Patten & Patten Inc. TN Sells 35,715 Shares of Anadarko Petroleum Co. (NYSE:APC)

Patten & Patten Inc. TN lowered its position in shares of Anadarko Petroleum Co. (NYSE:APC) by 42.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,144 shares of the oil and gas development company’s stock after selling 35,715 shares during the quarter. Patten & Patten Inc. TN’s holdings in Anadarko Petroleum were worth $2,636,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Anadarko Petroleum by 0.8% during the second quarter. State Street Corp now owns 28,641,263 shares of the oil and gas development company’s stock worth $1,298,599,000 after buying an additional 218,628 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Anadarko Petroleum by 6.4% during the third quarter. JPMorgan Chase & Co. now owns 10,257,355 shares of the oil and gas development company’s stock worth $501,380,000 after buying an additional 619,056 shares during the period. Janus Henderson Group PLC boosted its position in shares of Anadarko Petroleum by 5,465.5% during the second quarter. Janus Henderson Group PLC now owns 4,182,014 shares of the oil and gas development company’s stock worth $189,613,000 after buying an additional 4,106,872 shares during the period. Boston Partners boosted its position in shares of Anadarko Petroleum by 311.0% during the third quarter. Boston Partners now owns 3,651,098 shares of the oil and gas development company’s stock worth $178,356,000 after buying an additional 2,762,834 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Anadarko Petroleum by 1.3% during the third quarter. Legal & General Group Plc now owns 2,739,511 shares of the oil and gas development company’s stock worth $133,823,000 after buying an additional 34,561 shares during the period. Institutional investors and hedge funds own 87.82% of the company’s stock.

Several research analysts have recently weighed in on the company. Zacks Investment Research raised Anadarko Petroleum from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Wednesday. Piper Jaffray Companies set a $72.00 price target on Anadarko Petroleum and gave the company a “buy” rating in a research report on Sunday. TheStreet raised Anadarko Petroleum from a “d+” rating to a “c” rating in a research report on Tuesday, February 6th. BMO Capital Markets increased their price target on Anadarko Petroleum from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Finally, Macquarie raised Anadarko Petroleum from a “neutral” rating to an “outperform” rating and set a $70.00 price target for the company in a research report on Thursday, February 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $68.19.

Anadarko Petroleum Co. (NYSE APC) traded up $2.60 during trading on Wednesday, reaching $59.78. The company’s stock had a trading volume of 5,780,000 shares, compared to its average volume of 6,080,000. Anadarko Petroleum Co. has a 12-month low of $39.96 and a 12-month high of $68.41. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.03 and a current ratio of 1.73. The company has a market cap of $32,710.00, a price-to-earnings ratio of -75.67, a PEG ratio of 8.89 and a beta of 1.42.

Anadarko Petroleum (NYSE:APC) last issued its earnings results on Tuesday, February 6th. The oil and gas development company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.15. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.90 billion. Anadarko Petroleum had a negative return on equity of 7.48% and a negative net margin of 3.83%. The company’s revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.50) EPS. equities analysts expect that Anadarko Petroleum Co. will post 0.65 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Tuesday, March 13th. This is an increase from Anadarko Petroleum’s previous quarterly dividend of $0.05. Anadarko Petroleum’s dividend payout ratio (DPR) is currently -25.32%.

Anadarko Petroleum announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the oil and gas development company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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About Anadarko Petroleum

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.

Institutional Ownership by Quarter for Anadarko Petroleum (NYSE:APC)

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