Brokerages Anticipate Anadarko Petroleum Co. (APC) Will Announce Quarterly Sales of $2.91 Billion

Wall Street brokerages expect Anadarko Petroleum Co. (NYSE:APC) to post $2.91 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Anadarko Petroleum’s earnings, with the lowest sales estimate coming in at $2.54 billion and the highest estimate coming in at $3.21 billion. Anadarko Petroleum reported sales of $3.77 billion during the same quarter last year, which indicates a negative year over year growth rate of 22.8%. The firm is expected to report its next earnings results after the market closes on Tuesday, May 1st.

According to Zacks, analysts expect that Anadarko Petroleum will report full year sales of $12.39 billion for the current fiscal year, with estimates ranging from $10.29 billion to $13.78 billion. For the next year, analysts expect that the company will post sales of $13.39 billion per share, with estimates ranging from $11.52 billion to $15.09 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Anadarko Petroleum.

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Anadarko Petroleum (NYSE:APC) last released its earnings results on Tuesday, February 6th. The oil and gas development company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.15. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Anadarko Petroleum had a negative return on equity of 7.48% and a negative net margin of 3.83%. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.50) EPS.

A number of research analysts recently weighed in on the company. Piper Jaffray reaffirmed a “buy” rating and set a $77.00 price objective on shares of Anadarko Petroleum in a research report on Wednesday. Royal Bank of Canada set a $79.00 price objective on Anadarko Petroleum and gave the company a “buy” rating in a research report on Friday, April 13th. Stifel Nicolaus set a $75.00 price objective on Anadarko Petroleum and gave the company a “buy” rating in a research report on Wednesday, March 28th. Jefferies Group set a $76.00 price objective on Anadarko Petroleum and gave the company a “buy” rating in a research report on Monday, March 19th. Finally, UBS assumed coverage on Anadarko Petroleum in a research report on Wednesday, March 7th. They set a “buy” rating and a $74.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $68.15.

Shares of APC traded down $0.38 on Monday, reaching $65.97. The stock had a trading volume of 2,546,458 shares, compared to its average volume of 5,571,897. The stock has a market cap of $34,111.13, a PE ratio of -33.65, a PEG ratio of 3.71 and a beta of 1.27. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 1.13. Anadarko Petroleum has a 12-month low of $39.96 and a 12-month high of $67.24.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th were issued a $0.25 dividend. 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.52%. Anadarko Petroleum’s dividend payout ratio (DPR) is presently -51.02%.

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

Institutional investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC bought a new stake in shares of Anadarko Petroleum in the 3rd quarter worth $116,000. Cerebellum GP LLC purchased a new position in shares of Anadarko Petroleum in the 4th quarter worth $131,000. Resources Investment Advisors Inc. purchased a new position in shares of Anadarko Petroleum in the 4th quarter worth $142,000. Avestar Capital LLC purchased a new position in shares of Anadarko Petroleum in the 4th quarter worth $129,000. Finally, Clear Perspective Advisors LLC boosted its stake in shares of Anadarko Petroleum by 166.7% in the 4th quarter. Clear Perspective Advisors LLC now owns 3,200 shares of the oil and gas development company’s stock worth $172,000 after buying an additional 2,000 shares during the last quarter. 88.01% of the stock is owned by institutional investors and hedge funds.

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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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Earnings History and Estimates for Anadarko Petroleum (NYSE:APC)

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