NEW YORK (TheStreet) -- Anadarko Petroleum Copr. (APC) - Get Report price target was increased to $74 from $72 at Barclays today, which maintained its "equal weight" rating.

Anadarko Petroleum reported its 2015 second quarter financial results on Tuesday, with earnings of $0.12 per share on $2.64 billion in revenue. This compares to earnings of $0.45 per share on $4.44 billion revenue for the same period one year ago.

Wall Street analysts estimated a loss of 51 cents per share on revenue of $2.66 billion for the 2015 second quarter.

The company implemented enhanced completion designs and process improvements that increased its rig productivity from 35 to 70 type wells per rig per year, according to the analyst note.

"The company plans to accelerate drilling but to defer completion in the DJ Basin, and we are expecting Anadarko Petroleum to maintain or reduce its budget slightly in 2016," Barclays analysts said.

However, despite the oil growth, analysts expect total 2015 volumes to decrease, with gas driving the decline, Barclays added.

Anadarko Petroleum is a petroleum company that is engaged in the exploration, development, production, and marketing of natural gas, oil, condensate, natural gas liquids (NGLs), and anticipated production of liquefied natural gas (LNG).

Shares of Anadarko Petroleum closed down 2.98% to $74.35 in afternoon trading Friday.

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

"We rate ANADARKO PETROLEUM CORP (APC) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.

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