Carret Asset Management LLC trimmed its stake in shares of Anadarko Petroleum Corporation (NYSE:APC) by 8.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,923 shares of the oil and gas development company’s stock after selling 4,500 shares during the quarter. Carret Asset Management LLC’s holdings in Anadarko Petroleum were worth $2,536,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in APC. Acadian Asset Management LLC acquired a new position in Anadarko Petroleum during the 2nd quarter worth approximately $1,133,000. Daiwa Securities Group Inc. increased its position in Anadarko Petroleum by 3.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 16,200 shares of the oil and gas development company’s stock worth $735,000 after purchasing an additional 600 shares in the last quarter. IFP Advisors Inc increased its position in Anadarko Petroleum by 4.5% during the 2nd quarter. IFP Advisors Inc now owns 7,363 shares of the oil and gas development company’s stock worth $334,000 after purchasing an additional 320 shares in the last quarter. Cigna Investments Inc. New increased its position in Anadarko Petroleum by 9.8% during the 2nd quarter. Cigna Investments Inc. New now owns 25,343 shares of the oil and gas development company’s stock worth $1,149,000 after purchasing an additional 2,261 shares in the last quarter. Finally, Trexquant Investment LP increased its position in Anadarko Petroleum by 23.7% during the 2nd quarter. Trexquant Investment LP now owns 18,932 shares of the oil and gas development company’s stock worth $858,000 after purchasing an additional 3,625 shares in the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.
APC has been the subject of a number of research analyst reports. Stifel Nicolaus reiterated a “buy” rating on shares of Anadarko Petroleum in a research report on Sunday, September 3rd. Jefferies Group set a $62.00 price target on shares of Anadarko Petroleum and gave the company a “buy” rating in a research report on Monday, August 28th. BMO Capital Markets restated a “hold” rating and issued a $53.00 price target on shares of Anadarko Petroleum in a research report on Monday, September 4th. Barclays upped their price target on shares of Anadarko Petroleum from $35.00 to $37.00 and gave the company an “underweight” rating in a research report on Wednesday, October 11th. Finally, Scotiabank restated a “buy” rating and issued a $62.00 price target on shares of Anadarko Petroleum in a research report on Wednesday, November 1st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Anadarko Petroleum has an average rating of “Buy” and an average price target of $67.18.
Anadarko Petroleum (NYSE:APC) last issued its earnings results on Tuesday, October 31st. The oil and gas development company reported ($0.77) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by ($0.21). The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.52 billion. Anadarko Petroleum had a negative return on equity of 9.82% and a negative net margin of 17.13%. The firm’s revenue was up 31.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.89) earnings per share. sell-side analysts expect that Anadarko Petroleum Corporation will post -2.24 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Investors of record on Wednesday, December 13th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Tuesday, December 12th. Anadarko Petroleum’s dividend payout ratio is presently -5.63%.
Anadarko Petroleum declared that its Board of Directors has initiated a stock buyback program on Wednesday, September 20th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the oil and gas development company to purchase up to 10% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
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About Anadarko Petroleum
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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