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4-Traders Homepage  >  Equities  >  Nyse  >  Anadarko Petroleum    APC

ANADARKO PETROLEUM (APC)
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Anadarko Swings to 4th-Quarter Profit; Revenue Falls

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02/04/2013 | 10:51pm CET
   By Kristin Jones 
 

Anadarko Petroleum Corp. (>> Anadarko Petroleum Corporation) swung to a fourth-quarter profit compared with a prior year hit by charges tied to the 2010 Deepwater Horizon oil spill, though revenue declined as energy prices fell.

Anadarko's operations in shale fields such as the Eagle Ford in south Texas and the Wattenburg in northeast Colorado have driven higher production in recent quarters. The company has also had a string of exploration successes off the coast of Mozambique.

The energy producer has said capital spending won't increase along with projected sales, as Anadarko is working to reduce costs. Anadarko also in January sold an interest in soda-ash producer OCI Wyoming LP for about $292.5 million.

For the fourth quarter, Anadarko reported a profit of $203 million, or 40 cents a share, compared with a year-earlier loss of $358 million, or 72 cents a share. The year-earlier quarter reflected the partial impact of a $4 billion settlement Anadarko paid to U.K. oil company BP PLC (BP, BP.LN) to settle claims related to the Deepwater Horizon oil spill. Anadarko owned a 25% stake in the blown-out well that was operated by BP.

Excluding the impact of the BP settlement and other items, per-share earnings rose to 91 cents from 85 cents. Revenue fell 11% to $3.41 billion.

Analysts polled by Thomson Reuters were expecting per-share earnings of 71 cents on revenue of $3.38 billion.

Sales volume reached 68 million barrels of oil equivalent, up from 63 million BOE a year earlier and flat with the previous quarter. Revenue from oil and natural-gas liquids sales declined from a year earlier as selling prices fell.

The company said it added 434 million barrels of oil equivalent of proved reserves in 2012, replacing 162% of the oil and gas it produced during the year.

Shares edged up 1.2% to $81.45 in after-hours trading. Through the close, the stock was down 4.6% in the past 12 months.

Write to Kristin Jones at [email protected]

Corrections & Amplifications

This item was corrected at 19:12 ET (00:12 GMT) to reflect the correct timing of the sale of Anadarko's interest in OCI Wyoming LP in the third paragraph. The sale occurred in January, not earlier this month as misstated in the original version.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article : Anadarko Petroleum Corporation
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Financials ($)
Sales 2018 12 385 M
EBIT 2018 1 975 M
Net income 2018 513 M
Debt 2018 12 734 M
Yield 2018 0,67%
P/E ratio 2018 63,14
P/E ratio 2019 45,65
EV / Sales 2018 3,66x
EV / Sales 2019 3,30x
Capitalization 32 622 M
Chart ANADARKO PETROLEUM
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Anadarko Petroleum Technical Analysis Chart | APC | US0325111070 | 4-Traders
Technical analysis trends ANADARKO PETROLEUM
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 70,7 $
Spread / Average Target 19%
EPS Revisions
Managers
NameTitle
Robert A. Walker Chairman, President & Chief Executive Officer
Robert G. Gwin Chief Financial Officer & Executive VP-Finance
Benjamin Matthew Fink Senior Vice President-Finance
Mario M. Coll Chief Information Officer & Senior Vice President
H. Paulett Eberhart Lead Independent Director
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