NEW YORK (TheStreet) -- Anadarko Petroleum (APC) - Get Anadarko Petroleum Corporation Report shares are up 3.3% to $93.33 on Wednesday after the company reported its third quarter earnings results before the opening bell today.
The company reported a 30% rise in revenue over the previous year to $4.31 billion, ahead of analysts $4.2 billion estimates for the period.
The company also reported earnings of $1.16 per diluted share on an adjusted basis, 11 cents short of the $1.27 analysts were expecting for the quarter.
The company's average daily sales volume climbed 9.5% over the previous year to 849,000 barrels of oil equivalent per day. However, the company's total costs and expenses also climbed 4.7% over the previous year's period to $3.31 billion due to higher oil and gas transportation expenses and depreciation, depletion, and amortization charges.
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 robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: APC Ratings Report