Anadarko Petroleum (APC): Diving Into Deep Water - BMO

September 15, 2016 7:56 AM EDT
Get Alerts APC Hot Sheet
Price: $68.29 -0.39%

Rating Summary:
    33 Buy, 5 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 28 | Down: 20 | New: 17
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BMO Capital analyst, Phillip Jungwirth, commented on shares of Anadarko Petroleum (NYSE: APC) after the acquisition of Deepwater Gulf of Mexico assets from Freeport McMoRan (NYSE: FCX) which was widely viewed as a compelling deal that expanded its strategic GOM footprint at an attractive valuation.

The analyst estimated that ~80% of investors he spoke with viewed the deal favorably (most were positioned long), with the following key points:

1) valuation multiple and 2P reserves accretive

2) motivated seller

3) balance sheet improvement with FCF and equity

4) U.S. onshore acceleration

5) Lucius resource potential increase

6) multi-year production targets

For an analyst ratings summary and ratings history on Anadarko Petroleum click here. For more ratings news on Anadarko Petroleum click here.

Shares of Anadarko Petroleum closed at $55.62 yesterday.



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