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Stock Update (NYSE:APC): Anadarko Announces Increase In Maximum Tender Amount And Early Tender Results Of Its Tender Offer For Its 6.375% Senior Notes Due 2017

[PR Newswire] – HOUSTON, April 22, 2016 /PRNewswire/ — Anadarko Petroleum Corporation (APC) (“Anadarko”) announced today that it has amended the terms of its previously announced tender offer to purchase for cash its outstanding 6.375% Senior Notes due 2017 (the “Notes”) to increase the aggregate principal amount of Notes that may be purchased to $1,250,000,000 from $1,000,000,000 (as so amended, the “Maximum Tender Amount”). All other terms of the tender offer, as previously announced, remain unchanged. Anadarko also announced the early tender results of the tender offer. Read more on this. Anadarko Petroleum Corporation (APC) , with a current market cap of $26.53B, began trading this morning at $50.14. A quick look at the market, the company’s stock traded between $50.05 and $51.53 and has traded between $28.16 and $95.75 over the past 12 months. APC shares are currently priced at -14.17x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s -1.51x forward p/e ratio. And for passive income investors, the company pays shareholders $0.20 per share annually in dividends, yielding 0.40%. According to a consensus of 31 analysts, the earnings estimate of $-1.14 per share would be $0.00 better than the year-ago quarter and a $0.00 sequential increase. What we find to be interesting is that the full-year EPS estimate of $-3.53 is a $1.53 setback when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.85 Billion. If realized, that would be a 20.26% decrease over the year-ago quarter. More recently, JP Morgan upgraded APC from Neutral to Overweight (Apr 15, 2016). Previously, Stifel downgraded APC from Buy to Hold. The average price target for APC shares by the analysts covering the stock is $58.43, which is 16.53% above where the stock opened this morning. See more in (NYSE:APC) Similar Articles: Company Update: Anadarko Petroleum Corporation (NYSE:APC) – Anadarko Announces Tender Offer For Up To $1.0 Billion Of Its 6.375% Senior Notes Due 2017 Company Update (NYSE:SLB): Schlumberger Announces Increase in Maximum Tender Amount and Early Tender Results for Tender Offer for Senior Notes of Cameron International Corporation Company Update: Anadarko Petroleum Corporation (NYSE:APC) – Anadarko Announces Pricing Of $3.0 Billion Of Senior Notes
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