Anadarko And Transocean Still Look Undervalued (APC, RIG)

Shares of Anadarko Petroleum APC and Transocean RIG have been surging over the last month as the BP oil spill appears close to a resolution. Anadarko (APC) owns a 25% non-operating stake in the Macondo well and Transocean (RIG) leased the Deepwater Horizon drilling rig to BP BP that exploded and sunk to the bottom of the Gulf of Mexico, precipitating the spill. Over the last month, APC shares have gained 46% and RIG has jumped 21%. Analysts at Pritchard Capital still believe both stocks are undervalued. They have a Buy rating and price target of $73 on Anadarko shares and a Buy rating and $88 price target on shares of Transocean. During today's trading session, RIG has surged 8.57% to $58.15 and APC has gained 0.54% to $55.72.