JPMorgan analyst Arun Jayaram views Anadarko Petroleum's strategic update last night for the company's 2019 capital plan and shareholder enhancement initiatives as a "strong positive." The midpoint of Anadarko's capital expenditure guidance sits 14% below the Street and only 1% below on total oil volumes, Jayaram tells investors in a research note. The company also announced a $1B increase in its buyback, 20% increase in the quarterly dividend, and $500M of incremental debt-reduction, the analyst points out. He expects the stock to trade higher today and keeps an Overweight rating on Anadarko.