Anadarko Petroleum (APC) Upgraded to “Buy” by Seaport Global Securities

Seaport Global Securities upgraded shares of Anadarko Petroleum (NYSE:APC) from a neutral rating to a buy rating in a research report released on Tuesday morning.

Several other analysts also recently commented on APC. Royal Bank of Canada set a $62.00 target price on Anadarko Petroleum and gave the company a buy rating in a research note on Thursday, August 24th. Jefferies Group set a $62.00 target price on Anadarko Petroleum and gave the company a buy rating in a research note on Monday, August 28th. Stifel Nicolaus restated a buy rating on shares of Anadarko Petroleum in a research note on Sunday, September 3rd. BMO Capital Markets restated a hold rating and issued a $53.00 target price on shares of Anadarko Petroleum in a research note on Monday, September 4th. Finally, Cowen restated a buy rating and issued a $60.00 target price on shares of Anadarko Petroleum in a research note on Sunday, September 17th. Three investment 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’s stock. The stock presently has an average rating of Buy and a consensus price target of $64.55.

Shares of Anadarko Petroleum (APC) opened at $49.39 on Tuesday. 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 has a 12 month low of $39.96 and a 12 month high of $72.32.

Anadarko Petroleum (NYSE:APC) last issued 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 during the quarter, compared to analyst estimates of $2.52 billion. Anadarko Petroleum had a negative net margin of 17.13% and a negative return on equity of 9.82%. The business’s quarterly revenue was up 31.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.89) earnings per share. research analysts predict that Anadarko Petroleum will post -2.25 EPS for the current fiscal year.

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.40%. Anadarko Petroleum’s dividend payout ratio (DPR) is currently -5.63%.

Anadarko Petroleum declared that its board has initiated a share repurchase plan 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 buy up to 10% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

A number of hedge funds have recently added to or reduced their stakes in APC. Fis Group Inc. purchased a new position in shares of Anadarko Petroleum in the 3rd quarter worth approximately $107,000. Stelac Advisory Services LLC purchased a new position in shares of Anadarko Petroleum in the 3rd quarter worth approximately $107,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Anadarko Petroleum in the 3rd quarter worth approximately $116,000. Sun Life Financial INC boosted its stake in shares of Anadarko Petroleum by 1,363.4% in the 2nd 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 during the last quarter. Finally, FNY Partners Fund LP boosted its stake in shares of Anadarko Petroleum by 2,900.0% in the 2nd 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 during the last quarter. Institutional investors and hedge funds own 87.76% of the company’s stock.

WARNING: “Anadarko Petroleum (APC) Upgraded to “Buy” by Seaport Global Securities” was originally reported by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece of content on another domain, it was copied illegally and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be accessed at https://sportsperspectives.com/2017/12/20/anadarko-petroleum-apc-upgraded-to-buy-by-seaport-global-securities.html.

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.

Analyst Recommendations for Anadarko Petroleum (NYSE:APC)

Receive News & Ratings for Anadarko Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Anadarko Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply