Scotiabank Thinks Anadarko Petroleum’s Stock is Going to Recover

By Carrie Williams

Scotiabank analyst Peter Kissel maintained a Buy rating on Anadarko Petroleum (NYSE: APC) yesterday and set a price target of $66. The company’s shares opened today at $45.66, close to its 52-week high of $73.33.

According to TipRanks.com, Kissel is ranked 0 out of 5 stars with an average return of -15.7% and a 22.4% success rate. Kissel covers the Basic Materials sector, focusing on stocks such as Wildhorse Resource Development Corp, National Fuel Gas Company, and Evolution Petroleum Corp.

Currently, the analyst consensus on Anadarko Petroleum is Moderate Buy and the average price target is $67, representing a 46.7% upside.

In a report issued on June 20, Credit Suisse also maintained a Buy rating on the stock with a $82 price target.

The company has a one year high of $73.33 and a one year low of $43.45. Currently, Anadarko Petroleum has an average volume of 5.36M.

Based on the recent corporate insider activity of 62 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of APC in relation to earlier this year. Last month, John R. Gordon, a Director at APC bought 3,950 shares for a total of $186,440.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Anadarko Petroleum Corp. is an independent exploration and production company. Its asset portfolio includes positions in onshore resource plays in the Rocky Mountains region, the southern U.S. and the Appalachian basin.