Covington Capital Management reduced its position in Anadarko Petroleum Co. (NYSE:APC) by 30.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 15,941 shares of the oil and gas development company’s stock after selling 7,104 shares during the period. Covington Capital Management’s holdings in Anadarko Petroleum were worth $855,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Stelac Advisory Services LLC acquired a new stake in Anadarko Petroleum in the 3rd quarter valued at about $107,000. Steward Partners Investment Advisory LLC acquired a new stake in Anadarko Petroleum in the 3rd quarter valued at about $116,000. Cerebellum GP LLC acquired a new stake in Anadarko Petroleum in the 4th quarter valued at about $131,000. Resources Investment Advisors Inc. acquired a new stake in Anadarko Petroleum in the 4th quarter valued at about $142,000. Finally, Avestar Capital LLC acquired a new stake in Anadarko Petroleum in the 4th quarter valued at about $129,000. Institutional investors and hedge funds own 88.19% of the company’s stock.
Shares of Anadarko Petroleum Co. (APC) opened at $57.91 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 1.13. Anadarko Petroleum Co. has a 1 year low of $39.96 and a 1 year high of $64.17.
Anadarko Petroleum (NYSE:APC) last released its quarterly earnings results on Tuesday, February 6th. The oil and gas development company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.15. Anadarko Petroleum had a negative net margin of 3.83% and a negative return on equity of 7.48%. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the business earned ($0.50) earnings per share. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. equities analysts expect that Anadarko Petroleum Co. will post 1.56 EPS for the current fiscal year.
Anadarko Petroleum announced that its board has authorized a share repurchase plan on Wednesday, February 7th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the oil and gas development company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, March 14th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.73%. This is an increase from Anadarko Petroleum’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, March 13th. Anadarko Petroleum’s payout ratio is presently -123.46%.
Several equities research analysts have issued reports on APC shares. BMO Capital Markets upgraded shares of Anadarko Petroleum from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $53.00 to $57.00 in a research report on Friday, November 17th. Scotiabank set a $64.00 price objective on shares of Anadarko Petroleum and gave the stock a “buy” rating in a research report on Friday, November 17th. Barclays raised their price objective on shares of Anadarko Petroleum from $37.00 to $39.00 and gave the stock an “underweight” rating in a research report on Monday, November 20th. Credit Suisse Group started coverage on shares of Anadarko Petroleum in a research report on Monday, December 11th. They set an “outperform” rating and a $61.00 price objective for the company. Finally, Seaport Global Securities upgraded shares of Anadarko Petroleum from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $67.80.
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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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