IBM Retirement Fund lowered its position in Anadarko Petroleum Co. (NYSE:APC) by 9.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,066 shares of the oil and gas development company’s stock after selling 1,261 shares during the period. IBM Retirement Fund’s holdings in Anadarko Petroleum were worth $729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Avestar Capital LLC bought a new stake in Anadarko Petroleum in the fourth quarter worth about $129,000. Resources Investment Advisors Inc. bought a new stake in Anadarko Petroleum in the fourth quarter worth about $142,000. Clear Perspective Advisors LLC lifted its stake 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 worth $172,000 after purchasing an additional 2,000 shares during the last quarter. Clearbridge LLC lifted its stake 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 worth $189,000 after purchasing an additional 1,742 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC bought a new stake in Anadarko Petroleum in the fourth quarter worth about $198,000. 89.21% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on the stock. Macquarie raised shares of Anadarko Petroleum from a “neutral” rating to an “outperform” rating and set a $70.00 price objective for the company in a research note on Thursday, February 8th. SunTrust Banks began coverage on shares of Anadarko Petroleum in a research report on Friday, May 18th. They set a “hold” rating and a $70.00 target price on the stock. Stifel Nicolaus set a $75.00 target price on shares of Anadarko Petroleum and gave the stock a “buy” rating in a research report on Wednesday, March 28th. Jefferies Group reaffirmed a “buy” rating and set a $78.00 target price on shares of Anadarko Petroleum in a research report on Thursday, February 8th. Finally, Zacks Investment Research raised shares of Anadarko Petroleum from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Wednesday, February 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company. Anadarko Petroleum currently has a consensus rating of “Buy” and a consensus target price of $67.60.
Anadarko Petroleum (NYSE:APC) last issued its quarterly earnings data on Tuesday, May 1st. The oil and gas development company reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.09. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.14 billion. Anadarko Petroleum had a negative net margin of 0.15% and a negative return on equity of 3.44%. Anadarko Petroleum’s revenue was down 19.2% compared to the same quarter last year. During the same period last year, the company posted ($0.60) earnings per share. sell-side analysts anticipate that Anadarko Petroleum Co. will post 2.68 earnings per share for the current fiscal year.
The firm 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.48%. The ex-dividend date is Tuesday, June 12th. Anadarko Petroleum’s payout ratio is -51.02%.
Anadarko Petroleum declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 7th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the oil and gas development company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
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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