Anadarko Petroleum Co. (NYSE:APC) shares shot up 2.6% during trading on Tuesday following a stronger than expected earnings report, AnalystRatingsNetwork.com reports. The stock traded as high as $40.61 and last traded at $39.23, with a volume of 9,763,913 shares changing hands. The stock had previously closed at $38.25.

The oil and gas development company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.09) by $0.52. During the same quarter in the previous year, the business earned $0.37 EPS. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.22 billion.

Several equities research analysts recently weighed in on APC shares. Tudor Pickering cut shares of Anadarko Petroleum from a “buy” rating to an “accumulate” rating in a research report on Thursday, November 12th. Vetr cut shares of Anadarko Petroleum from a “strong-buy” rating to a “buy” rating and set a $78.72 price target on the stock. in a research report on Wednesday, November 4th. Iberia Capital reduced their price target on shares of Anadarko Petroleum from $90.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, November 2nd. Oppenheimer cut shares of Anadarko Petroleum from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $86.31 to $95.00 in a research report on Thursday, October 29th. Finally, BMO Capital Markets reduced their price target on shares of Anadarko Petroleum from $85.00 to $80.00 in a research report on Monday, November 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Anadarko Petroleum has a consensus rating of “Buy” and an average price target of $81.20.

In other news, Director Peter J. Fluor bought 7,527 shares of the company’s stock in a transaction that occurred on Thursday, January 21st. The shares were purchased at an average price of $30.55 per share, for a total transaction of $229,949.85. Following the completion of the transaction, the director now directly owns 112,285 shares in the company, valued at $3,430,306.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter J. Fluor bought 25,000 shares of the company’s stock in a transaction that occurred on Thursday, January 7th. The stock was purchased at an average price of $41.19 per share, for a total transaction of $1,029,750.00. Following the transaction, the director now owns 104,758 shares of the company’s stock, valued at $4,314,982.02. The disclosure for this purchase can be found here.

A number of large investors have recently modified their holdings of APC. Beacon Capital Management purchased a new stake in shares of Anadarko Petroleum during the fourth quarter worth approximately $0. Douglass Winthrop Advisors LLC raised its stake in shares of Anadarko Petroleum by 1.0% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 12,848 shares of the oil and gas development company’s stock worth $1,064,000 after buying an additional 128 shares in the last quarter. Carroll Financial Associates raised its stake in shares of Anadarko Petroleum by 3.5% in the fourth quarter. Carroll Financial Associates now owns 5,568 shares of the oil and gas development company’s stock worth $270,000 after buying an additional 189 shares in the last quarter. Salem Capital Management Inc. raised its stake in shares of Anadarko Petroleum by 1.3% in the fourth quarter. Salem Capital Management Inc. now owns 23,250 shares of the oil and gas development company’s stock worth $1,129,000 after buying an additional 300 shares in the last quarter. Finally, UMB Bank raised its stake in shares of Anadarko Petroleum by 0.7% in the fourth quarter. UMB Bank now owns 51,867 shares of the oil and gas development company’s stock worth $2,520,000 after buying an additional 345 shares in the last quarter.

The stock’s market cap is $19.90 billion. The company’s 50 day moving average price is $41.73 and its 200 day moving average price is $61.12.

Anadarko Petroleum Corporation is an independent exploration and production company. The Company is engaged in the exploration, development, production, and marketing of natural gas, oil, condensate, natural gas liquids (NYSE:APC), and anticipated production of liquefied natural gas (LNG). Its assets include United States onshore resource plays in the Rocky Mountains area, the southern United States, the Appalachian basin, and Alaska. The Company has three segments: Oil and gas exploration and production, Midstream and Marketing. Oil and gas exploration and production segment explores for and produces natural gas, oil, condensate, and NGLs, and plans for the development and operation of its LNG project. Midstream segment engages in gathering, processing, treating, and transporting oil, natural-gas, and NGLs production. Marketing segment sells oil, natural-gas, and NGLs production. The Company is also an independent producer in the deepwater Gulf of Mexico.

12 Month Chart for NYSE:APC

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