Anadarko Petroleum Corporation (APC) to Issue Quarterly Dividend of $0.05 on December 27th
Anadarko Petroleum Corporation (NYSE:APC) declared a quarterly dividend on Wednesday, November 15th, RTT News reports. Shareholders of record on Wednesday, December 13th will be paid a dividend of 0.05 per share by the oil and gas development company on Wednesday, December 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Tuesday, December 12th.
Anadarko Petroleum has decreased its dividend by an average of 28.2% per year over the last three years. Anadarko Petroleum has a payout ratio of -8.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Anadarko Petroleum to earn ($0.92) per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of -21.7%.
Anadarko Petroleum (NYSE:APC) opened at $47.92 on Monday. Anadarko Petroleum has a one year low of $39.96 and a one year high of $73.33. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 1.11.
Anadarko Petroleum announced that its Board of Directors has authorized a stock buyback plan on Wednesday, September 20th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the oil and gas development company to reacquire up to 10% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
Several equities research analysts recently weighed in on the stock. BidaskClub downgraded shares of Anadarko Petroleum from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Stifel Nicolaus reissued a “buy” rating and set a $77.00 price target (up previously from $76.00) on shares of Anadarko Petroleum in a research report on Monday, September 25th. Scotiabank set a $62.00 price target on shares of Anadarko Petroleum and gave the company a “buy” rating in a research report on Saturday, November 25th. Royal Bank Of Canada reissued a “buy” rating and set a $62.00 price target on shares of Anadarko Petroleum in a research report on Friday, September 29th. Finally, Cowen set a $60.00 price target on shares of Anadarko Petroleum and gave the company a “buy” rating in a research report on Monday, October 16th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $67.18.
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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.
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