BB&T Corp Cuts Position in Anadarko Petroleum Corporation (NYSE:APC)

BB&T Corp cut its position in shares of Anadarko Petroleum Corporation (NYSE:APC) by 4.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,728 shares of the oil and gas development company’s stock after selling 1,116 shares during the period. BB&T Corp’s holdings in Anadarko Petroleum Corporation were worth $1,212,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quantitative Investment Management LLC increased its stake in shares of Anadarko Petroleum Corporation by 1,683.1% in the first quarter. Quantitative Investment Management LLC now owns 148,000 shares of the oil and gas development company’s stock worth $9,176,000 after buying an additional 139,700 shares during the last quarter. Homrich & Berg increased its stake in shares of Anadarko Petroleum Corporation by 46.2% in the first quarter. Homrich & Berg now owns 9,045 shares of the oil and gas development company’s stock worth $561,000 after buying an additional 2,857 shares during the last quarter. Amalgamated Bank increased its stake in shares of Anadarko Petroleum Corporation by 8.9% in the first quarter. Amalgamated Bank now owns 34,693 shares of the oil and gas development company’s stock worth $2,151,000 after buying an additional 2,829 shares during the last quarter. Airain ltd increased its stake in shares of Anadarko Petroleum Corporation by 135.9% in the first quarter. Airain ltd now owns 70,968 shares of the oil and gas development company’s stock worth $4,400,000 after buying an additional 40,878 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its stake in shares of Anadarko Petroleum Corporation by 134.7% in the first quarter. Rafferty Asset Management LLC now owns 20,800 shares of the oil and gas development company’s stock worth $1,290,000 after buying an additional 11,937 shares during the last quarter. 84.56% of the stock is currently owned by institutional investors and hedge funds.

Shares of Anadarko Petroleum Corporation (NYSE:APC) opened at 44.89 on Monday. Anadarko Petroleum Corporation has a one year low of $42.58 and a one year high of $73.33. The firm has a 50-day moving average price of $45.16 and a 200-day moving average price of $56.70. The stock’s market cap is $25.15 billion.

Anadarko Petroleum Corporation (NYSE:APC) last released its quarterly earnings results on Monday, July 24th. The oil and gas development company reported ($0.77) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by $0.42. The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.50 billion. Anadarko Petroleum Corporation had a negative net margin of 19.31% and a negative return on equity of 9.71%. The firm’s quarterly revenue was up 41.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.60) EPS. Analysts anticipate that Anadarko Petroleum Corporation will post ($2.11) earnings per share for the current fiscal year.

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

A number of brokerages have commented on APC. Citigroup Inc. cut their price target on Anadarko Petroleum Corporation from $85.00 to $60.00 and set a “buy” rating for the company in a report on Friday, July 21st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $81.00 price target (up previously from $77.00) on shares of Anadarko Petroleum Corporation in a report on Friday, May 12th. Royal Bank Of Canada set a $84.00 price target on Anadarko Petroleum Corporation and gave the company a “buy” rating in a report on Thursday, April 20th. Jefferies Group LLC set a $62.00 price target on Anadarko Petroleum Corporation and gave the company a “buy” rating in a report on Tuesday, June 6th. Finally, Barclays PLC cut Anadarko Petroleum Corporation from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $52.00 to $42.00 in a research note on Wednesday, June 14th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $69.81.

In related news, Director Peter J. Fluor acquired 20,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were bought at an average cost of $51.83 per share, with a total value of $1,036,600.00. Following the completion of the transaction, the director now directly owns 146,750 shares of the company’s stock, valued at $7,606,052.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman R A. Walker acquired 19,300 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was bought at an average cost of $51.82 per share, for a total transaction of $1,000,126.00. Following the completion of the transaction, the chairman now directly owns 176,718 shares of the company’s stock, valued at $9,157,526.76. The disclosure for this purchase can be found here. Insiders have purchased 41,205 shares of company stock valued at $2,136,700 in the last 90 days. 0.45% of the stock is currently owned by corporate insiders.

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.