S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Energy

Anadarko Tries Clawing In (APC)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Anadarko Petroleum Corp. (NYSE:APC) is reacting to bits of news, one in discovery and one in earnings.  The company just yesterday reported a "substantial oil discovery" in the deepwater Gulf of Mexico. The company did not give an estimate of total barrels, but did say that the find is similar to six other exploration wells "targeting resources of more than 100 million barrels."

After the markets closed yesterday, Anadarko reported fourth quarterand full year earnings. The company said fourth quarter revenuetotaled $3.8 billion, with net income of $824 million and EPSof $1.79. A year ago, the company earned $265 million (EPS of $0.56).

One-time items added $750 million to Anadarko’s earnings. Without theseitems, the company’s earnings were $74 million and EPS would have been$0.16. Analysts had expected EPS of $0.17.

Earnings and revenue expectations for the current quarter are way down.Analysts anticipate an EPS loss of -$0.05 on revenuesof $2.24 billion.That’s ugly.

So far shares are up about 1% before the open at $36.50.  That is stilldown by more than half as its 52-week trading range is $24.57 to $81.37.

Paul Ausick
February 3, 2009

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

How Much Do You Really Need in Treasury Bonds to Replace a $50,000 Salary With Interest
Drew Wood |

How Much Do You Really Need in Treasury Bonds to Replace a $50,000 Salary With Interest
Fed’s Rate Freeze Could Sting for Social Security Recipients
Maurie Backman |

Fed’s Rate Freeze Could Sting for Social Security Recipients

Continue Reading

Jon C. Ogg |

Oil & Gas Hedging Woes, Devon Energy Falters With Chesapeake (DVN, CHK, APC, APA, OXY)

First-quarter earnings plunged at Devon Energy Corp. (NYSE: DVN) compared with the same period a year ago. The good news…
5 Merrill Lynch Top Large-Cap Energy Ideas to Buy With Earnings on Tap
Lee Jackson |

5 Merrill Lynch Top Large-Cap Energy Ideas to Buy With Earnings on Tap

Merrill Lynch has five large-cap energy stocks that rank as the analysts' top ideas and make sense for long-term growth…
Merrill Lynch’s 5 Top Large Cap Oil and Gas Stocks for 2017
Lee Jackson |

Merrill Lynch’s 5 Top Large Cap Oil and Gas Stocks for 2017

Here are the five top large cap oil and gas stock picks at Merrill Lynch right now. These top companies…
Anadarko Net Loss Much Smaller Than Expected, Capex Slashed 50%
Paul Ausick |

Anadarko Net Loss Much Smaller Than Expected, Capex Slashed 50%

Anadarko Petroleum reported disappointing fourth-quarter 2015 results after the markets closed Monday.
Paul Ausick |

Which Exploration Companies Can Still Win Under Low Oil Prices

Without a refining business to help offset low crude prices or the ability to export crude oil in quantity, among…
Douglas A. McIntyre |

Anadarko Sets Capital Budget, Guidance for 2009 (APC)

Anadarko Petroleum Corp. (NYSE:APC) announced a capital spending budget of $4 billion to $4.5 billion for 2009.  The company spent…
Whiting Petroleum Hunkers Down as Oil Price Slips Again
Trey Thoelcke |

Whiting Petroleum Hunkers Down as Oil Price Slips Again

After oil prices dropped Wednesday following a build-up in U.S. crude oil stockpiles, Whiting Petroleum was one of those that…
Jon C. Ogg |

New Interest Driving Devon After Earnings (DVN)

Devon Energy Corporation (NYSE: DVN) is running up more than normal after its quarterly earnings report.  The $28 billion market…
Earnings Previews: Occidental Petroleum, Range Resources, Zoom Video
Paul Ausick |

Earnings Previews: Occidental Petroleum, Range Resources, Zoom Video

After U.S. markets close on Monday, these three companies will be releasing quarterly earnings reports.

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618