Pinebridge Investments L.P. trimmed its stake in shares of Anadarko Petroleum Co. (NYSE:APC) by 14.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,707 shares of the oil and gas development company’s stock after selling 8,252 shares during the quarter. Pinebridge Investments L.P.’s holdings in Anadarko Petroleum were worth $3,495,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of Anadarko Petroleum by 46.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,941,486 shares of the oil and gas development company’s stock worth $581,714,000 after buying an additional 2,536,173 shares during the last quarter. Boston Partners lifted its position in shares of Anadarko Petroleum by 63.1% in the 1st quarter. Boston Partners now owns 7,176,573 shares of the oil and gas development company’s stock worth $433,537,000 after buying an additional 2,777,166 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Anadarko Petroleum by 2.2% in the 1st quarter. Prudential Financial Inc. now owns 3,314,744 shares of the oil and gas development company’s stock worth $200,244,000 after buying an additional 71,406 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Anadarko Petroleum by 14.7% in the 2nd quarter. Jennison Associates LLC now owns 2,937,066 shares of the oil and gas development company’s stock worth $215,140,000 after acquiring an additional 377,398 shares during the period. Finally, Epoch Investment Partners Inc. increased its holdings in shares of Anadarko Petroleum by 38.2% in the 1st quarter. Epoch Investment Partners Inc. now owns 2,760,910 shares of the oil and gas development company’s stock worth $166,787,000 after acquiring an additional 762,465 shares during the period. Hedge funds and other institutional investors own 86.28% of the company’s stock.
Shares of APC opened at $63.65 on Monday. The company has a market capitalization of $32.59 billion, a PE ratio of -32.47, a price-to-earnings-growth ratio of 2.15 and a beta of 1.27. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.85 and a current ratio of 0.85. Anadarko Petroleum Co. has a 12-month low of $39.96 and a 12-month high of $76.70.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 26th. Investors of record on Wednesday, September 12th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, September 11th. Anadarko Petroleum’s dividend payout ratio is currently -51.02%.
Anadarko Petroleum announced that its board has approved a stock repurchase program on Monday, July 9th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the oil and gas development company to repurchase up to 2.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.
APC has been the topic of a number of analyst reports. Bank of America set a $100.00 price objective on shares of Anadarko Petroleum and gave the stock a “buy” rating in a report on Tuesday, July 31st. Mizuho initiated coverage on shares of Anadarko Petroleum in a report on Monday, July 23rd. They issued a “buy” rating and a $102.00 price objective on the stock. Mitsubishi UFJ Financial Group increased their price objective on shares of Anadarko Petroleum to $92.00 and gave the stock an “overweight” rating in a report on Thursday, July 19th. Zacks Investment Research cut shares of Anadarko Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Finally, Morgan Stanley initiated coverage on shares of Anadarko Petroleum in a report on Thursday, July 12th. They issued an “equal weight” rating and a $86.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the stock. Anadarko Petroleum presently has a consensus rating of “Buy” and a consensus price target of $78.15.
Anadarko Petroleum 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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