Passport Capital LLC reduced its position in shares of Anadarko Petroleum Co. (NYSE:APC) by 92.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,753 shares of the oil and gas development company’s stock after selling 111,346 shares during the quarter. Anadarko Petroleum accounts for about 1.6% of Passport Capital LLC’s investment portfolio, making the stock its 8th biggest holding. Passport Capital LLC’s holdings in Anadarko Petroleum were worth $470,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Stelac Advisory Services LLC bought a new stake in shares of Anadarko Petroleum during the third quarter valued at approximately $107,000. Steward Partners Investment Advisory LLC bought a new position in Anadarko Petroleum during the third quarter valued at $116,000. Cerebellum GP LLC bought a new position in Anadarko Petroleum during the fourth quarter valued at $131,000. Resources Investment Advisors Inc. bought a new position in Anadarko Petroleum during the fourth quarter valued at $142,000. Finally, Clear Perspective Advisors LLC boosted its stake in shares of Anadarko Petroleum by 166.7% during the fourth quarter. Clear Perspective Advisors LLC now owns 3,200 shares of the oil and gas development company’s stock valued at $172,000 after purchasing an additional 2,000 shares during the period. Hedge funds and other institutional investors own 88.19% of the company’s stock.
Anadarko Petroleum Co. (APC) traded up $0.36 during midday trading on Wednesday, reaching $58.92. The company had a trading volume of 4,080,000 shares, compared to its average volume of 5,820,000. The stock has a market capitalization of $31,370.00, a P/E ratio of -19.84, a PEG ratio of 3.77 and a beta of 1.40. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.73 and a quick ratio of 1.73. Anadarko Petroleum Co. has a 1 year low of $39.96 and a 1 year high of $64.17.
Anadarko Petroleum (NYSE:APC) last posted its earnings results on Tuesday, February 6th. The oil and gas development company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.15. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.90 billion. Anadarko Petroleum had a negative return on equity of 7.48% and a negative net margin of 3.83%. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.50) earnings per share. sell-side analysts predict that Anadarko Petroleum Co. will post 1.56 EPS for the current fiscal year.
Anadarko Petroleum declared that its board has approved a share repurchase program on Wednesday, February 7th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the oil and gas development company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.70%. This is an increase from Anadarko Petroleum’s previous quarterly dividend of $0.05. Anadarko Petroleum’s dividend payout ratio is currently -6.73%.
A number of research firms recently weighed in on APC. Seaport Global Securities raised shares of Anadarko Petroleum from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 19th. Piper Jaffray Companies reiterated a “buy” rating and issued a $64.00 price target on shares of Anadarko Petroleum in a report on Tuesday, January 9th. Credit Suisse Group assumed coverage on Anadarko Petroleum in a research report on Monday, December 11th. They issued an “outperform” rating and a $61.00 price objective on the stock. Royal Bank of Canada set a $63.00 target price on Anadarko Petroleum and gave the company a “buy” rating in a research report on Wednesday, December 20th. Finally, Citigroup lowered Anadarko Petroleum from a “buy” rating to a “neutral” rating and set a $60.00 price objective on the stock. in a report on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have given a buy rating to the company. Anadarko Petroleum currently has a consensus rating of “Buy” and a consensus price target of $67.70.
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Anadarko Petroleum Company Profile
Anadarko Petroleum Corporation (Anadarko) is an independent exploration and production company. The Company is engaged in developing, acquiring, and exploring for oil and natural-gas resources. The Company’s segments include Oil and Gas Exploration and Production; Midstream, and Marketing. The Company’s geographical segments include the United States and International.
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