Anadarko Petroleum (NYSE:APC) Lowered to “Neutral” at Citigroup

Citigroup downgraded shares of Anadarko Petroleum (NYSE:APC) from a buy rating to a neutral rating in a research note released on Wednesday, January 3rd, Marketbeat.com reports. Citigroup currently has $60.00 price target on the oil and gas development company’s stock.

APC has been the subject of several other research reports. Scotiabank set a $62.00 price objective on shares of Anadarko Petroleum and gave the stock a buy rating in a research report on Saturday, November 25th. Cowen reissued a buy rating and issued a $60.00 price objective on shares of Anadarko Petroleum in a research report on Sunday, September 17th. Atlantic Securities raised shares of Anadarko Petroleum from a neutral rating to an overweight rating and raised their price target for the company from $49.05 to $62.00 in a report on Friday, October 6th. Morgan Stanley set a $55.00 price target on shares of Anadarko Petroleum and gave the company a hold rating in a report on Wednesday, October 18th. Finally, Stifel Nicolaus lowered their price target on shares of Anadarko Petroleum from $73.00 to $72.00 and set a buy rating for the company in a report on Wednesday, November 1st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and nineteen have issued a buy rating to the company’s stock. Anadarko Petroleum has an average rating of Buy and a consensus target price of $65.00.

Anadarko Petroleum (NYSE APC) traded up $0.48 during trading hours on Wednesday, reaching $58.98. 4,910,000 shares of the company’s stock were exchanged, compared to its average volume of 5,510,000. Anadarko Petroleum has a 12 month low of $39.96 and a 12 month high of $71.97. The stock has a market capitalization of $32,270.00, a P/E ratio of -16.66 and a beta of 1.38. The company has a debt-to-equity ratio of 1.11, a quick ratio of 2.03 and a current ratio of 2.03.

Anadarko Petroleum (NYSE:APC) last released its quarterly earnings data on Tuesday, October 31st. The oil and gas development company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.21). Anadarko Petroleum had a negative return on equity of 9.82% and a negative net margin of 17.13%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the company earned ($0.89) EPS. Anadarko Petroleum’s revenue was up 31.9% on a year-over-year basis. research analysts anticipate that Anadarko Petroleum will post -2.2 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 27th. Investors of record on Wednesday, December 13th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, December 12th. This represents a $0.20 annualized dividend and a yield of 0.34%. Anadarko Petroleum’s dividend payout ratio is presently -5.65%.

Anadarko Petroleum announced that its Board of Directors has authorized a stock buyback plan on Wednesday, September 20th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the oil and gas development company to purchase up to 10% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

A number of large investors have recently modified their holdings of APC. Hexavest Inc. bought a new stake in shares of Anadarko Petroleum during the 4th quarter worth about $35,192,000. Nisa Investment Advisors LLC raised its position in shares of Anadarko Petroleum by 6.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 209,925 shares of the oil and gas development company’s stock worth $11,260,000 after buying an additional 13,442 shares in the last quarter. Sawyer & Company Inc bought a new stake in shares of Anadarko Petroleum during the 4th quarter worth about $186,000. Rockland Trust Co. bought a new stake in shares of Anadarko Petroleum during the 4th quarter worth about $234,000. Finally, First American Trust FSB bought a new stake in shares of Anadarko Petroleum during the 4th quarter worth about $3,324,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

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Anadarko Petroleum 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 (NYSE:APC)

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