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.
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