PVG Asset Management Corp increased its position in Anadarko Petroleum Co. (NYSE:APC) by 32.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,180 shares of the oil and gas development company’s stock after purchasing an additional 14,090 shares during the quarter. Anadarko Petroleum makes up about 1.4% of PVG Asset Management Corp’s portfolio, making the stock its 26th biggest position. PVG Asset Management Corp’s holdings in Anadarko Petroleum were worth $3,121,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Stelac Advisory Services LLC bought a new position in Anadarko Petroleum in the third quarter worth approximately $107,000. Steward Partners Investment Advisory LLC bought a new position in Anadarko Petroleum in the third quarter worth approximately $116,000. Cerebellum GP LLC bought a new position in Anadarko Petroleum in the fourth quarter worth approximately $131,000. Resources Investment Advisors Inc. bought a new position in Anadarko Petroleum in the fourth quarter worth approximately $142,000. Finally, Avestar Capital LLC bought a new position in Anadarko Petroleum in the fourth quarter worth approximately $129,000. 87.99% of the stock is currently owned by institutional investors.
Shares of Anadarko Petroleum stock traded down $0.23 on Monday, hitting $58.30. The stock had a trading volume of 166,201 shares, compared to its average volume of 5,527,532. Anadarko Petroleum Co. has a 12-month low of $39.96 and a 12-month high of $64.15. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a market cap of $31,166.47, a price-to-earnings ratio of -72.26, a PEG ratio of 3.70 and a beta of 1.40.
Anadarko Petroleum announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 7th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the oil and gas development company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, March 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Tuesday, March 13th. This is a positive change from Anadarko Petroleum’s previous quarterly dividend of $0.05. Anadarko Petroleum’s dividend payout ratio is currently -123.46%.
Several research analysts recently issued reports on APC shares. Barclays increased their price objective on Anadarko Petroleum from $37.00 to $39.00 and gave the stock an “underweight” rating in a research note on Monday, November 20th. Scotiabank set a $62.00 price objective on Anadarko Petroleum and gave the stock a “buy” rating in a research note on Saturday, November 25th. Credit Suisse Group started coverage on Anadarko Petroleum in a research note on Monday, December 11th. They issued an “outperform” rating and a $61.00 price objective on the stock. Seaport Global Securities raised Anadarko Petroleum from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 19th. Finally, Piper Jaffray Companies initiated coverage on Anadarko Petroleum in a research report on Thursday, December 21st. They set an “overweight” rating and a $56.00 target price on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $67.80.
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About Anadarko Petroleum
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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