Anadarko Reaches 52-Week High - Analyst Blog
20 Maggio 2013 - 11:40PM
Zacks
On May 17, 2013 shares of
Anadarko Petroleum Corporation (APC) touched a new
52-week high of $90.46. The company’s high-quality exploration
programs in the Gulf of Mexico (GoM) and West African prospects
drove the stock to a new high. Anadarko recorded earnings surprises
in the last four quarters with an average beat of 17.08%.
The company’s notable high-end
programs in 2012 that primarily propelled earnings include the oil
discoveries in Ghana and Cote d'Ivoire and natural gas discovery in
Mozambique. This has helped in expanding the company’s reserve
portfolio.
The joint venture agreements for
the development of the Lucius project with an undisclosed party and
the Salt Creek field project with Linn Energy, LLC were also
significant highlights. Successful appraisals in the deepwater GoM
and assets in Africa drove the healthy performance at Anadarko
Petroleum last year.
The company’s onshore assets in the
Wattenberg, Eagleford Shale, Greater Natural Buttes, and the
Marcellus Shale basins logged in record production of 100,000
barrels of oil equivalent (BOE) per day at the end of 2012.
Anadarko Petroleum is continuing to
tap the resource-rich GoM and African prospects through the first
quarter of 2013. Year to date, the company has signed a 12.75%
interest sell-off deal with an unnamed entity at its Heidelberg oil
play which is expected to release first oil soon. The new Phobos
oil discovery in the GoM will further spur returns, going
forward.
Meanwhile, the company’s sound
financial position backed by robust cash flows has aided Anadarko
Petroleum to effectively execute its exploration activities.
The present valuation also makes
the shares of Anadarko Petroleum attractive. The forward
price/earnings (P/E) multiple of 21.9x is higher than the peer
group average of 17.3x, reflecting a premium of 26.6%. In addition,
Return on Equity ("ROE") of the company is 8.5%, higher than the
peer group average of 8.0%.
Currently Anadarko Petroleum holds
a Zacks Rank #3 (Hold). Oil and gas exploration stocks that are
well-placed with a Zacks #1 include Abraxas Petroleum
Corporation (AXAS), EPL Oil & Gas,
Inc. (EPL) and Sandridge Mississippian Trust
II (SDR).
Based in The Woodlands, Texas,
Anadarko Petroleum Corporation engages in the exploration,
development, production, and marketing of natural gas, crude oil,
condensate, and natural gas liquids in the United States and
internationally.
ANADARKO PETROL (APC): Free Stock Analysis Report
ABRAXAS PETE/NV (AXAS): Free Stock Analysis Report
EPL OIL&GAS INC (EPL): Free Stock Analysis Report
SANDRDG MS T II (SDR): Free Stock Analysis Report
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