Crude oil (WTI) is slipping 0.58% to $39.56 per barrel and Brent crude is sliding 0.07% to $40.44 per barrel.
Record high U.S. stockpiles and a stronger dollar put pressure on oil futures even though Baker Hughes (BHI) reported a bullish report this afternoon.
The firm said the number of rigs operating in the U.S. dropped by 15 to 372 in the previous week.
However, concerns about the overall production persists, the Wall Street Journal reports.
Based in The Woodlands, TX, Anadarko Petroleum engages in the exploration, development, production, and marketing of oil and gas properties.
Separately, TheStreet Ratings currently has a "Sell" rating on the stock with a letter grade of D.
The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: APC