Anadarko Petroleum Moves Higher On Earnings Beat

Anadarko Petroleum APC reported earnings for the second quarter Tuesday.

EPS estimates for the quarter were $1.30; the company reported adjusted EPS of $1.32. The $0.02 beat on earnings helped to lift the stock in after-hours trading.

Anadarko raised full-year 2014 sales-volume guidance to a range of 299 to 302 MMBOE (millions barrels of oil equivalents), which is above the original range of 293 to 298 MMBOE. The boost in volume came as a result of improving on-shore and off-shore production.

"An increase of 65,000 barrels of oil per day over the second quarter of 2013 was led by our U.S. onshore assets and the El Merk development in Algeria," said Al Walker, Anadarko Chairman, President and CEO.

Anadarko reported revenue of $4.439 billion for the second quarter, which beat the analyst consensus estimate of $4.14 billion.

Anadarko Petroleum increased its quarterly dividend payout by 50 percent to $0.27 per share. Also, discretionary cash flow from operations improved from $1.908 billion to $2.434 billion on a year over year basis for Q2 2014.

Anadarko is up 1.62 percent in Wednesday's pre-market at $111.00.