Dowling & Yahnke LLC reduced its position in Anadarko Petroleum Co. (NYSE:APC) by 8.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,045 shares of the oil and gas development company’s stock after selling 2,397 shares during the period. Dowling & Yahnke LLC’s holdings in Anadarko Petroleum were worth $1,321,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Berkeley Capital Partners LLC purchased a new position in Anadarko Petroleum in the 3rd quarter worth approximately $965,000. Rational Advisors LLC purchased a new position in Anadarko Petroleum in the 3rd quarter worth approximately $578,000. Catalyst Capital Advisors LLC purchased a new position in Anadarko Petroleum in the 3rd quarter worth approximately $288,000. Quantbot Technologies LP raised its holdings in Anadarko Petroleum by 78.6% in the 3rd quarter. Quantbot Technologies LP now owns 121,433 shares of the oil and gas development company’s stock worth $5,932,000 after acquiring an additional 53,448 shares during the last quarter. Finally, NBT Bank N A NY purchased a new position in Anadarko Petroleum in the 3rd quarter worth approximately $203,000. Institutional investors own 88.68% of the company’s stock.
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A number of brokerages have weighed in on APC. BidaskClub lowered shares of Anadarko Petroleum from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. BMO Capital Markets upgraded shares of Anadarko Petroleum from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $53.00 to $57.00 in a research note on Friday. Stifel Nicolaus reiterated a “buy” rating and set a $77.00 target price (up from $76.00) on shares of Anadarko Petroleum in a research note on Monday, September 25th. Scotiabank set a $64.00 target price on shares of Anadarko Petroleum and gave the company a “buy” rating in a research note on Friday. Finally, Mitsubishi UFJ Financial Group upgraded shares of Anadarko Petroleum from a “neutral” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Anadarko Petroleum has a consensus rating of “Buy” and a consensus target price of $67.18.
Anadarko Petroleum (NYSE:APC) last announced its quarterly earnings results on Tuesday, October 31st. The oil and gas development company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.21). The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Anadarko Petroleum had a negative return on equity of 25.27% and a negative net margin of 24.56%. The firm’s revenue for the quarter was up 31.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.89) EPS. equities analysts expect that Anadarko Petroleum Co. will post -2.23 earnings per share for the current fiscal year.
The business also recently declared 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. This represents a $0.20 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Tuesday, December 12th. Anadarko Petroleum’s payout ratio is currently -5.65%.
Anadarko Petroleum announced that its Board of Directors has approved a stock repurchase program on Wednesday, September 20th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the oil and gas development company to reacquire up to 10% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
Anadarko Petroleum Company 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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