Why Has JP Morgan Given Anadarko Petroleum Corporation (NYSE:APC) a $58.00 Price Target
In recent note shared with investors and clients on Wednesday, 9 December, analysts at JP Morgan started coverage for Anadarko Petroleum Corporation (NYSE:APC) shares. The firm has decided to set a Neutral rating along with a $58.00, adding 11.88% to the target.
From a total of 29 analysts covering Anadarko Petroleum Corporation (NYSE:APC) stock, 28 rate it a ”Buy”, 0 a “Sell”, and 6 a ”Hold”. This means that 82% of the ratings are positive. The highest target price is $101 while the lowest target price is $59. The mean of all analyst targets is $83.45 with a 65.82% above today’s ($51.82) stock price. Anadarko Petroleum Corporation was the topic of 24 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Argus Research maintained shares on November 25 with “Buy” rating. Citigroup maintained shares with “Neutral” rating and $76 target share price in a report from a September 14. Tudor Pickering downgraded APC stock in a recent report from November 12 to “Accumulate” rating. Finally, Iberia Capital Partners maintained the stock with “Outperform” rating in a report issued on a November 2.
Approximately shares of stock traded hands. Anadarko Petroleum Corporation (NYSE:APC) has declined 42.20% since May 6, 2015 and is downtrending. It has underperformed by 41.41% the S&P500.
The overall sentiment of institutions has increased to 0.96 in Q2 2015. Its up 0.08, from 0.88 in 2015Q2. The ratio increased, as 94 institutions have sold all the shares of Anadarko Petroleum Corporation that they owned while 285 funds have taken shares off the table. 65 funds have purchased shares for the first time while 300 added to their positions. These institutions now hold 440.87 million shares or 4.79% more than the 420.73 million shares they owned in 2015Q2.
The Fund Astenbeck Capital Management Llc currently is holding shares equating to 8.48% of its total portfolio in Anadarko Petroleum Corporation representing a total of 162,402 shares. Another fund,Lakeshore Capital Llc, is holding a total of 49,842 shares equating to 6.61% of their holdings. Additionally, Mitchell Group Inc has a 687,519 share stake in Anadarko Petroleum Corporation which represents 5.27% of their total portfolio. The Fund, Cambrian Capital Limited Partnership, based out of California, has also built up a stake in the stock, which represents a total of 5.15% of their total portfolio. Finally Amiya Capital Llp, a fund which is based in the state of United Kingdom reported a total holdings of 10,770 shares.
Anadarko Petroleum Corporation is an independent exploration and production company. The company has a market cap of $26.33 billion. The Firm is engaged in the exploration, development, production, and marketing of natural gas, oil, condensate, natural gas liquids , and anticipated production of liquefied natural gas (LNG). It currently has negative earnings. The Company’s assets include United States onshore resource plays in the Rocky Mountains area, the southern United States, the Appalachian basin, and Alaska.
According to Zacks Investment Research, “Anadarko Petroleum Corporation is one of the world’s largest independent oil and gas exploration and production companies. Majority of the company’s total proved reserves are located in the U.S., primarily in the mid-continent (Kansas, Oklahoma and Texas) area, offshore in the Gulf of Mexico and in Alaska. Most of the company’s production is domestic and the remainder is from Algeria. The company also owns and operates gas gathering systems in its U.S. core producing areas.” Get a free copy of the Zacks research report on Anadarko Petroleum Corporation (APC).