American Century Companies Inc. reduced its stake in shares of Anadarko Petroleum Co. (NYSE:APC) by 24.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,766,035 shares of the oil and gas development company’s stock after selling 876,981 shares during the quarter. American Century Companies Inc. owned approximately 0.54% of Anadarko Petroleum worth $202,612,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of APC. Boston Partners boosted its stake in shares of 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 valued at $433,537,000 after purchasing an additional 2,777,166 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Anadarko Petroleum by 46.9% during the second quarter. Bank of New York Mellon Corp now owns 7,941,486 shares of the oil and gas development company’s stock valued at $581,714,000 after purchasing an additional 2,536,173 shares during the period. Summit Trail Advisors LLC boosted its stake in shares of Anadarko Petroleum by 5,171.5% during the first quarter. Summit Trail Advisors LLC now owns 1,402,633 shares of the oil and gas development company’s stock valued at $1,403,000 after purchasing an additional 1,376,025 shares during the period. Ceredex Value Advisors LLC purchased a new stake in shares of Anadarko Petroleum during the first quarter valued at $59,123,000. Finally, AGF Investments Inc. boosted its stake in shares of Anadarko Petroleum by 1,887.4% during the first quarter. AGF Investments Inc. now owns 976,622 shares of the oil and gas development company’s stock valued at $58,998,000 after purchasing an additional 927,481 shares during the period. 88.56% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently weighed in on APC shares. Johnson Rice downgraded Anadarko Petroleum from a “buy” rating to an “accumulate” rating in a report on Wednesday, August 15th. Zacks Investment Research upgraded Anadarko Petroleum from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a report on Wednesday, May 9th. Stifel Nicolaus decreased their price objective on Anadarko Petroleum from $73.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, May 2nd. Jefferies Financial Group set a $77.00 price objective on Anadarko Petroleum and gave the company a “buy” rating in a report on Wednesday, April 25th. Finally, Credit Suisse Group set a $84.00 price objective on Anadarko Petroleum and gave the company a “buy” rating in a report on Monday, July 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $78.15.
Shares of Anadarko Petroleum stock opened at $62.32 on Tuesday. The stock has a market capitalization of $34.22 billion, a price-to-earnings ratio of -31.80, a PEG ratio of 2.20 and a beta of 1.27. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.34. Anadarko Petroleum Co. has a one year low of $39.96 and a one year high of $76.70.
Anadarko Petroleum (NYSE:APC) last announced its earnings results on Tuesday, July 31st. The oil and gas development company reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.06). The firm had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.08 billion. Anadarko Petroleum had a return on equity of 1.85% and a net margin of 3.63%. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.75) earnings per share. sell-side analysts anticipate that Anadarko Petroleum Co. will post 3.04 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 26th. Shareholders of record on Wednesday, September 12th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, September 11th. This represents a $1.00 dividend on an annualized basis and a yield of 1.60%. Anadarko Petroleum’s dividend payout ratio is presently -51.02%.
Anadarko Petroleum declared that its Board of Directors has approved a share buyback program on Monday, July 9th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the oil and gas development company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
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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