Credit Suisse Sets Anadarko Petroleum Price Target at $92.00 (APC)

By admin | 7 years ago

Equities researchers at Credit Suisse (NYSE: CS) increased their target price on shares of Anadarko Petroleum (NYSE: APC) to $92.00 in a report issued on Wednesday. The firm currently has a “neutral” rating on the stock.

The analysts wrote, “Stronger than expected production in all key operating areas highlights the quality of the company’s asset base, with particularly impressive liquids ramps in both the Wattenberg and the Eagle Ford. In addition, the company has some near-term exploration sizzle, with 3 key wells expected to be decisioned within the next 90 days. Despite outperformance post strong Q112 results and an increase in guidance related to the Algerian resolution, all eyes appear to be on Tronox given numerous mentions on the call. While a significant discount to NAV has opened up after a ~10% underperformance since it’s last conference call, we remain on the sidelines given uncertainty associated with Tronox litigation.”

Shares of Anadarko Petroleum traded down 2.00% during mid-day trading on Wednesday, hitting $71.44. Anadarko Petroleum has a 52 week low of $57.11 and a 52 week high of $88.70. The company’s market cap is $35.608 billion.

The company last announced its quarterly results on Monday, April 30th. It reported $0.92 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.82 EPS by $0.10. The company’s quarterly revenue was up 6.0% on a year-over-year basis. On average, analysts predict that Anadarko Petroleum will post $1.06 earnings per share next quarter.

A number of other analysts have also recently weighed in on APC. Analysts at CLSA upgraded shares of Anadarko Petroleum from an “outperform” rating to a “buy” rating in a research note to investors on Thursday, April 12nd. Separately, analysts at Morgan Stanley (NYSE: MS) raised their price target on shares of Anadarko Petroleum from $100.00 to $103.00 in a research note to investors on Friday, March 16th. Finally, analysts at Societe Generale downgraded shares of Anadarko Petroleum from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, March 14th.

Anadarko Petroleum Corporation (Anadarko) is an independent exploration and production company. As of December 31, 2011, the Company had over 2.

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