Prudential Financial Inc. cut its stake in Anadarko Petroleum Co. (NYSE:APC) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,066,608 shares of the oil and gas development company’s stock after selling 33,270 shares during the period. Prudential Financial Inc. owned 0.38% of Anadarko Petroleum worth $100,954,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Fis Group Inc. acquired a new stake in Anadarko Petroleum in the third quarter worth $107,000. Stelac Advisory Services LLC acquired a new stake in Anadarko Petroleum in the third quarter worth $107,000. Steward Partners Investment Advisory LLC acquired a new stake in Anadarko Petroleum in the third quarter worth $116,000. Sun Life Financial INC increased its position in Anadarko Petroleum by 1,363.4% in the second quarter. Sun Life Financial INC now owns 3,000 shares of the oil and gas development company’s stock worth $136,000 after buying an additional 2,795 shares during the period. Finally, FNY Partners Fund LP increased its position in Anadarko Petroleum by 2,900.0% in the second quarter. FNY Partners Fund LP now owns 3,000 shares of the oil and gas development company’s stock worth $136,000 after buying an additional 2,900 shares during the period. 87.76% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on the company. Citigroup lowered Anadarko Petroleum from a “buy” rating to a “neutral” rating and set a $60.00 target price on the stock. in a research report on Wednesday. Barclays raised their price target on Anadarko Petroleum from $39.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, December 21st. Royal Bank of Canada set a $63.00 price target on Anadarko Petroleum and gave the company a “buy” rating in a report on Wednesday, December 20th. Jefferies Group set a $61.00 price target on Anadarko Petroleum and gave the company a “buy” rating in a report on Wednesday, December 20th. Finally, Piper Jaffray Companies initiated coverage on Anadarko Petroleum in a report on Thursday, December 21st. They set an “overweight” rating and a $56.00 price target on the stock. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and nineteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $64.62.
Anadarko Petroleum (NYSE:APC) last released its earnings results on Tuesday, October 31st. The oil and gas development company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.21). The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.52 billion. Anadarko Petroleum had a negative return on equity of 9.82% and a negative net margin of 17.13%. Anadarko Petroleum’s revenue was up 31.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.89) earnings per share. analysts anticipate that Anadarko Petroleum Co. will post -2.21 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 27th. Investors of record on Wednesday, December 13th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date was Tuesday, December 12th. Anadarko Petroleum’s payout ratio is currently -5.65%.
Anadarko Petroleum declared that its board has initiated a share repurchase program on Wednesday, September 20th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the oil and gas development company to repurchase up to 10% of its shares through open market purchases. Shares buyback programs are usually 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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