Piper Jaffray Companies started coverage on shares of Anadarko Petroleum (NYSE:APC) in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage issued an overweight rating and a $56.00 price target on the oil and gas development company’s stock.

APC has been the subject of several other research reports. Morgan Stanley set a $55.00 price objective on shares of Anadarko Petroleum and gave the company a hold rating in a research report on Wednesday, October 18th. Jefferies Group set a $62.00 target price on shares of Anadarko Petroleum and gave the stock a buy rating in a report on Monday, August 28th. Royal Bank of Canada set a $62.00 target price on shares of Anadarko Petroleum and gave the stock a buy rating in a report on Thursday, August 24th. Cowen set a $60.00 target price on shares of Anadarko Petroleum and gave the stock a buy rating in a report on Monday, October 16th. Finally, Scotiabank restated a buy rating and issued a $62.00 target price on shares of Anadarko Petroleum 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 twenty have issued a buy rating to the company’s stock. Anadarko Petroleum currently has an average rating of Buy and a consensus target price of $64.52.

Anadarko Petroleum (NYSE:APC) opened at $52.93 on Thursday. Anadarko Petroleum has a 12-month low of $39.96 and a 12-month high of $72.32. 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 has a market cap of $28,430.31, a price-to-earnings ratio of -14.91 and a beta of 1.38.

Anadarko Petroleum (NYSE:APC) last released its quarterly earnings data on Tuesday, October 31st. The oil and gas development company reported ($0.77) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by ($0.21). Anadarko Petroleum had a negative net margin of 17.13% and a negative return on equity of 9.82%. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the business earned ($0.89) EPS. Anadarko Petroleum’s revenue for the quarter was up 31.9% compared to the same quarter last year. equities research analysts forecast that Anadarko Petroleum will post -2.21 EPS for the current fiscal year.

Anadarko Petroleum declared that its board has approved a share repurchase plan on Wednesday, September 20th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the oil and gas development company to buy up to 10% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Wednesday, December 13th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Tuesday, December 12th. Anadarko Petroleum’s dividend payout ratio (DPR) is -5.63%.

Institutional investors have recently modified their holdings of the company. Stelac Advisory Services LLC purchased a new position in shares of Anadarko Petroleum in the 3rd quarter worth approximately $107,000. Fis Group Inc. purchased a new position in shares of Anadarko Petroleum in the 3rd quarter worth approximately $107,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Anadarko Petroleum in the 3rd quarter worth approximately $116,000. Sun Life Financial INC grew its position in shares of Anadarko Petroleum by 1,363.4% in the 2nd quarter. Sun Life Financial INC now owns 3,000 shares of the oil and gas development company’s stock worth $136,000 after buying an additional 2,795 shares during the last quarter. Finally, FNY Partners Fund LP grew its position in shares of Anadarko Petroleum by 2,900.0% in the 2nd quarter. FNY Partners Fund LP now owns 3,000 shares of the oil and gas development company’s stock worth $136,000 after buying an additional 2,900 shares during the last quarter. 87.76% of the stock is currently owned by hedge funds and other institutional investors.

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About Anadarko Petroleum

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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