Market Overview

Anadarko Is On The Move (APC)

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Shares of Anadarko Petroleum (NYSE: APC) are moving higher today on heavy volume. The stock has gained 5.05% to $61.76. More than 7 million shares have already traded hands during the session compared to a daily average of 4.34 million. APC had been hit hard early in the year in the wake of the BP oil spill. Anadarko owns a 25% non-operating stake in that well.

The shares hit a low of around $35 at the end of July and have been rallying since then. On the three month chart, the stock has gained more than 28%. APC is now trailing at a trailing P/E of 27.8, a forward P/E of 28.3 and a PEG ratio of 2.17.

Anadarko Petroleum Corporation (Anadarko) is an independent oil and gas exploration and production company, with 2.3 billion barrels of oil equivalent of proved reserves as of December 31, 2009. The Company operates in three operating segments: Oil and gas exploration and production, Midstream and Marketing.

Posted-In: Intraday Update Movers

 

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