The Woodlands, Texas-based Anadarko Petroleum Corporation (NYSE:APC) announced a profit in the third-quarter as sales volumes surpassed the company’s July estimates.
Anadarko Petroleum, the second-biggest United States independent oil and natural-gas producer by market value, reported in a statement on Monday that net income was $121 million or 24 cents per share. That evaluates against a net loss of $3.05 billion or $6.12 per share in the similar three months period in a year ago due to costs from a Gulf of Mexico oil spill.
The company reported that profit was 9 cents per share without losses from energy contracts and other special items, over the 75-cent median forecasts of Bloomberg gathered 31 analysts.
The oil company announced sales volumes in the third- quarter moved up 12% from previous year to the equivalent of 739,000 barrels of oil per day. Anadarko announced on July 30 that it projected daily sales for the Q3 to be 707,000 to 728,000 barrels of oil equivalent.
The corporation lifted the midpoint of its full-year estimates by 3 million barrels, with a new range of 265 million to 267 million barrels. Anadarko confirmed that revenue surged 4.2% from previous year to $3.33 billion in the Q3.
Anadarko Petroleum Corporation (NYSE:APC) has market capitalization of 33.22 billion and offered -6.47% Return on equity. The company’s institutional ownership was 85.44%. Company’s net profit margin was -9.15% while gross profit margin was 85.56%. Beta factor was 1.49. The Beta factor, which is used as a measure of a company’s volatility in relation to the market, was 1.95.
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