Anadarko Petroleum Turns a Profit in Q4 as Revenue Falls -11%; Results Top Wall Street Estimates (APC)

Anadarko Petroleum Turns a Profit in Q4 as Revenue Falls -11%; Results Top Wall Street Estimates (APC)


After the bell on Monday, oil and gas company Anadarko Petroleum Corporation (APC) said it saw a profit in the fourth quarter after posting a loss in the same quarter a year ago. Even though APC saw a rise in production, revenue for the quarter fell as oil and gas prices declined.

The Woodlands, Texas-based company posted a profit of $203 million, or 40 cents per share, in the fourth quarter. This is up from a loss of $358 million, or -72 cents per share, posted in the same period a year earlier.

Adjusting for special items, the profit came in at $457 million, or 91 cents per share. This easily exceeded the Wall Street view, according to FactSet, as analysts were expected an EPS of just 72 cents per share.

Revenue for the quarter was down -11% to $3.41 billion from $3.84 billion in the year earlier period. Analysts were forecasting APC would post slightly smaller revenue of $3.38 billion. Revenue was negatively impacted by declining natural gas and crude oil prices in the quarter.

Despite a decline in revenue, the company’s production rose +8.5% in the quarter to 741,000 barrels a day which helped alleviate the falling prices.

For the full year, Anadarko earned $2.39 billion, or $4.74 per share, versus a loss of $2.65 billion, or $5.32 per share, in 2011. Revenue was down about -4% to $13.41 billion in 2012.

Anadarko Petroleum shares were up 80 cents, or +0.99%, during pre-market trading on Tuesday. The stock is up +8.33% over the past year.

The Bottom Line
Shares of Anadarko Petroleum (APC) have a dividend yield of 0.45%, based on the company’s annualized dividend payout of 36 cents per share and the stock’s Monday closing price of $80.50.

Anadarko Petroleum Corporation (APC) is not recommended at this time, holding a DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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