Anadarko Petroleum Corporation (APC) Price Target Cut to $58.00

Anadarko Petroleum Corporation (NYSE:APC) had its price objective lowered by equities research analysts at Citigroup Inc. from $60.00 to $58.00 in a report released on Friday. The brokerage currently has a “buy” rating on the oil and gas development company’s stock. Citigroup Inc.’s price objective would indicate a potential upside of 21.52% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Royal Bank Of Canada set a $78.00 target price on Anadarko Petroleum Corporation and gave the company a “buy” rating in a research note on Saturday, June 17th. Mitsubishi UFJ Financial Group raised Anadarko Petroleum Corporation from a “neutral” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Thursday, July 27th. BidaskClub lowered Anadarko Petroleum Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Susquehanna Bancshares Inc began coverage on Anadarko Petroleum Corporation in a research note on Thursday, June 29th. They issued a “positive” rating and a $60.00 target price on the stock. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $78.00 target price (down previously from $80.00) on shares of Anadarko Petroleum Corporation in a research note on Tuesday, July 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $68.67.

Anadarko Petroleum Corporation (NYSE:APC) traded up 0.29% during trading on Friday, hitting $47.87. The stock had a trading volume of 1,074,176 shares. Anadarko Petroleum Corporation has a 12-month low of $39.96 and a 12-month high of $73.33. The firm’s market cap is $26.82 billion. The stock’s 50 day moving average price is $45.29 and its 200 day moving average price is $49.05.

Anadarko Petroleum Corporation (NYSE:APC) last posted its earnings results on Monday, July 24th. The oil and gas development company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.42). Anadarko Petroleum Corporation had a negative net margin of 19.31% and a negative return on equity of 9.71%. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the company posted ($0.60) EPS. Anadarko Petroleum Corporation’s quarterly revenue was up 41.8% compared to the same quarter last year. On average, analysts anticipate that Anadarko Petroleum Corporation will post ($2.11) EPS for the current fiscal year.

Anadarko Petroleum Corporation declared that its Board of Directors has approved a stock repurchase program on Wednesday, September 20th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the oil and gas development company to reacquire up to 10% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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Several hedge funds have recently modified their holdings of the company. Intl Fcstone Inc. bought a new position in shares of Anadarko Petroleum Corporation during the second quarter worth about $870,000. Sentry Investment Management LLC lifted its position in shares of Anadarko Petroleum Corporation by 183.2% during the second quarter. Sentry Investment Management LLC now owns 104,538 shares of the oil and gas development company’s stock worth $4,740,000 after purchasing an additional 67,623 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Anadarko Petroleum Corporation by 25.3% during the second quarter. Toronto Dominion Bank now owns 191,568 shares of the oil and gas development company’s stock worth $8,684,000 after purchasing an additional 38,724 shares during the last quarter. Advisory Services Network LLC lifted its position in shares of Anadarko Petroleum Corporation by 24.0% during the second quarter. Advisory Services Network LLC now owns 4,812 shares of the oil and gas development company’s stock worth $218,000 after purchasing an additional 932 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its position in shares of Anadarko Petroleum Corporation by 96.9% during the second quarter. Dynamic Technology Lab Private Ltd now owns 24,123 shares of the oil and gas development company’s stock worth $1,094,000 after purchasing an additional 11,872 shares during the last quarter. 85.05% of the stock is currently owned by institutional investors and hedge funds.

About Anadarko Petroleum Corporation

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 Corporation (NYSE:APC)

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