Seven Eight Capital LP boosted its holdings in shares of Anadarko Petroleum Co. (NYSE:APC) by 2,646.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 111,355 shares of the oil and gas development company’s stock after acquiring an additional 107,300 shares during the quarter. Seven Eight Capital LP’s holdings in Anadarko Petroleum were worth $7,506,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. TRUE Private Wealth Advisors bought a new position in Anadarko Petroleum during the third quarter valued at approximately $163,000. Moneta Group Investment Advisors LLC bought a new position in Anadarko Petroleum during the second quarter valued at approximately $170,000. NN Investment Partners Holdings N.V. bought a new position in Anadarko Petroleum during the second quarter valued at approximately $182,000. Kiley Juergens Wealth Management LLC bought a new position in Anadarko Petroleum during the second quarter valued at approximately $182,000. Finally, Lido Advisors LLC bought a new position in Anadarko Petroleum during the second quarter valued at approximately $202,000. 86.08% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently weighed in on APC shares. Johnson Rice lowered shares of Anadarko Petroleum from a “buy” rating to an “accumulate” rating in a research report on Wednesday, August 15th. Stifel Nicolaus raised their price objective on shares of Anadarko Petroleum from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, July 10th. Credit Suisse Group set a $84.00 price objective on shares of Anadarko Petroleum and gave the company a “buy” rating in a research report on Monday, July 9th. ValuEngine raised shares of Anadarko Petroleum from a “hold” rating to a “buy” rating in a research report on Friday, June 22nd. Finally, Seaport Global Securities reiterated a “buy” rating on shares of Anadarko Petroleum in a report on Wednesday, July 25th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $81.37.
Anadarko Petroleum (NYSE:APC) last announced its quarterly earnings results on Tuesday, July 31st. The oil and gas development company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.06). Anadarko Petroleum had a net margin of 3.63% and a return on equity of 1.85%. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the business earned ($0.75) EPS. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. On average, sell-side analysts anticipate that Anadarko Petroleum Co. will post 3 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 26th. Stockholders of record on Wednesday, September 12th were paid a $0.25 dividend. The ex-dividend date was Tuesday, September 11th. This represents a $1.00 annualized dividend and a dividend yield of 1.50%. Anadarko Petroleum’s payout ratio is -51.02%.
Anadarko Petroleum announced that its Board of Directors has initiated a stock repurchase program on Monday, July 9th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas development company to buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management 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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