Anadarko Petroleum Corporation (APC) PT Raised to $37.00

Anadarko Petroleum Corporation (NYSE:APC) had its price target lifted by analysts at Barclays PLC from $35.00 to $37.00 in a research note issued on Wednesday. The brokerage presently has an “underweight” rating on the oil and gas development company’s stock. Barclays PLC’s price objective indicates a potential downside of 22.48% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. BidaskClub upgraded Anadarko Petroleum Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Royal Bank Of Canada set a $78.00 target price on Anadarko Petroleum Corporation and gave the stock a “buy” rating in a report on Saturday, June 17th. Citigroup Inc. began coverage on Anadarko Petroleum Corporation in a report on Thursday, June 29th. They issued a “positive” rating and a $60.00 target price for the company. They noted that the move was a valuation call. Susquehanna Bancshares Inc began coverage on Anadarko Petroleum Corporation in a report on Thursday, June 29th. They issued a “positive” rating and a $60.00 target price for the company. Finally, Scotiabank restated a “buy” rating and issued a $66.00 target price on shares of Anadarko Petroleum Corporation in a report on Friday, June 30th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $68.75.

Anadarko Petroleum Corporation (NYSE:APC) last announced its quarterly earnings results on Monday, July 24th. The oil and gas development company reported ($0.77) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.42). The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.50 billion. Anadarko Petroleum Corporation had a negative net margin of 19.31% and a negative return on equity of 9.71%. The company’s quarterly revenue was up 41.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.60) EPS.

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

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Guardian Life Insurance Co. of America grew its holdings in shares of Anadarko Petroleum Corporation by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 2,156 shares of the oil and gas development company’s stock worth $134,000 after buying an additional 15 shares in the last quarter. FNY Partners Fund LP grew its holdings in shares of Anadarko Petroleum Corporation by 2,900.0% during the second 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 in the last quarter. Sun Life Financial INC grew its holdings in shares of Anadarko Petroleum Corporation by 1,363.4% during the second 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 in the last quarter. YorkBridge Wealth Partners LLC grew its holdings in shares of Anadarko Petroleum Corporation by 12.5% during the second quarter. YorkBridge Wealth Partners LLC now owns 3,606 shares of the oil and gas development company’s stock worth $166,000 after buying an additional 402 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Anadarko Petroleum Corporation by 33.9% during the first quarter. Fifth Third Bancorp now owns 2,687 shares of the oil and gas development company’s stock worth $167,000 after buying an additional 680 shares in the last quarter. 85.05% of the stock is currently owned by institutional investors.

Anadarko Petroleum Corporation 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 Corporation (NYSE:APC)

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