NEW YORK (TheStreet) -- Shares of Anadarko Petroleum (APC) - Get Report are climbing, higher by 0.61% to $82.52 in midday trading Tuesday, after the company announced its plans to cut capital spending for 2015 by about a third to a range of between $5.4 billion - $5.8 billion, from $9.3 billion in 2014.

The company, along with many other energy peers, have decided to reduce investments for the short term instead of pursuing year-over-year growth.

Andarko also said it will cut its U.S. onshore rig activity by 40%. The company now sees a growth of about 5% year over year in 2015 oil sales volume to between 295 million and 301 million barrels of oil equivalent.

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For the first quarter, it expects a total sales volume of between 79 million to 82 million barrels of oil equivalent.

The Woodlands, TX-based Anadarko Petroleum is an independent exploration and production company with more than 2.5 billion barrels of oil equivalent of proved reserves.

Anadarko operates in three segments including oil and gas exploration and production, midstream, and marketing.

Separately, TheStreet Ratings team rates ANADARKO PETROLEUM CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate ANADARKO PETROLEUM CORP (APC) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its increase in net income, growth in earnings per share and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and weak operating cash flow."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Oil, Gas & Consumable Fuels industry. The net income increased by 48.7% when compared to the same quarter one year prior, rising from -$770.00 million to -$395.00 million.
• ANADARKO PETROLEUM CORP has improved earnings per share by 49.0% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, ANADARKO PETROLEUM CORP swung to a loss, reporting -$3.51 versus $1.57 in the prior year. This year, the market expects an improvement in earnings (-$0.64 versus -$3.51).
• Net operating cash flow has declined marginally to $1,952.00 million or 7.22% when compared to the same quarter last year. Despite a decrease in cash flow of 7.22%, ANADARKO PETROLEUM CORP is in line with the industry average cash flow growth rate of -12.58%.
• Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Oil, Gas & Consumable Fuels industry and the overall market, ANADARKO PETROLEUM CORP's return on equity significantly trails that of both the industry average and the S&P 500.
• You can view the full analysis from the report here: APC Ratings Report