NEW YORK (TheStreet) -- Shares of Anadarko Petroleum Corp. (APC) are up 1.32% to $93.56 in pre-market trade after it was reported that the independent exploration and production company's agreement to pay $5.15 billion to clean up nuclear fuel and other pollution received approval from a federal judge on Monday, the final hurdle for the settlement touted by the Justice Department as the largest-ever environmental cleanup recovery, Reuters reports.
The agreement, reached in April, resolved a lawsuit against Anadarko and its Kerr-McGee unit from creditors of Tronox Inc, the paint materials maker that was once a unit of Kerr-McGee, Reuters noted.
Opponents of the settlement could still appeal, but would face tough odds given its broad support among the parties in the case. Barring an appeal, money could be dispersed "within weeks," John Hueston, a lawyer for the Tronox creditors, said in an interview on Monday, according to Reuters.
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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 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 find that the company's return on equity has been disappointing."