Stifel Nicolaus set a $75.00 price objective on Anadarko Petroleum (NYSE:APC) in a research note released on Wednesday. The firm currently has a buy rating on the oil and gas development company’s stock.
A number of other research analysts also recently weighed in on the stock. Seaport Global Securities upgraded shares of Anadarko Petroleum from a neutral rating to a buy rating in a report on Tuesday, December 19th. Piper Jaffray restated a buy rating and set a $64.00 price target on shares of Anadarko Petroleum in a report on Tuesday, January 9th. Citigroup downgraded shares of Anadarko Petroleum from a buy rating to a neutral rating and set a $60.00 price target on the stock. in a report on Wednesday, January 3rd. Royal Bank of Canada set a $63.00 price target on shares of Anadarko Petroleum and gave the company a buy rating in a report on Wednesday, December 20th. Finally, Credit Suisse Group initiated coverage on shares of Anadarko Petroleum in a report on Monday, December 11th. They set an outperform rating and a $61.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $67.65.
Anadarko Petroleum stock opened at $60.41 on Wednesday. The firm has a market cap of $32,167.54, a PE ratio of -30.82, a price-to-earnings-growth ratio of 3.82 and a beta of 1.40. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 1.13. Anadarko Petroleum has a 1-year low of $39.96 and a 1-year high of $64.15.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.66%. This is a positive change from Anadarko Petroleum’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Tuesday, March 13th. Anadarko Petroleum’s dividend payout ratio (DPR) is currently -51.02%.
Anadarko Petroleum announced that its board has initiated a stock repurchase program on Wednesday, February 7th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas development company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. grew its position in Anadarko Petroleum by 20.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 16,569 shares of the oil and gas development company’s stock worth $889,000 after purchasing an additional 2,789 shares during the last quarter. Xact Kapitalforvaltning AB grew its position in Anadarko Petroleum by 14.3% in the 4th quarter. Xact Kapitalforvaltning AB now owns 53,994 shares of the oil and gas development company’s stock worth $2,896,000 after purchasing an additional 6,756 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Anadarko Petroleum by 12.9% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 216,045 shares of the oil and gas development company’s stock worth $11,589,000 after purchasing an additional 24,706 shares during the last quarter. Delek Group Ltd. acquired a new stake in Anadarko Petroleum in the 4th quarter worth $16,069,000. Finally, HM Payson & Co. grew its position in Anadarko Petroleum by 17.6% in the 4th quarter. HM Payson & Co. now owns 17,843 shares of the oil and gas development company’s stock worth $957,000 after purchasing an additional 2,672 shares during the last quarter. Institutional investors own 88.00% of the company’s stock.
Anadarko Petroleum Company Profile
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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