DnB Asset Management AS Purchases 218,300 Shares of Anadarko Petroleum Corporation (NYSE:APC)

DnB Asset Management AS boosted its stake in Anadarko Petroleum Corporation (NYSE:APC) by 11.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,125,197 shares of the oil and gas development company’s stock after buying an additional 218,300 shares during the period. Anadarko Petroleum Corporation makes up 1.4% of DnB Asset Management AS’s portfolio, making the stock its 14th largest position. DnB Asset Management AS owned 0.38% of Anadarko Petroleum Corporation worth $96,356,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in APC. Clean Yield Group bought a new stake in Anadarko Petroleum Corporation during the first quarter worth $105,000. Assetmark Inc. raised its stake in shares of Anadarko Petroleum Corporation by 10.7% in the first quarter. Assetmark Inc. now owns 1,815 shares of the oil and gas development company’s stock valued at $113,000 after buying an additional 176 shares in the last quarter. Winch Advisory Services LLC raised its stake in shares of Anadarko Petroleum Corporation by 501.9% in the first quarter. Winch Advisory Services LLC now owns 2,167 shares of the oil and gas development company’s stock valued at $126,000 after buying an additional 1,807 shares in the last quarter. Guardian Life Insurance Co. of America raised its stake in shares of Anadarko Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,156 shares of the oil and gas development company’s stock valued at $134,000 after buying an additional 15 shares in the last quarter. Finally, Financial Architects Inc raised its stake in shares of Anadarko Petroleum Corporation by 31.6% in the first quarter. Financial Architects Inc now owns 2,290 shares of the oil and gas development company’s stock valued at $142,000 after buying an additional 550 shares in the last quarter. 84.70% of the stock is currently owned by institutional investors.

Anadarko Petroleum Corporation (NYSE:APC) opened at 44.89 on Friday. The company’s 50 day moving average is $45.16 and its 200-day moving average is $56.70. Anadarko Petroleum Corporation has a 52 week low of $42.58 and a 52 week high of $73.33. The firm’s market cap is $25.15 billion.

Anadarko Petroleum Corporation (NYSE:APC) last issued its earnings results on Monday, July 24th. The oil and gas development company reported ($0.77) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.35) by $0.42. Anadarko Petroleum Corporation had a negative net margin of 19.31% and a negative return on equity of 9.71%. The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the business posted ($0.60) EPS. The business’s revenue was up 41.8% on a year-over-year basis. Equities analysts expect that Anadarko Petroleum Corporation will post ($2.11) earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 13th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Tuesday, September 12th. Anadarko Petroleum Corporation’s dividend payout ratio is presently -5.14%.

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Several analysts have recently commented on APC shares. BMO Capital Markets increased their price objective on Anadarko Petroleum Corporation from $50.00 to $53.00 and gave the company a “market perform” rating in a report on Friday, July 14th. Morgan Stanley lowered Anadarko Petroleum Corporation from an “overweight” rating to an “equal weight” rating and set a $74.00 price objective for the company. in a report on Wednesday, May 3rd. Wells Fargo & Co restated a “market perform” rating and issued a $48.00 target price (down previously from $55.00) on shares of Anadarko Petroleum Corporation in a research note on Saturday, July 22nd. Scotiabank restated a “buy” rating and issued a $66.00 target price on shares of Anadarko Petroleum Corporation in a research note on Friday, June 30th. Finally, BidaskClub upgraded Anadarko Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 4th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $69.81.

In other news, Director Anthony R. Chase purchased 1,905 shares of the stock in a transaction that occurred on Thursday, May 18th. The stock was acquired at an average cost of $52.48 per share, with a total value of $99,974.40. Following the acquisition, the director now owns 23,636 shares in the company, valued at $1,240,417.28. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman R A. Walker purchased 19,300 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were purchased at an average cost of $51.82 per share, with a total value of $1,000,126.00. Following the completion of the acquisition, the chairman now owns 176,718 shares in the company, valued at approximately $9,157,526.76. The disclosure for this purchase can be found here. In the last three months, insiders bought 41,205 shares of company stock worth $2,136,700. Insiders own 0.45% of the company’s stock.

Anadarko Petroleum Corporation Company Profile

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.