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Anadarko Delivers a Mixed One: 2Q17 Earnings, Revenue

PART:
1 2 3 4 5
Part 3
Anadarko Delivers a Mixed One: 2Q17 Earnings, Revenue PART 3 OF 5

How Did Anadarko Stock Perform after Its 2Q17 Earnings?

Anadarko’s stock performance

After Anadarko Petroleum’s (APC) 2Q17 earnings release on July 24, 2017, APC stock fell ~1.4% in pre-market trading on July 25. APC’s stock has fallen ~37.1% YoY (year-over-year).

Anadarko’s performance has been driven mainly by crude oil prices (UCO). Along with natural gas prices (UGAZ), crude oil prices have also been driving the Energy Select Sector SPDR ETF (XLE).

How Did Anadarko Stock Perform after Its 2Q17 Earnings?

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It’s been a tough year for the energy sector. Crude oil prices have fallen ~11.5% since the beginning of the year, while natural gas prices have fallen ~13%. The energy sector or the XLE has fallen ~15% YTD (year-to-date).

Performance versus SPY

Needless to say, both XLE and Anadarko Petroleum have underperformed the SPDR S&P 500 ETF (SPY), which has risen ~10% YTD. The energy sector makes up ~7.0% of SPY.

Anadarko’s stock fall on July 25 before the market opened is likely the result of its worse-than-expected earnings reported for 2Q17. Markets seemed to have ignored APC’s better-than-expected revenue in 2Q17. (To know more about the company’s 2Q17 performance, read Parts 1 and 2 of this series.)

As we’ve discussed, weak crude oil prices have likely been pulling down the stock. But on July 24, crude oil prices closed 1.2% higher. Still, like APC’s upbeat revenue, markets seem to have ignored the upward movement in crude oil prices as well.

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