NEW YORK (TheStreet) -- Anadarko Petroleum (APC) - Get Report shares are up by 4.53% to $76.15 in mid-morning trading on Wednesday, as the stock continues to rise following yesterday's release of the company's 2015 second quarter financial results.
The Woodlands, TX-based company reported a second quarter net profit of $61 million, or 1 cent per diluted share on revenue of $2.64 billion.
Analysts on average were expecting the company to post a loss of 53 cents per share during the quarter and generate revenue of $2.57 billion.
Revenues were down over 40% from the previous year as falling oil prices, which nearly halved since the same period last year, put pressure on the entire oil sector.
"During the second quarter, we delivered more than 18,000 barrels per day of higher-margin oil sales volumes above our guidance, driven by continued improvements in productivity and ongoing operating efficiencies," said CEO Al Walker.
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 number of negative factors, 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 generally high debt management risk, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and deteriorating net income."