Anadarko Petroleum (NASDAQ:APC) Stock Rating Raised to Hold at Zacks Research

Key Points

• Zacks Research upgraded Anadarko Petroleum from “strong sell” to “hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $21.80.
• APC shares opened at $16.24, below their 50-day and 200-day moving averages of $18.24 and $18.89, respectively, and have traded between $14.50 and $21.72 over the past year.
• The company reported quarterly EPS of $0.26, missing the $0.36 consensus estimate, although revenue rose 27.4% year over year to $1.84 billion; major shareholder Blackstone also sold 124,600 shares at an average price of $16.40.

Anadarko Petroleum (NASDAQ:APC - Get Free Report) was upgraded by investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Tuesday, Zacks reports.

Several other equities research analysts also recently commented on the stock. Weiss Ratings raised shares of Anadarko Petroleum from a "sell (e)" rating to a "hold (c)" rating in a research note on Tuesday, September 22nd. Mizuho raised shares of Anadarko Petroleum from a "neutral" rating to an "outperform" rating and set a $22.00 price target for the company in a report on Friday, October 2nd. Finally, UBS Group lowered their price objective on shares of Anadarko Petroleum from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.80.

Anadarko Petroleum Price Performance

Shares of APC opened at $16.24 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. Anadarko Petroleum has a 1 year low of $14.50 and a 1 year high of $21.72. The stock has a market cap of $204.14 million and a P/E ratio of 23.54. The stock's 50-day moving average price is $18.24 and its two-hundred day moving average price is $18.89.

Anadarko Petroleum (NASDAQ:APC - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The oil and gas development company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.10). The firm had revenue of $1.84 billion during the quarter. Anadarko Petroleum's quarterly revenue was up 27.4% compared to the same quarter last year. On average, equities analysts predict that Anadarko Petroleum will post 0.95 earnings per share for the current year.

Insider Buying and Selling

In other Anadarko Petroleum news, major shareholder Holdings I. L.P. Blackstone sold 124,600 shares of the firm's stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $16.40, for a total transaction of $2,043,440.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp bought a new position in Anadarko Petroleum during the 2nd quarter worth about $2,536,000. Citadel Advisors LLC acquired a new stake in shares of Anadarko Petroleum in the 2nd quarter valued at about $4,579,000. Greenland Capital Management LP bought a new stake in shares of Anadarko Petroleum in the second quarter valued at about $264,000. Finally, Readystate Asset Management LP bought a new stake in shares of Anadarko Petroleum in the second quarter valued at about $1,696,000.

About Anadarko Petroleum

Anadarko Petroleum Corporation was an independent oil and natural gas exploration and production company headquartered in The Woodlands, Texas. The company explored for, developed and produced crude oil, natural gas and natural gas liquids, with operations focused primarily on onshore and offshore properties.

Anadarko's U.S. activities included the Delaware and DJ basins, the Gulf of Mexico and other domestic producing regions. Internationally, the company held exploration and production interests in areas including Algeria, Ghana, Mozambique and South Africa.

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