Zacks Investment Research Downgrades Anadarko Petroleum (APC) to Hold

Anadarko Petroleum (NYSE:APC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “In the last six months, Anadarko Petroleum's gain was higher than the industry it belongs to. The company’s premium shale properties, which include the Delaware and Denver-Julesburg basins, and the Deepwater Gulf of Mexico, are expected to be the primary production drivers. Its international assets are also contributing toward the increase in its total production. To focus on high-return assets and achieve capital efficiency, Anadarko Petroleum has been systematically selling its non-core properties. The modifications in laws and regulations, rising expenses and competition from major integrated oil companies pose risks to the stock.”

A number of other equities analysts also recently commented on APC. TheStreet raised Anadarko Petroleum from a “d+” rating to a “c” rating in a research report on Tuesday, February 6th. BMO Capital Markets boosted their price objective on Anadarko Petroleum from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Morgan Stanley boosted their price objective on Anadarko Petroleum from $55.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Stifel Nicolaus set a $73.00 price objective on Anadarko Petroleum and gave the stock a “buy” rating in a research report on Monday, January 29th. Finally, Macquarie raised Anadarko Petroleum from a “neutral” rating to an “outperform” rating and set a $70.00 price objective for the company in a research report on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and nineteen have issued a buy rating to the stock. Anadarko Petroleum has an average rating of “Buy” and a consensus target price of $68.24.

Anadarko Petroleum (NYSE:APC) opened at $60.82 on Thursday. The firm has a market capitalization of $33,280.00, a PE ratio of -20.48, a price-to-earnings-growth ratio of 3.98 and a beta of 1.42. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.73 and a quick ratio of 1.73. Anadarko Petroleum has a 52-week low of $39.96 and a 52-week high of $66.66.

Anadarko Petroleum (NYSE:APC) last released its earnings results on Tuesday, February 6th. The oil and gas development company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.15. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.90 billion. Anadarko Petroleum had a negative return on equity of 7.48% and a negative net margin of 3.83%. Anadarko Petroleum’s revenue was up 22.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.50) EPS. equities research analysts anticipate that Anadarko Petroleum will post 1.44 earnings per share for the current year.

Anadarko Petroleum announced that its board has authorized a stock repurchase program on Wednesday, February 7th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the oil and gas development company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Hedge funds have recently bought and sold shares of the stock. Stelac Advisory Services LLC purchased a new stake in Anadarko Petroleum during the third quarter worth approximately $107,000. Fis Group Inc. purchased a new stake in Anadarko Petroleum in the third quarter valued at approximately $107,000. Steward Partners Investment Advisory LLC purchased a new stake in Anadarko Petroleum in the third quarter valued at approximately $116,000. Cerebellum GP LLC purchased a new stake in Anadarko Petroleum in the fourth quarter valued at approximately $131,000. Finally, Resources Investment Advisors Inc. purchased a new stake in Anadarko Petroleum in the fourth quarter valued at approximately $142,000. Hedge funds and other institutional investors own 83.82% of the company’s stock.

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About Anadarko Petroleum

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.

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