Metropolitan Life Insurance Co. NY lowered its stake in Anadarko Petroleum Co. (NYSE:APC) by 68.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 84,771 shares of the oil and gas development company’s stock after selling 180,436 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Anadarko Petroleum were worth $4,547,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Mackenzie Financial Corp purchased a new position in shares of Anadarko Petroleum during the 4th quarter worth $55,469,000. Dimensional Fund Advisors LP lifted its stake in shares of Anadarko Petroleum by 2.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,582,421 shares of the oil and gas development company’s stock worth $126,152,000 after purchasing an additional 63,165 shares during the period. American International Group Inc. lifted its stake in shares of Anadarko Petroleum by 2.9% during the 4th quarter. American International Group Inc. now owns 217,022 shares of the oil and gas development company’s stock worth $11,641,000 after purchasing an additional 6,123 shares during the period. MANA Advisors LLC purchased a new position in shares of Anadarko Petroleum during the 4th quarter worth $607,000. Finally, TIAA CREF Investment Management LLC lifted its stake in shares of Anadarko Petroleum by 0.9% during the 4th quarter. TIAA CREF Investment Management LLC now owns 2,102,084 shares of the oil and gas development company’s stock worth $112,756,000 after purchasing an additional 18,336 shares during the period. 87.99% of the stock is currently owned by institutional investors.
A number of research analysts have weighed in on APC shares. Scotiabank set a $62.00 price target on Anadarko Petroleum and gave the stock a “buy” rating in a research note on Saturday, November 25th. Zacks Investment Research lowered Anadarko Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, February 16th. Piper Jaffray Companies set a $74.00 price target on Anadarko Petroleum and gave the stock a “buy” rating in a research note on Wednesday, March 14th. Credit Suisse Group set a $71.00 price target on Anadarko Petroleum and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, Cowen set a $70.00 price target on Anadarko Petroleum and gave the stock a “buy” rating in a research note on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $67.70.
Shares of Anadarko Petroleum Co. (NYSE APC) opened at $57.02 on Tuesday. Anadarko Petroleum Co. has a twelve month low of $39.96 and a twelve month high of $64.15. The stock has a market capitalization of $31,166.47, a price-to-earnings ratio of -70.39, a P/E/G ratio of 3.70 and a beta of 1.40. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.73 and a quick ratio of 1.73.
Anadarko Petroleum (NYSE:APC) last announced its quarterly earnings results on Tuesday, February 6th. The oil and gas development company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.15. Anadarko Petroleum had a negative return on equity of 7.48% and a negative net margin of 3.83%. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the prior year, the firm earned ($0.50) EPS. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. equities analysts anticipate that Anadarko Petroleum Co. will post 1.58 earnings per share for the current year.
Anadarko Petroleum announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 7th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the oil and gas development company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 14th will be issued a $0.25 dividend. This is an increase from Anadarko Petroleum’s previous quarterly dividend of $0.05. This represents a $1.00 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Tuesday, March 13th. Anadarko Petroleum’s dividend payout ratio is currently -123.46%.
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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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