Cornerstone Capital Management Holdings LLC. trimmed its holdings in Anadarko Petroleum Corporation (NYSE:APC) by 9.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 123,629 shares of the oil and gas development company’s stock after selling 12,207 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Anadarko Petroleum were worth $6,038,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the business. BlackRock Inc. grew its stake in Anadarko Petroleum by 8.2% in the second quarter. BlackRock Inc. now owns 45,766,435 shares of the oil and gas development company’s stock valued at $2,075,051,000 after acquiring an additional 3,466,161 shares during the period. Vanguard Group Inc. grew its stake in Anadarko Petroleum by 2.6% in the second quarter. Vanguard Group Inc. now owns 39,870,873 shares of the oil and gas development company’s stock valued at $1,807,745,000 after acquiring an additional 999,933 shares during the period. Dodge & Cox grew its stake in Anadarko Petroleum by 43.7% in the second quarter. Dodge & Cox now owns 32,794,208 shares of the oil and gas development company’s stock valued at $1,486,889,000 after acquiring an additional 9,965,600 shares during the period. State Street Corp grew its stake in Anadarko Petroleum by 0.8% in the second quarter. State Street Corp now owns 28,641,263 shares of the oil and gas development company’s stock valued at $1,298,599,000 after acquiring an additional 218,628 shares during the period. Finally, Franklin Resources Inc. grew its stake in Anadarko Petroleum by 106.6% in the second quarter. Franklin Resources Inc. now owns 14,394,958 shares of the oil and gas development company’s stock valued at $652,661,000 after acquiring an additional 7,428,741 shares during the period. 87.91% of the stock is owned by hedge funds and other institutional investors.
Shares of Anadarko Petroleum Corporation (APC) opened at $47.89 on Friday. 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 52 week low of $39.96 and a 52 week high of $72.32.
Anadarko Petroleum (NYSE:APC) last released its quarterly earnings data on Tuesday, October 31st. The oil and gas development company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.21). The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.52 billion. Anadarko Petroleum had a negative net margin of 17.13% and a negative return on equity of 9.82%. Anadarko Petroleum’s quarterly revenue was up 31.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.89) EPS. analysts predict that Anadarko Petroleum Corporation will post -2.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Wednesday, December 13th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, December 12th. This represents a $0.20 annualized dividend and a yield of 0.42%. Anadarko Petroleum’s dividend payout ratio is -5.63%.
Anadarko Petroleum announced that its board has initiated a stock repurchase plan on Wednesday, September 20th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the oil and gas development company to reacquire up to 10% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
A number of research analysts have issued reports on APC shares. Scotiabank set a $62.00 target price on Anadarko Petroleum and gave the company a “buy” rating in a research note on Saturday, November 25th. Royal Bank of Canada reissued a “buy” rating and issued a $62.00 target price on shares of Anadarko Petroleum in a research note on Friday, September 29th. BMO Capital Markets reissued a “hold” rating and issued a $53.00 target price on shares of Anadarko Petroleum in a research note on Monday, September 4th. Citigroup reduced their price objective on Anadarko Petroleum from $60.00 to $58.00 and set a “buy” rating for the company in a research report on Friday, October 13th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $57.00 price objective on shares of Anadarko Petroleum in a research report on Tuesday, October 10th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and nineteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $65.52.
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Anadarko Petroleum 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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