Cowen & Co. Sticks to Their Buy Rating for Anadarko Petroleum (APC)

By Jason Carr

In a report issued on April 15, David Deckelbaum from Cowen & Co. maintained a Buy rating on Anadarko Petroleum (APCResearch Report), with a price target of $71. The company’s shares closed yesterday at $63.60.

According to TipRanks.com, Deckelbaum is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -22.6% and a 20.5% success rate. Deckelbaum covers the Basic Materials sector, focusing on stocks such as Jagged Peak Energy Inc, Continental Resources, and Range Resources Corp.

Anadarko Petroleum has an analyst consensus of Moderate Buy, with a price target consensus of $64.92, representing a 2.1% upside. In a report issued on April 1, Citigroup also initiated coverage with a Buy rating on the stock with a $65 price target.

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Based on Anadarko Petroleum’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.27 billion and net profit of $102 million. In comparison, last year the company earned revenue of $3.03 billion and had a net profit of $117 million.

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Anadarko Petroleum Corp. is an independent exploration and production company. It operates through the following segments: Exploration and Production; WES Midstream; and Other Midstream. The Exploration and Production segment explores and produces natural gas, crude oil, condensate, and natural gas liquids.