Anadarko Petroleum Corp.’s (APC) “Buy” Rating Reaffirmed at JPMorgan Chase & Co.
“Monsanto shares offer an attractive risk/reward proposition in our opinion. We think a reasonable floor price for the shares, in the event of a disruption of the Bayer/Monsanto combination, is $100/sh or 20x our $5.00 estimate for F2018 EPS. Should Bayer’s purchase of Monsanto be consummated, Monsanto shareholders would receive $128/share, most likely by the end of 2017. We believe that Monsanto’s product overlaps with Bayer are modest, manageable, and are unlikely to stand in the way of the transaction. Importantly, we think that the business combination is likely to lead to more agricultural innovation rather than less. Monsanto continues to increase its share of the global corn and soybean markets by demonstrating technology strength.”,” JPMorgan Chase & Co.’s analyst wrote.
Several other research firms have also recently commented on APC. BMO Capital Markets reaffirmed a hold rating on shares of Anadarko Petroleum Corp. in a research note on Wednesday, July 6th. Zacks Investment Research raised shares of Anadarko Petroleum Corp. from a hold rating to a buy rating and set a $63.00 target price for the company in a research note on Tuesday, July 12th. Goldman Sachs Group Inc. reaffirmed a buy rating and issued a $68.00 target price (up from $67.00) on shares of Anadarko Petroleum Corp. in a research note on Thursday, July 28th. Royal Bank Of Canada boosted their price objective on shares of Anadarko Petroleum Corp. from $66.00 to $70.00 and gave the company an outperform rating in a research note on Tuesday, September 13th. Finally, Credit Agricole SA reissued an underperform rating and set a $68.00 price objective on shares of Anadarko Petroleum Corp. in a research note on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have issued a buy rating to the company. Anadarko Petroleum Corp. has a consensus rating of Buy and a consensus target price of $68.69.
Shares of Anadarko Petroleum Corp. (NYSE:APC) traded down 1.104% during mid-day trading on Thursday, hitting $63.145. The stock had a trading volume of 878,998 shares. Anadarko Petroleum Corp. has a 12-month low of $28.16 and a 12-month high of $73.87. The stock’s market cap is $32.23 billion. The company’s 50 day moving average price is $58.12 and its 200 day moving average price is $53.14.
Anadarko Petroleum Corp. (NYSE:APC) last issued its quarterly earnings data on Tuesday, July 26th. The oil and gas development company reported ($0.60) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.80) by $0.20. Anadarko Petroleum Corp. had a negative return on equity of 9.88% and a negative net margin of 71.09%. The firm earned $1.92 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the firm posted $0.01 EPS. The company’s quarterly revenue was down 27.4% compared to the same quarter last year. Equities research analysts predict that Anadarko Petroleum Corp. will post ($2.71) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 28th. Investors of record on Wednesday, September 14th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.31%. The ex-dividend date was Monday, September 12th. Anadarko Petroleum Corp.’s dividend payout ratio is currently -1.95%.
Institutional investors have recently made changes to their positions in the stock. Virginia Retirement System purchased a new position in shares of Anadarko Petroleum Corp. during the first quarter valued at about $1,394,000. IFP Advisors Inc boosted its stake in Anadarko Petroleum Corp. by 67.6% in the first quarter. IFP Advisors Inc now owns 2,836 shares of the oil and gas development company’s stock valued at $132,000 after buying an additional 1,144 shares during the last quarter. Prudential Financial Inc. boosted its stake in Anadarko Petroleum Corp. by 0.8% in the first quarter. Prudential Financial Inc. now owns 648,419 shares of the oil and gas development company’s stock valued at $30,197,000 after buying an additional 5,100 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new stake in Anadarko Petroleum Corp. during the first quarter valued at $3,292,000. Finally, Advisor Partners LLC boosted its stake in Anadarko Petroleum Corp. by 141.4% in the first quarter. Advisor Partners LLC now owns 9,973 shares of the oil and gas development company’s stock valued at $464,000 after buying an additional 5,842 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.
About Anadarko Petroleum Corp.
Anadarko Petroleum Corporation (Anadarko) is an independent exploration and production company. The Company’s segments include Oil and Gas Exploration & Production; Midstream, and Marketing. The Oil and Gas Exploration & Production segment explores for and produces oil, condensate, natural gas and natural gas liquids (NGLs), and focuses on the development and operation of the Company’s liquefied natural gas (LNG) project in Mozambique.
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