Anadarko Petroleum in a research note on Friday, September 29th. Barclays increased their target price on shares of Anadarko Petroleum from $39.00 to $42.00 and gave the stock an underweight rating in a research note on Thursday, December 21st. BMO Capital Markets raised shares of Anadarko Petroleum from a market perform rating to an outperform rating and increased their target price for the stock from $53.00 to $57.00 in a research note on Friday, November 17th. Finally, Jefferies Group set a $61.00 target price on shares of Anadarko Petroleum and gave the stock a buy rating in a research note on Wednesday, December 20th. Three analysts have rated the stock with a sell rating, five have given a hold rating and nineteen have issued a buy rating to the company. Anadarko Petroleum currently has an average rating of Buy and a consensus target price of $65.00.
Anadarko Petroleum (NYSE APC) traded up $0.48 during trading hours on Tuesday, hitting $58.98. 4,910,000 shares of the stock were exchanged, compared to its average volume of 5,470,000. The company has a debt-to-equity ratio of 1.11, a quick ratio of 2.03 and a current ratio of 2.03. Anadarko Petroleum has a 12 month low of $39.96 and a 12 month high of $72.32. The company has a market cap of $32,270.00, a price-to-earnings ratio of -16.66 and a beta of 1.38.
Anadarko Petroleum declared that its board has authorized a share repurchase plan on Wednesday, September 20th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the oil and gas development company to repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 27th. Shareholders of record on Wednesday, December 13th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Tuesday, December 12th. Anadarko Petroleum’s dividend payout ratio (DPR) is -5.65%.
Several institutional investors have recently added to or reduced their stakes in APC. Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Anadarko Petroleum by 54.1% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 47,770 shares of the oil and gas development company’s stock valued at $2,166,000 after buying an additional 16,761 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its stake in shares of Anadarko Petroleum by 3.7% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 5,656 shares of the oil and gas development company’s stock valued at $256,000 after buying an additional 200 shares in the last quarter. Aberdeen Asset Management PLC UK lifted its stake in shares of Anadarko Petroleum by 10.8% in the second quarter. Aberdeen Asset Management PLC UK now owns 144,080 shares of the oil and gas development company’s stock valued at $6,533,000 after buying an additional 14,093 shares in the last quarter. AJO LP bought a new position in shares of Anadarko Petroleum in the second quarter valued at $30,006,000. Finally, Riverhead Capital Management LLC lifted its stake in shares of Anadarko Petroleum by 19.5% in the second quarter. Riverhead Capital Management LLC now owns 12,899 shares of the oil and gas development company’s stock valued at $585,000 after buying an additional 2,104 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other 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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