Anadarko Petroleum (APC) Stock Falls Before Today's Q1 Results
NEW YORK (TheStreet) -- Anadarko Petroleum (APC) - Get Report stock is down 1.48% to $51.98 in afternoon trading on Monday before The Woodlands, TX-based oil and gas company reports its 2016 first quarter financial results after today's market close.
Wall Street is anticipating a loss of $1.16 per share on revenue of $1.81 billion for the latest quarter, significantly below a loss of 72 cents per share and revenue of $2.32 billion that the company reported for the 2015 first quarter.
Anadarko's first quarter will be affected by weak oil prices, which are falling again this afternoon because of growing OPEC production and rising domestic supplies.
WTI crude is declining 2.20% to $44.91 per barrel on the New York Mercantile Exchange, while Brent crude is down 2.72% to $46.08 per barrel on the Intercontinental Exchange this afternoon.
OPEC increased crude oil output to 32.64 million barrels per day in April from 32.47 million barrels per day in March, according to Reuters.
In the U.S., inventories at the Cushing, OK delivery hub grew by 821,969 barrels last week, Reuters added.
Separately, Anadarko has a "sell" rating and a letter grade of D at TheStreet Ratings because of the company's deteriorating net income, generally high debt management risk, disappointing return on equity, weak operating cash flow and disappointing stock performance.
You can view the full analysis from the report here: APC
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 article's author.
