Anadarko Petroleum Co. (NYSE:APC) declared a quarterly dividend on Wednesday, May 15th, RTT News reports. Shareholders of record on Wednesday, June 12th will be given a dividend of 0.30 per share by the oil and gas development company on Wednesday, June 26th. This represents a $1.20 annualized dividend and a yield of 1.65%.
Anadarko Petroleum has decreased its dividend by an average of 0.9% annually over the last three years. Anadarko Petroleum has a payout ratio of 40.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Anadarko Petroleum to earn $3.90 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 30.8%.
APC stock traded down $0.09 during mid-day trading on Wednesday, hitting $72.87. The stock had a trading volume of 9,110,986 shares, compared to its average volume of 9,415,301. Anadarko Petroleum has a 52 week low of $40.40 and a 52 week high of $76.70. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.51. The firm has a market cap of $36.54 billion, a P/E ratio of 32.24, a P/E/G ratio of 4.20 and a beta of 1.83.
Several brokerages have issued reports on APC. Zacks Investment Research raised Anadarko Petroleum from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Tuesday, April 16th. Cowen restated a “buy” rating and issued a $71.00 price target on shares of Anadarko Petroleum in a research report on Wednesday, April 17th. Stifel Nicolaus cut Anadarko Petroleum from a “buy” rating to a “hold” rating and boosted their price target for the company from $68.00 to $76.00 in a research report on Tuesday, May 7th. Johnson Rice cut Anadarko Petroleum from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. Finally, Susquehanna Bancshares restated a “neutral” rating and issued a $65.00 price target (up previously from $62.00) on shares of Anadarko Petroleum in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, twenty-one have given a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $70.19.
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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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