-
Tips for becoming a good boxer - November 6, 2020
-
7 expert tips for making your hens night a memorable one - November 6, 2020
-
5 reasons to host your Christmas party on a cruise boat - November 6, 2020
-
What to do when you’re charged with a crime - November 6, 2020
-
Should you get one or multiple dogs? Here’s all you need to know - November 3, 2020
-
A Guide: How to Build Your Very Own Magic Mirror - February 14, 2019
-
Our Top Inspirational Baseball Stars - November 24, 2018
-
Five Tech Tools That Will Help You Turn Your Blog into a Business - November 24, 2018
-
How to Indulge on Vacation without Expanding Your Waist - November 9, 2018
-
5 Strategies for Businesses to Appeal to Today’s Increasingly Mobile-Crazed Customers - November 9, 2018
Anadarko Petroleum quarterly profit lower, beats Street
During the same quarter last year, the company posted $1.32 EPS.
Advertisement
Shares of Anadarko Petroleum Corporation (NYSE:APC) ended Monday session in red amid volatile trading. Further, net cash provided by operating activities was much higher than earnings at $1.2 billion during the quarter, though thanks to weaker oil and gas prices that was still down substantially from last quarter’s almost $2.5 billion. The company has a market cap of $1,904 million and there are 213,878,000 shares in outstanding.
The stock has a 50 day moving average of $77.81 and a 200-day moving average of $83.12. The company has realized a significant reduction in drilling cost per foot over a two-year period and is now drilling new Wattenberg horizontal wells for approximately $1 million per well. In the past year, the stock has trended in the range of $69.40 – $113.51. Six analysts surveyed by Zacks expected $3.72 billion.
As it can be seen above, the company missed its EPS and revenue estimates in the last few quarters.
A number of other equities research analysts also recently issued reports on APC.
The Rubicon Project Inc. on Tuesday reported a loss of $11.9 million in its second quarter, but the company’s stock rose in extended trading after results beat estimates. They noted that the move was a valuation call. Finally, Credit Suisse reaffirmed an outperform rating and issued a $94.00 target price (down previously from $97.00) on shares of Anadarko Petroleum in a research report on Wednesday, July 22nd. Imperial Capital reiterated an outperform rating on shares of Anadarko Petroleum in a research report on Tuesday, June 30th. The average Brent crude oil spot price declined by more than $48 per barrel, or nearly 44% year-on-year, during the second quarter.
Anadarko Petroleum Corporation is an independent exploration and production firm. The Firm is engaged in the exploration, development, creation, and marketing of natural gas, oil, condensate, natural gas liquids (NYSE:APC), and hoped-for creation of liquefied natural gas (LNG). Its assets include United States onshore resource plays in the southern United States, the Rocky Mountains area, the Appalachian basin, and Alaska. Oil and gas exploration and production segment explores for and produces oil natural gas, condensate, and NGLs, and plans for operation and the development of its LNG project.
Advertisement
There has been talk of intense interest in Mozambique’s gas reserves from national oil companies and the world’s largest oil companies. Midstream segment participates in processing, collecting, treating, and transporting oil, natural gas, and NGLs production. On September 6, 2013, it completed the acquisition of proved and unproved oil and natural gas properties located in Glasscock County.