Shikiar Asset Management Inc. Reduces Position in Anadarko Petroleum Corporation (APC)

Shikiar Asset Management Inc. lessened its position in shares of Anadarko Petroleum Corporation (NYSE:APC) by 58.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,100 shares of the oil and gas development company’s stock after selling 46,000 shares during the quarter. Shikiar Asset Management Inc.’s holdings in Anadarko Petroleum Corporation were worth $1,568,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Guardian Life Insurance Co. of America grew its stake in Anadarko Petroleum Corporation by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,156 shares of the oil and gas development company’s stock worth $134,000 after buying an additional 15 shares during the last quarter. Fifth Third Bancorp grew its stake in Anadarko Petroleum Corporation by 33.9% during the 1st quarter. Fifth Third Bancorp now owns 2,687 shares of the oil and gas development company’s stock worth $167,000 after buying an additional 680 shares during the last quarter. FNY Partners Fund LP grew its stake in Anadarko Petroleum Corporation by 2,900.0% during the 2nd 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 last quarter. Sun Life Financial INC grew its stake in Anadarko Petroleum Corporation by 1,363.4% during the 2nd 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 last quarter. Finally, Global X Management Co. LLC grew its stake in Anadarko Petroleum Corporation by 27.5% during the 1st quarter. Global X Management Co. LLC now owns 3,326 shares of the oil and gas development company’s stock worth $206,000 after buying an additional 718 shares during the last quarter. Hedge funds and other institutional investors own 85.01% of the company’s stock.

A number of research firms recently issued reports on APC. Mitsubishi UFJ Financial Group upgraded Anadarko Petroleum Corporation from a “neutral” rating to a “buy” rating and set a $66.00 price target on the stock in a research note on Thursday, July 27th. BidaskClub downgraded Anadarko Petroleum Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Stifel Nicolaus restated a “buy” rating and set a $78.00 price target (down previously from $80.00) on shares of Anadarko Petroleum Corporation in a research note on Tuesday, July 25th. Susquehanna Bancshares Inc assumed coverage on Anadarko Petroleum Corporation in a research note on Thursday, June 29th. They set a “positive” rating and a $60.00 price target on the stock. Finally, Barclays PLC increased their price objective on Anadarko Petroleum Corporation from $35.00 to $37.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 11th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $67.48.

Anadarko Petroleum Corporation (NYSE:APC) traded up 0.5237% during trading on Friday, reaching $48.9249. The company’s stock had a trading volume of 3,223,902 shares. Anadarko Petroleum Corporation has a 52 week low of $39.96 and a 52 week high of $73.33. The firm’s market capitalization is $27.42 billion. The firm has a 50-day moving average price of $46.29 and a 200-day moving average price of $48.59.

Anadarko Petroleum Corporation (NYSE:APC) last announced its quarterly earnings data on Monday, July 24th. The oil and gas development company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the company posted ($0.60) EPS. Anadarko Petroleum Corporation’s revenue was up 41.8% on a year-over-year basis. On average, equities analysts anticipate that Anadarko Petroleum Corporation will post ($2.05) EPS for the current fiscal year.

Anadarko Petroleum Corporation announced that its Board of Directors has approved a share repurchase plan on Wednesday, September 20th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the oil and gas development company to reacquire up to 10% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 13th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.41%. Anadarko Petroleum Corporation’s dividend payout ratio (DPR) is presently -5.14%.

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About Anadarko Petroleum Corporation

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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Institutional Ownership by Quarter for Anadarko Petroleum Corporation (NYSE:APC)

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