Anadarko Petroleum Corporation reported fourth-quarter 2016 adjusted loss of 50 cents per share, wider than the Zacks Consensus Estimate of a loss of 48 cents. Reported loss was, however, narrower than the year-ago quarter level of 57 cents.
On a GAAP basis, Anadarko Petroleum’s loss amounted to 94 cents per share in the fourth quarter of 2016, significantly narrower than the prior-year GAAP loss of $2.45.
The difference between the GAAP and adjusted figures was due to gain of 35 cents on derivatives, a gain of 3 cents on environmental reserves, loss of 28 cents on divestiture, impairment losses of 39 cents, restructuring charges of 3 cents, early termination charges of 6 cents, loss of 4 cents on early extinguishment of debt and a charge of 2 cents for uncertain tax positions.
Total Revenue
In the reported quarter, Anadarko Petroleum’s revenues of $2,387 million topped the Zacks Consensus Estimate of $2,237 million by 6.7%.Revenues were also up 16.3% year over year.
Full-year revenues came in at $7,869 million, down 9.5% from $8,698 million. However, yearly revenues topped the Zacks Consensus Estimate of $7,760 million by 1.4%.
Operational Highlights
In the reported quarter, Anadarko Petroleum's average daily sales volume dipped 0.6% to 774,000 barrels of oil equivalent per day (BOE/d).
Quarterly sales volume of natural gas was 1,881 million cubic feet per day (MMcf/d), down 9% from the year-ago quarter level of 2,068 MMcf/d. Crude oil and condensate, and NGL sales volumes were 336 thousand barrels per day (MBbls/d) (up 6.3%) and 124 MBbls/d (up 5.1%), respectively.
Anadarko Petroleum’s total costs and expenses declined 28.6% year over year to $2,997 million primarily due lower operating and transportation expenses, and impairments.
Interest expenses amounted to $233 million, up nearly 11.5% from $209 million incurred a year ago.
Financial Condition
Anadarko Petroleum had cash and cash equivalents of $3,184 million as of Dec 31, 2016, up substantially from $939 million as of Dec 31, 2015.
Long-term debt as of Dec 31, 2016 was $15,281 million, down from $15,636 as of Dec 31, 2015.
Anadarko Petroleum's net cash from operating activities during the quarter was $1,123 million, up from $257 million in the prior-year period.
In the reported quarter, the company’s capital expenditure was $993 million, down from $1,313 million in the year-ago quarter.
Upcoming Peer Releases
Energen Corp. is slated to report fourth-quarter 2016 earnings on Feb 9. The Zacks Consensus Estimate stands at a loss of 25 cents.
Devon Energy Corporation (DVN - Free Report) is scheduled to report fourth-quarter 2016 earnings on Feb 14. The Zacks Consensus Estimate is pegged at 19 cents.
Carrizo Oil & Gas Inc. is expected to report fourth-quarter 2016 earnings on Feb 27. The Zacks Consensus Estimate stands at 31 cents.
Zacks Rank
Anadarko Petroleum Corporation currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Anadarko Petroleum Corporation reported fourth-quarter 2016 adjusted loss of 50 cents per share, wider than the Zacks Consensus Estimate of a loss of 48 cents. Reported loss was, however, narrower than the year-ago quarter level of 57 cents.
On a GAAP basis, Anadarko Petroleum’s loss amounted to 94 cents per share in the fourth quarter of 2016, significantly narrower than the prior-year GAAP loss of $2.45.
The difference between the GAAP and adjusted figures was due to gain of 35 cents on derivatives, a gain of 3 cents on environmental reserves, loss of 28 cents on divestiture, impairment losses of 39 cents, restructuring charges of 3 cents, early termination charges of 6 cents, loss of 4 cents on early extinguishment of debt and a charge of 2 cents for uncertain tax positions.
Total Revenue
In the reported quarter, Anadarko Petroleum’s revenues of $2,387 million topped the Zacks Consensus Estimate of $2,237 million by 6.7%.Revenues were also up 16.3% year over year.
Full-year revenues came in at $7,869 million, down 9.5% from $8,698 million. However, yearly revenues topped the Zacks Consensus Estimate of $7,760 million by 1.4%.
Operational Highlights
In the reported quarter, Anadarko Petroleum's average daily sales volume dipped 0.6% to 774,000 barrels of oil equivalent per day (BOE/d).
Quarterly sales volume of natural gas was 1,881 million cubic feet per day (MMcf/d), down 9% from the year-ago quarter level of 2,068 MMcf/d. Crude oil and condensate, and NGL sales volumes were 336 thousand barrels per day (MBbls/d) (up 6.3%) and 124 MBbls/d (up 5.1%), respectively.
Anadarko Petroleum’s total costs and expenses declined 28.6% year over year to $2,997 million primarily due lower operating and transportation expenses, and impairments.
Interest expenses amounted to $233 million, up nearly 11.5% from $209 million incurred a year ago.
Financial Condition
Anadarko Petroleum had cash and cash equivalents of $3,184 million as of Dec 31, 2016, up substantially from $939 million as of Dec 31, 2015.
Long-term debt as of Dec 31, 2016 was $15,281 million, down from $15,636 as of Dec 31, 2015.
Anadarko Petroleum's net cash from operating activities during the quarter was $1,123 million, up from $257 million in the prior-year period.
In the reported quarter, the company’s capital expenditure was $993 million, down from $1,313 million in the year-ago quarter.
Upcoming Peer Releases
Energen Corp. is slated to report fourth-quarter 2016 earnings on Feb 9. The Zacks Consensus Estimate stands at a loss of 25 cents.
Devon Energy Corporation (DVN - Free Report) is scheduled to report fourth-quarter 2016 earnings on Feb 14. The Zacks Consensus Estimate is pegged at 19 cents.
Carrizo Oil & Gas Inc. is expected to report fourth-quarter 2016 earnings on Feb 27. The Zacks Consensus Estimate stands at 31 cents.
Zacks Rank
Anadarko Petroleum Corporation currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on DVN - FREE