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Weakness Seen in Anadarko Petroleum (APC): Stock Tumbles 6.2%
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Anadarko Petroleum Corporation ( APC - Free Report) saw a big move last session, as the company’s shares fell over 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the most recent downtrend for APC, as the stock is now down nearly 16% % in the past one-month time frame.
This slump shouldn’t be too much of a surprise to investors, as the company has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
APC currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Some better-ranked stocks in the basic materials sector include Endeavour International Corporation , Encana Corporation ( ECA - Free Report) and Harvest Natural Resources Inc. .All these stocks carry a Zacks Rank #2 (Buy).
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