Anadarko Petroleum Corporation (NYSE:APC) was upgraded by analysts at Atlantic Securities from a “neutral” rating to an “overweight” rating in a research report issued on Friday.

APC has been the topic of a number of other research reports. Jefferies Group LLC set a $62.00 price objective on shares of Anadarko Petroleum Corporation and gave the company a “buy” rating in a research report on Monday, August 28th. Cowen and Company restated a “buy” rating and issued a $60.00 price objective on shares of Anadarko Petroleum Corporation in a research report on Sunday, September 17th. Citigroup Inc. decreased their price objective on shares of Anadarko Petroleum Corporation from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. BMO Capital Markets restated a “hold” rating and issued a $53.00 price objective on shares of Anadarko Petroleum Corporation in a research report on Monday, September 4th. Finally, Royal Bank Of Canada set a $62.00 price objective on shares of Anadarko Petroleum Corporation and gave the company a “buy” rating in a research report on Thursday, August 24th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $69.78.

Shares of Anadarko Petroleum Corporation (APC) opened at 49.05 on Friday. Anadarko Petroleum Corporation has a 12 month low of $39.96 and a 12 month high of $73.33. The company’s market cap is $27.49 billion. The firm’s 50-day moving average is $44.41 and its 200-day moving average is $49.52.

Anadarko Petroleum Corporation (NYSE:APC) last issued its earnings results on Monday, July 24th. The oil and gas development company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.42). Anadarko Petroleum Corporation had a negative return on equity of 9.71% and a negative net margin of 19.31%. The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the business earned ($0.60) EPS. Anadarko Petroleum Corporation’s revenue for the quarter was up 41.8% compared to the same quarter last year. On average, equities research analysts predict that Anadarko Petroleum Corporation will post ($2.13) earnings per share for the current year.

Anadarko Petroleum Corporation declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, September 20th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the oil and gas development company to reacquire up to 10% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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Several hedge funds and other institutional investors have recently made changes to their positions in APC. Guardian Life Insurance Co. of America increased its position in shares of Anadarko Petroleum Corporation by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 2,156 shares of the oil and gas development company’s stock valued at $134,000 after buying an additional 15 shares during the period. FNY Partners Fund LP increased its position in shares of Anadarko Petroleum Corporation by 2,900.0% during the second quarter. FNY Partners Fund LP now owns 3,000 shares of the oil and gas development company’s stock valued at $136,000 after buying an additional 2,900 shares during the period. Sun Life Financial INC increased its position in shares of Anadarko Petroleum Corporation by 1,363.4% during the second quarter. Sun Life Financial INC now owns 3,000 shares of the oil and gas development company’s stock valued at $136,000 after buying an additional 2,795 shares during the period. YorkBridge Wealth Partners LLC increased its position in shares of Anadarko Petroleum Corporation by 12.5% during the second quarter. YorkBridge Wealth Partners LLC now owns 3,606 shares of the oil and gas development company’s stock valued at $166,000 after buying an additional 402 shares during the period. Finally, Fifth Third Bancorp increased its position in shares of Anadarko Petroleum Corporation by 33.9% during the first quarter. Fifth Third Bancorp now owns 2,687 shares of the oil and gas development company’s stock valued at $167,000 after buying an additional 680 shares during the period. Institutional investors own 85.05% of the company’s stock.

About Anadarko Petroleum Corporation

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 Corporation (NYSE:APC)

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