Lateef Investment Management L.P. purchased a new position in shares of Anadarko Petroleum (NYSE:APC) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 419,121 shares of the oil and gas development company’s stock, valued at approximately $25,319,000. Anadarko Petroleum comprises about 3.3% of Lateef Investment Management L.P.’s holdings, making the stock its 17th largest holding.
Several other hedge funds and other institutional investors have also recently made changes to their positions in APC. BLB&B Advisors LLC acquired a new stake in shares of Anadarko Petroleum during the 4th quarter worth approximately $201,000. National Pension Service increased its holdings in shares of Anadarko Petroleum by 8.6% during the 4th quarter. National Pension Service now owns 538,912 shares of the oil and gas development company’s stock worth $28,907,000 after buying an additional 42,519 shares during the last quarter. Creative Planning increased its holdings in shares of Anadarko Petroleum by 28.4% during the 4th quarter. Creative Planning now owns 95,475 shares of the oil and gas development company’s stock worth $5,121,000 after buying an additional 21,117 shares during the last quarter. Koshinski Asset Management Inc. acquired a new stake in shares of Anadarko Petroleum during the 4th quarter worth approximately $651,000. Finally, Gulf International Bank UK Ltd increased its holdings in shares of Anadarko Petroleum by 2.3% during the 4th quarter. Gulf International Bank UK Ltd now owns 175,296 shares of the oil and gas development company’s stock worth $9,402,000 after buying an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 91.33% of the company’s stock.
A number of brokerages have recently issued reports on APC. Stifel Nicolaus cut their price target on shares of Anadarko Petroleum from $73.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, May 2nd. Zacks Investment Research cut shares of Anadarko Petroleum from a “buy” rating to a “hold” rating in a research report on Thursday, May 10th. Wolfe Research raised shares of Anadarko Petroleum from a “market perform” rating to an “outperform” rating in a research report on Wednesday. Jefferies Group set a $77.00 price objective on shares of Anadarko Petroleum and gave the stock a “buy” rating in a research report on Wednesday, April 25th. Finally, Morgan Stanley increased their price objective on shares of Anadarko Petroleum from $55.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have assigned a buy rating to the stock. Anadarko Petroleum presently has an average rating of “Buy” and an average price target of $67.47.
Anadarko Petroleum (NYSE:APC) last issued its quarterly earnings results on Tuesday, May 1st. The oil and gas development company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.09. Anadarko Petroleum had a negative net margin of 0.15% and a negative return on equity of 3.44%. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the company posted ($0.60) EPS. The firm’s revenue was down 19.2% compared to the same quarter last year. research analysts anticipate that Anadarko Petroleum will post 2.41 EPS for the current fiscal year.
Anadarko Petroleum announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 7th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the oil and gas development company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 27th. Shareholders of record on Wednesday, June 13th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 12th. This represents a $1.00 annualized dividend and a yield of 1.42%. Anadarko Petroleum’s dividend payout ratio is presently -51.02%.
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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