Anadarko Petroleum Co. (NYSE:APC) declared a quarterly dividend on Wednesday, May 15th, RTT News reports. Stockholders of record on Wednesday, June 12th will be paid a dividend of 0.30 per share by the oil and gas development company on Wednesday, June 26th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, June 11th.
Anadarko Petroleum has decreased its dividend by an average of 0.9% annually over the last three years. Anadarko Petroleum has a payout ratio of 40.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Anadarko Petroleum to earn $3.67 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 32.7%.
APC stock traded up $0.03 during trading hours on Friday, hitting $70.56. 7,431,919 shares of the stock traded hands, compared to its average volume of 9,447,354. The firm has a 50-day moving average of $71.15. Anadarko Petroleum has a one year low of $40.40 and a one year high of $76.70. The firm has a market capitalization of $35.56 billion, a P/E ratio of 31.22, a P/E/G ratio of 4.15 and a beta of 1.72. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.51.
APC has been the subject of a number of recent analyst reports. Societe Generale lowered Anadarko Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Tudor Pickering lowered Anadarko Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Cowen lowered Anadarko Petroleum from an “outperform” rating to a “market perform” rating and increased their price target for the company from $71.00 to $72.00 in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. lowered Anadarko Petroleum from an “overweight” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research report on Monday, April 29th. Finally, Piper Jaffray Companies lowered Anadarko Petroleum from an “overweight” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and five have given a buy rating to the company. Anadarko Petroleum currently has a consensus rating of “Hold” and an average target price of $70.25.
About Anadarko Petroleum
Anadarko Petroleum Corporation engages in the exploration, development, production, and marketing of oil and gas properties. It operates through three segments: Exploration and Production, WES Midstream, and Other Midstream. The company explores for and produces oil, natural gas, and natural gas liquids (NGLs).
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