Raymond James & Associates lowered its holdings in Anadarko Petroleum Co. (NYSE:APC) by 0.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,563,158 shares of the oil and gas development company’s stock after selling 6,914 shares during the quarter. Raymond James & Associates’ holdings in Anadarko Petroleum were worth $114,501,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. grew its position in Anadarko Petroleum by 5.0% in the 2nd quarter. BlackRock Inc. now owns 42,439,494 shares of the oil and gas development company’s stock valued at $3,108,695,000 after purchasing an additional 2,037,976 shares during the period. FMR LLC boosted its holdings in Anadarko Petroleum by 9.2% during the 2nd quarter. FMR LLC now owns 23,949,562 shares of the oil and gas development company’s stock worth $1,754,305,000 after acquiring an additional 2,011,856 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Anadarko Petroleum by 46.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,941,486 shares of the oil and gas development company’s stock worth $581,714,000 after acquiring an additional 2,536,173 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Anadarko Petroleum by 29.4% during the 2nd quarter. Janus Henderson Group PLC now owns 5,987,333 shares of the oil and gas development company’s stock worth $438,573,000 after acquiring an additional 1,360,899 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in Anadarko Petroleum by 14.7% during the 2nd quarter. Jennison Associates LLC now owns 2,937,066 shares of the oil and gas development company’s stock worth $215,140,000 after acquiring an additional 377,398 shares during the last quarter. 86.28% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on APC shares. Bank of America set a $100.00 price objective on shares of Anadarko Petroleum and gave the stock a “buy” rating in a report on Tuesday, July 31st. Mizuho started coverage on shares of Anadarko Petroleum in a report on Monday, July 23rd. They set a “buy” rating and a $102.00 price objective on the stock. Mitsubishi UFJ Financial Group lifted their price objective on shares of Anadarko Petroleum to $92.00 and gave the stock an “overweight” rating in a report on Thursday, July 19th. Jefferies Financial Group set a $88.00 price objective on shares of Anadarko Petroleum and gave the stock a “buy” rating in a report on Tuesday, August 7th. Finally, Zacks Investment Research downgraded shares of Anadarko Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Anadarko Petroleum has an average rating of “Buy” and a consensus price target of $79.60.
NYSE APC opened at $64.39 on Thursday. The firm has a market cap of $32.98 billion, a PE ratio of -32.85, a price-to-earnings-growth ratio of 2.20 and a beta of 1.27. Anadarko Petroleum Co. has a one year low of $40.54 and a one year high of $76.70. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.34.
Anadarko Petroleum (NYSE:APC) last released 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 business had revenue of $3.29 billion for 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 company’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.75) earnings per share. sell-side analysts forecast that Anadarko Petroleum Co. will post 2.93 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 26th. Stockholders of record on Wednesday, September 12th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Tuesday, September 11th. Anadarko Petroleum’s payout ratio is -51.02%.
Anadarko Petroleum announced that its board has approved a share buyback program on Monday, July 9th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the oil and gas development company to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Anadarko Petroleum Company 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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