UBS Group Begins Coverage on Anadarko Petroleum (APC)
UBS Group assumed coverage on shares of Anadarko Petroleum (NYSE:APC) in a research report released on Wednesday, www.benzinga.com reports. The brokerage issued a buy rating and a $74.00 price target on the oil and gas development company’s stock.
A number of other brokerages also recently issued reports on APC. TheStreet raised Anadarko Petroleum from a d+ rating to a c rating in a research note on Tuesday, February 6th. Scotiabank set a $62.00 target price on Anadarko Petroleum and gave the stock a buy rating in a research note on Saturday, November 25th. Royal Bank of Canada set a $63.00 target price on Anadarko Petroleum and gave the stock a buy rating in a research note on Wednesday, December 20th. BMO Capital Markets increased their target price on Anadarko Petroleum from $65.00 to $70.00 and gave the stock an outperform rating in a research note on Thursday, February 8th. Finally, Barclays increased their target price on Anadarko Petroleum from $39.00 to $42.00 and gave the stock an underweight rating in a research note on Thursday, December 21st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have issued a buy rating to the stock. Anadarko Petroleum presently has an average rating of Buy and an average price target of $67.70.
Shares of Anadarko Petroleum (APC) opened at $58.03 on Wednesday. Anadarko Petroleum has a 1 year low of $39.96 and a 1 year high of $64.17. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market capitalization of $30,900.22, a P/E ratio of -71.64, a price-to-earnings-growth ratio of 3.71 and a beta of 1.40.
Anadarko Petroleum declared that its board has authorized a stock repurchase plan on Wednesday, February 7th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the oil and gas development company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 14th will be paid a $0.25 dividend. This is an increase from Anadarko Petroleum’s previous quarterly dividend of $0.05. This represents a $1.00 annualized dividend and a yield of 1.72%. The ex-dividend date is Tuesday, March 13th. Anadarko Petroleum’s dividend payout ratio (DPR) is presently -24.69%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp purchased a new position in Anadarko Petroleum in the 4th quarter valued at approximately $55,469,000. Dimensional Fund Advisors LP increased its position in Anadarko Petroleum by 2.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,582,421 shares of the oil and gas development company’s stock worth $126,152,000 after buying an additional 63,165 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its position in Anadarko Petroleum by 7.1% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 642,219 shares of the oil and gas development company’s stock worth $31,373,000 after buying an additional 42,627 shares in the last quarter. JPMorgan Chase & Co. increased its position in Anadarko Petroleum by 6.4% during the third quarter. JPMorgan Chase & Co. now owns 10,257,355 shares of the oil and gas development company’s stock worth $501,380,000 after buying an additional 619,056 shares in the last quarter. Finally, American International Group Inc. increased its position in Anadarko Petroleum by 2.9% during the fourth quarter. American International Group Inc. now owns 217,022 shares of the oil and gas development company’s stock worth $11,641,000 after buying an additional 6,123 shares in the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.
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.
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