Zacks Investment Research upgraded shares of Anadarko Petroleum (NYSE:APC) from a hold rating to a buy rating in a report issued on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $69.00 price objective on the oil and gas development company’s stock.
According to Zacks, “Shares of Anadarko Petroleum have gained 33% compared with the industry’s rise of 7.6% since the acquisition by Chevron was announced on Apr 12, 2019. Per the deal, the company’s shareholders will receive 39% premium on their holdings. Anadarko Petroleum’s premium shale properties, which include the Delaware and Denver-Julesburg basins as well as the Deepwater Gulf of Mexico, are key production drivers. Its international assets are also contributing to total production. Focus on high-return assets and the sale of non-core properties boosted Anadarko Petroleum’s efficiency. However, the company has few deep-water assets, which face adverse weather conditions. Moreover, the modifications in laws and regulations, rising expenses as well as competition from major integrated oil companies pose risks to the stock.”
A number of other research firms also recently commented on APC. Mitsubishi UFJ Financial Group decreased their price objective on shares of Anadarko Petroleum to $70.00 in a report on Thursday, February 7th. Citigroup initiated coverage on shares of Anadarko Petroleum in a report on Tuesday, April 9th. They issued a buy rating for the company. Capital One Financial downgraded shares of Anadarko Petroleum from an overweight rating to an equal weight rating in a report on Thursday, December 20th. SunTrust Banks set a $55.00 price target on shares of Anadarko Petroleum and gave the company a hold rating in a report on Tuesday, January 29th. Finally, Guggenheim downgraded shares of Anadarko Petroleum from a buy rating to a hold rating and set a $69.00 price target for the company. in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $72.00.
Anadarko Petroleum stock opened at $64.18 on Tuesday. The firm has a market capitalization of $32.06 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 2.59 and a beta of 1.55. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.81 and a quick ratio of 0.81. Anadarko Petroleum has a 12 month low of $40.40 and a 12 month high of $76.70.
Anadarko Petroleum (NYSE:APC) last released its quarterly earnings data on Tuesday, February 5th. The oil and gas development company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.47 billion. Anadarko Petroleum had a return on equity of 10.14% and a net margin of 4.60%. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 EPS. On average, analysts anticipate that Anadarko Petroleum will post 1.98 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 13th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Tuesday, March 12th. Anadarko Petroleum’s dividend payout ratio (DPR) is 53.10%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Kaizen Advisory LLC raised its stake in shares of Anadarko Petroleum by 24.2% during the fourth quarter. Kaizen Advisory LLC now owns 1,390 shares of the oil and gas development company’s stock valued at $61,000 after purchasing an additional 271 shares in the last quarter. Precocity Capital LP bought a new stake in shares of Anadarko Petroleum during the fourth quarter valued at about $8,768,000. HRT Financial LLC bought a new stake in shares of Anadarko Petroleum during the fourth quarter valued at about $440,000. Perella Weinberg Partners Capital Management LP raised its stake in shares of Anadarko Petroleum by 10.6% during the fourth quarter. Perella Weinberg Partners Capital Management LP now owns 765,721 shares of the oil and gas development company’s stock valued at $33,569,000 after purchasing an additional 73,429 shares in the last quarter. Finally, Calamos Advisors LLC raised its stake in shares of Anadarko Petroleum by 14.7% during the fourth quarter. Calamos Advisors LLC now owns 134,585 shares of the oil and gas development company’s stock valued at $5,900,000 after purchasing an additional 17,275 shares in the last quarter. 87.06% of the stock is owned by institutional investors.
About Anadarko Petroleum
Anadarko Petroleum Corporation engages in the exploration, development, production, and marketing of oil and gas properties. It operates through three segments: Exploration and Production, WES Midstream, and Other Midstream. The company explores for and produces oil, natural gas, and natural gas liquids (NGLs).
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