Tower Bridge Advisors reduced its holdings in Anadarko Petroleum Corporation (NYSE:APC) by 10.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,380 shares of the energy producer’s stock after selling 1,288 shares during the period. Tower Bridge Advisors’ holdings in Anadarko Petroleum Corporation were worth $556,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in APC. Dodge & Cox lifted its holdings in Anadarko Petroleum Corporation by 43.7% in the second quarter. Dodge & Cox now owns 32,794,208 shares of the energy producer’s stock valued at $1,486,889,000 after buying an additional 9,965,600 shares during the period. Franklin Resources Inc. lifted its holdings in Anadarko Petroleum Corporation by 106.6% in the second quarter. Franklin Resources Inc. now owns 14,394,958 shares of the energy producer’s stock valued at $652,661,000 after buying an additional 7,428,741 shares during the period. Janus Henderson Group PLC lifted its holdings in Anadarko Petroleum Corporation by 5,465.5% in the second quarter. Janus Henderson Group PLC now owns 4,182,014 shares of the energy producer’s stock valued at $189,613,000 after buying an additional 4,106,872 shares during the period. BlackRock Inc. lifted its holdings in Anadarko Petroleum Corporation by 8.2% in the second quarter. BlackRock Inc. now owns 45,766,435 shares of the energy producer’s stock valued at $2,075,051,000 after buying an additional 3,466,161 shares during the period. Finally, Boston Partners lifted its holdings in Anadarko Petroleum Corporation by 311.0% in the third quarter. Boston Partners now owns 3,651,098 shares of the energy producer’s stock valued at $178,356,000 after buying an additional 2,762,834 shares during the period. Institutional investors and hedge funds own 87.41% of the company’s stock.
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Shares of Anadarko Petroleum Corporation (APC) traded down C$0.29 during mid-day trading on Monday, reaching C$50.82. 2,410,827 shares of the company’s stock were exchanged, compared to its average volume of 4,967,705. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 1.11. Anadarko Petroleum Corporation has a 12-month low of C$39.96 and a 12-month high of C$73.33.
Anadarko Petroleum Corporation (NYSE:APC) last announced its quarterly earnings results on Tuesday, October 31st. The energy producer reported C($0.77) EPS for the quarter, missing analysts’ consensus estimates of C($0.56) by C($0.21). The firm had revenue of C$2.50 billion during the quarter, compared to analyst estimates of C$2.52 billion. Anadarko Petroleum Corporation had a negative net margin of 17.13% and a negative return on equity of 9.82%. The business’s revenue was up 31.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.89) EPS. equities research analysts predict that Anadarko Petroleum Corporation will post -2.23 earnings per share 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 permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the energy producer to buy up to 10% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Several brokerages recently weighed in on APC. Stifel Nicolaus cut their price objective on shares of Anadarko Petroleum Corporation from $73.00 to $72.00 and set a “buy” rating on the stock in a report on Wednesday, November 1st. Scotiabank restated a “buy” rating and issued a $62.00 price objective on shares of Anadarko Petroleum Corporation in a report on Wednesday, November 1st. Atlantic Securities upgraded shares of Anadarko Petroleum Corporation from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $49.05 to $62.00 in a report on Friday, October 6th. Morgan Stanley set a $55.00 target price on shares of Anadarko Petroleum Corporation and gave the company a “hold” rating in a research note on Wednesday, October 18th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $57.00 target price on shares of Anadarko Petroleum Corporation in a research note on Tuesday, October 10th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of C$66.77.
Anadarko Petroleum Corporation 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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