Wells Fargo Positive on Anadarko Petroleum (APC) After Q2 Beat; No Tronox Update Leaves Door Open to Speculate
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Price: $89.34 -0.33%
Rating Summary:
21 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
21 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade APC Now!
Wells Fargo maintains an 'Outperform' on Anadarko Petroleum (NYSE: APC) price target range $100-$110.
Analyst, David Tameron, said, "APC delivered another solid quarter of production growth, coming in at 742 Mboe/d, +5.5% Q/Q and well above our 720 Mboe/d estimate. FY12 production guidance revised to 261-265 MMBoe from 258-262; we were at 261 MMBoe. Raise largely on non-op natural gas volumes."
Tameron also noted that APC implied additional Lucius type transactions are likely coming. As for Tronox (Nasdaq: TROX), the Wells analyst, feels the door has been left open for some speculation on potential outcomes, since APC didn't issue an update or increase reserves.
FY12 EPS estimate cut from $3.34 to $3.27 and FY13 from $3.92 to $3.84.
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 $71.75 yesterday, with a 52 week range of $56.42-$88.70.
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Analyst, David Tameron, said, "APC delivered another solid quarter of production growth, coming in at 742 Mboe/d, +5.5% Q/Q and well above our 720 Mboe/d estimate. FY12 production guidance revised to 261-265 MMBoe from 258-262; we were at 261 MMBoe. Raise largely on non-op natural gas volumes."
Tameron also noted that APC implied additional Lucius type transactions are likely coming. As for Tronox (Nasdaq: TROX), the Wells analyst, feels the door has been left open for some speculation on potential outcomes, since APC didn't issue an update or increase reserves.
FY12 EPS estimate cut from $3.34 to $3.27 and FY13 from $3.92 to $3.84.
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 $71.75 yesterday, with a 52 week range of $56.42-$88.70.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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