Anadarko Petroleum Corporation APC shares are trading lower by $1.10 (2.4 percent) at $48.12 in Wednesday's session.
The catalyst for the decline is a downgrade from Barclays. Before the open, the firm lowered its rating on the stock from Equal-Weight to Underweight and lowered its price target from $52.00 to $42.00.
After a lower open, Anadarko only had a brief 10-cent pop to $48.46 before continuing its move lower. It has continued to make new lows for the session, with the current one standing at $47.95.
Its low for 2017 was made on June 8 at $46.54.
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