Oppenheimer Asset Management Inc. raised its stake in Anadarko Petroleum Co. (NYSE:APC) by 16.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,733 shares of the oil and gas development company’s stock after purchasing an additional 8,687 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Anadarko Petroleum were worth $3,790,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in APC. Avestar Capital LLC purchased a new position in Anadarko Petroleum in the fourth quarter valued at about $129,000. Resources Investment Advisors Inc. purchased a new position in Anadarko Petroleum in the fourth quarter valued at about $142,000. Clear Perspective Advisors LLC raised its position in Anadarko Petroleum by 166.7% in the fourth quarter. Clear Perspective Advisors LLC now owns 3,200 shares of the oil and gas development company’s stock valued at $172,000 after purchasing an additional 2,000 shares during the period. Clearbridge LLC raised its position in Anadarko Petroleum by 97.9% in the fourth quarter. Clearbridge LLC now owns 3,522 shares of the oil and gas development company’s stock valued at $189,000 after purchasing an additional 1,742 shares during the period. Finally, Prime Capital Investment Advisors LLC purchased a new position in Anadarko Petroleum in the fourth quarter valued at about $198,000. 89.21% of the stock is currently owned by institutional investors.
Shares of Anadarko Petroleum opened at $67.59 on Friday, Marketbeat.com reports. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market capitalization of $35.57 billion, a P/E ratio of -34.48, a PEG ratio of 2.58 and a beta of 1.26. Anadarko Petroleum Co. has a fifty-two week low of $39.96 and a fifty-two week high of $72.70.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 27th. Investors of record on Wednesday, June 13th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.48%. The ex-dividend date is Tuesday, June 12th. Anadarko Petroleum’s dividend payout ratio is currently -51.02%.
Anadarko Petroleum announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 7th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the oil and gas development company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Several research analysts have commented on APC shares. TheStreet raised Anadarko Petroleum from a “d+” rating to a “c” rating in a research report on Tuesday, February 6th. Jefferies Group set a $76.00 price objective on Anadarko Petroleum and gave the company a “buy” rating in a research report on Monday, March 19th. BMO Capital Markets lifted their target price on Anadarko Petroleum from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. ValuEngine raised Anadarko Petroleum from a “sell” rating to a “hold” rating in a research report on Saturday, April 21st. Finally, UBS started coverage on Anadarko Petroleum in a research report on Wednesday, March 7th. They set a “buy” rating and a $74.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $67.60.
Anadarko Petroleum Company Profile
Anadarko Petroleum Corporation engages in the exploration, development, production, and marketing of oil and gas properties. It operates through three segments: Exploration and Production, WES Midstream, and Other Midstream. The company explores for and produces oil, natural gas, and natural gas liquids (NGLs).
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