First Republic Investment Management Inc. lessened its stake in shares of Anadarko Petroleum Corporation (NYSE:APC) by 28.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 58,633 shares of the oil and gas development company’s stock after selling 23,352 shares during the quarter. First Republic Investment Management Inc.’s holdings in Anadarko Petroleum were worth $2,865,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its stake in Anadarko Petroleum by 4.5% in the second quarter. IFP Advisors Inc now owns 7,363 shares of the oil and gas development company’s stock worth $334,000 after acquiring an additional 320 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Anadarko Petroleum by 7.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,116,591 shares of the oil and gas development company’s stock worth $95,967,000 after acquiring an additional 141,126 shares during the period. First Trust Advisors LP lifted its stake in Anadarko Petroleum by 9.0% in the second quarter. First Trust Advisors LP now owns 225,108 shares of the oil and gas development company’s stock worth $10,206,000 after acquiring an additional 18,612 shares during the period. Advisors Asset Management Inc. lifted its stake in Anadarko Petroleum by 6.2% in the second quarter. Advisors Asset Management Inc. now owns 37,070 shares of the oil and gas development company’s stock worth $1,681,000 after acquiring an additional 2,156 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Anadarko Petroleum by 0.6% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 210,524 shares of the oil and gas development company’s stock worth $9,545,000 after acquiring an additional 1,207 shares during the period. 87.91% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on APC. Credit Suisse Group began coverage on Anadarko Petroleum in a research note on Monday. They issued a “buy” rating and a $61.00 price target for the company. Scotiabank set a $62.00 price target on Anadarko Petroleum and gave the stock a “buy” rating in a research note on Saturday, November 25th. Barclays raised their price target on Anadarko Petroleum from $37.00 to $39.00 and gave the stock an “underweight” rating in a research note on Monday, November 20th. BMO Capital Markets raised Anadarko Petroleum from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $53.00 to $57.00 in a research note on Friday, November 17th. Finally, Stifel Nicolaus dropped their price target on Anadarko Petroleum from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Wednesday, November 1st. Three research analysts have rated the stock with a sell rating, five have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $66.23.
Anadarko Petroleum (NYSE:APC) last issued its quarterly earnings results on Tuesday, October 31st. The oil and gas development company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.21). Anadarko Petroleum had a negative net margin of 17.13% and a negative return on equity of 9.82%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the business earned ($0.89) earnings per share. Anadarko Petroleum’s revenue was up 31.9% compared to the same quarter last year. research analysts anticipate that Anadarko Petroleum Corporation will post -2.24 earnings per share for the current fiscal year.
Anadarko Petroleum announced that its board has approved a stock repurchase program on Wednesday, September 20th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the oil and gas development company to purchase up to 10% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Wednesday, December 13th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.41%. Anadarko Petroleum’s payout ratio is presently -5.63%.
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Anadarko Petroleum 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.
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