Guggenheim Remains a Buy on Anadarko Petroleum (APC)

By Jason Carr

In a report released yesterday, Subash Chandra from Guggenheim reiterated a Buy rating on Anadarko Petroleum (NYSE: APC), with a price target of $79. The company’s shares closed yesterday at $53.20.

According to TipRanks.com, Chandra is a 4-star analyst with an average return of 5.8% and a 47.9% success rate. Chandra covers the Basic Materials sector, focusing on stocks such as Wildhorse Resource Development Corp, Continental Resources, and Range Resources Corp.

Anadarko Petroleum has an analyst consensus of Strong Buy, with a price target consensus of $89.08, a 67.4% upside from current levels. In a report issued on October 19, Mizuho Securities also reiterated a Buy rating on the stock with a $100 price target.

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Based on Anadarko Petroleum’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.61 billion and net profit of $363 million. In comparison, last year the company earned revenue of $2.61 billion and had a GAAP net loss of $701 million.

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