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.
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.
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.
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