Anadarko Petroleum (NASDAQ:APC) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Anadarko Petroleum shares crossed above their 200-day moving average, reaching $19.16 before closing at $18.98, up 1.7% during trading.
• Analyst sentiment remained mixed: the stock carried an average “Hold” rating and a consensus price target of $21.80, with recent targets ranging from $21 to $22 and some firms issuing sell ratings.
• The company reported quarterly earnings of $0.26 per share, below the $0.36 consensus estimate, while revenue rose 27.4% year over year to $1.84 billion. Anadarko also increased its quarterly dividend to $0.50, implying a 10.5% annualized yield.

Anadarko Petroleum Co. (NASDAQ:APC - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $19.13 and traded as high as $19.16. Anadarko Petroleum shares last traded at $18.98, with a volume of 142,788 shares traded.

Analyst Ratings Changes

APC has been the subject of several recent research reports. UBS Group cut their target price on shares of Anadarko Petroleum from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, August 12th. Mizuho upped their price target on Anadarko Petroleum from $20.00 to $22.00 and gave the company a "neutral" rating in a report on Tuesday, July 28th. Weiss Ratings reiterated a "sell (e)" rating on shares of Anadarko Petroleum in a research report on Tuesday, August 25th. Finally, Zacks Research downgraded Anadarko Petroleum from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $21.80.

Anadarko Petroleum Trading Up 1.7%

The company has a fifty day simple moving average of $19.40 and a 200-day simple moving average of $19.13. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The stock has a market cap of $238.58 million and a price-to-earnings ratio of 27.51.

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

Anadarko Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Tuesday, August 18th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $2.00 dividend on an annualized basis and a yield of 10.5%. This is a positive change from Anadarko Petroleum's previous quarterly dividend of $0.26. Anadarko Petroleum's dividend payout ratio (DPR) is 289.86%.

Institutional Trading of Anadarko Petroleum

A number of hedge funds have recently modified their holdings of APC. Citadel Advisors LLC acquired a new stake in shares of Anadarko Petroleum in the second quarter worth $4,579,000. Greenland Capital Management LP purchased a new position in shares of Anadarko Petroleum during the second quarter valued at $264,000. Finally, Readystate Asset Management LP acquired a new position in Anadarko Petroleum during the second quarter valued at $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 focused on finding, developing and producing crude oil, natural gas and natural gas liquids, with operations spanning onshore and offshore assets.

Anadarko's U.S. activities included significant positions in the Delaware and DJ basins, the Gulf of Mexico and other domestic producing regions. Internationally, the company participated in exploration and development projects in countries including Algeria, Ghana, Mozambique and Peru.

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