It should not come as a surprise to many that as crude oil pushed $120 per barrel and gas prices passed $4 a gallon at the pump Anadarko Petroleum (NYSE: APC) reached a new 52 week high of $71.12 and finished Tuesday at $70.07. The stock is up over 75% (not including the dividend) since I recommended it last year.

At the time I disclosed that I acquired the stock at $40 and suggested this was a keeper. I like the fact that the company has a substantial amount of its proven oil and natural gas reserves in North America. It also pays a modest dividend 0.52% while sporting a P/E under 9 (TTM). When last I posted on the subject -- Serious Money: great picks: Aluminum Co. of China & Anadarko -- about ten weeks ago, APC was trading at $55, down from its previous high, though still returning a nice gain. That was the time to buy on the dip if you were watching it.

Continue reading Chasing Value: Anadarko (APC) up 75% -- hits new 52-week high

Chasing Value: Anadarko (APC) up 75% -- hits new 52-week high originally appeared on BloggingStocks on Wed, 23 Apr 2008 10:58:00 EST. Please see our terms for use of feeds.