New York State Common Retirement Fund cut its holdings in shares of Anadarko Petroleum Co. (NYSE:APC) by 6.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,485,704 shares of the oil and gas development company’s stock after selling 103,000 shares during the period. New York State Common Retirement Fund owned about 0.29% of Anadarko Petroleum worth $89,751,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in APC. Boston Partners lifted its stake in Anadarko Petroleum by 63.1% during the first quarter. Boston Partners now owns 7,176,573 shares of the oil and gas development company’s stock worth $433,537,000 after purchasing an additional 2,777,166 shares during the last quarter. Franklin Resources Inc. lifted its stake in Anadarko Petroleum by 13.1% during the fourth quarter. Franklin Resources Inc. now owns 14,853,841 shares of the oil and gas development company’s stock worth $796,760,000 after purchasing an additional 1,723,576 shares during the last quarter. Virtus Fund Advisers LLC lifted its stake in shares of Anadarko Petroleum by 2,503.4% in the 4th quarter. Virtus Fund Advisers LLC now owns 1,155,716 shares of the oil and gas development company’s stock valued at $61,993,000 after acquiring an additional 1,111,324 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of Anadarko Petroleum in the 4th quarter valued at $55,469,000. Finally, Ceredex Value Advisors LLC bought a new position in shares of Anadarko Petroleum in the 1st quarter valued at $59,123,000. Hedge funds and other institutional investors own 89.21% of the company’s stock.
Anadarko Petroleum opened at $67.59 on Friday, according to Marketbeat.com. Anadarko Petroleum Co. has a twelve month low of $39.96 and a twelve month high of $72.70. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.33.
Anadarko Petroleum (NYSE:APC) last posted its quarterly earnings data on Tuesday, May 1st. The oil and gas development company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.09. The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.14 billion. Anadarko Petroleum had a negative return on equity of 3.44% and a negative net margin of 0.15%. Anadarko Petroleum’s quarterly revenue was down 19.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.60) earnings per share. sell-side analysts predict that Anadarko Petroleum Co. will post 2.68 EPS for the current year.
Anadarko Petroleum announced that its Board of Directors has authorized a share buyback program on Wednesday, February 7th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the oil and gas development company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 27th. Investors of record on Wednesday, June 13th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, June 12th. This represents a $1.00 dividend on an annualized basis and a yield of 1.48%. Anadarko Petroleum’s payout ratio is -51.02%.
A number of brokerages have recently commented on APC. SunTrust Banks began coverage on Anadarko Petroleum in a research note on Friday, May 18th. They issued a “hold” rating and a $70.00 price target for the company. Wolfe Research upgraded Anadarko Petroleum from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 16th. Zacks Investment Research upgraded Anadarko Petroleum from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research note on Wednesday, May 9th. Jefferies Group set a $77.00 price target on Anadarko Petroleum and gave the company a “buy” rating in a research note on Wednesday, April 25th. Finally, Stifel Nicolaus set a $73.00 price target on Anadarko Petroleum and gave the company a “buy” rating in a research note on Monday, April 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $67.60.
Anadarko Petroleum Profile
Anadarko Petroleum Corporation engages in the exploration, development, production, and marketing of oil and gas properties. It operates through three segments: Exploration and Production, WES Midstream, and Other Midstream. The company explores for and produces oil, natural gas, and natural gas liquids (NGLs).
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