Filed under: Major movement, International markets, Earnings reports, Forecasts, Anadarko Petroleum (APC), Chasing Value, Oil, Stocks to Buy, Best Stocks for 2008

After yesterday’s closing bell Anadarko Petroleum (NYSE: APC) reported strong earnings. Excluding nonrecurring items, Anadarko’s earnings totaled $1.44 per share for the quarter. On average, analysts were expecting just $1.22 per share. When compared with last year, Anadarko’s quarterly profit per share surged more than 40%.

Shares ended Monday at up $1.04 to $68.14, and rose over 10% today to $75.04 as oils prices continue to surge. It was only last week I posted Chasing Value: Anadarko (APC) up 75% — hits new 52-week high but I guess it will move higher still.

The other good news is that it has more than halved its debt since acquiring Kerr-McGee IN 2006.

Continue reading Anadarko Petroleum up on earnings & outlook

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This entry was posted on Tuesday, May 6th, 2008 at 3:13 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.