Covington Capital Management trimmed its position in Anadarko Petroleum Co. (NYSE:APC) by 30.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Flinton Capital Management LLC lifted its holdings in Anadarko Petroleum by 15.3% in the 4th quarter. Flinton Capital Management LLC now owns 21,012 shares of the oil and gas development company’s stock valued at $1,127,000 after purchasing an additional 2,788 shares in the last quarter. Meadow Creek Investment Management LLC increased its stake in shares of Anadarko Petroleum by 15.3% during the 4th quarter. Meadow Creek Investment Management LLC now owns 9,888 shares of the oil and gas development company’s stock valued at $530,000 after acquiring an additional 1,312 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Anadarko Petroleum by 7.2% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,454 shares of the oil and gas development company’s stock valued at $723,000 after acquiring an additional 906 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in shares of Anadarko Petroleum by 9.1% during the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 134,855 shares of the oil and gas development company’s stock valued at $7,233,000 after acquiring an additional 11,226 shares during the last quarter. Finally, Elkfork Partners LLC acquired a new position in shares of Anadarko Petroleum during the 4th quarter valued at about $928,000. Institutional investors own 88.00% of the company’s stock.
APC traded down $1.25 during trading hours on Friday, hitting $58.86. 10,749,711 shares of the stock were exchanged, compared to its average volume of 4,824,475. Anadarko Petroleum Co. has a 12 month low of $39.96 and a 12 month high of $63.55. The stock has a market capitalization of $32,007.80, a PE ratio of -30.03, a price-to-earnings-growth ratio of 3.53 and a beta of 1.27. 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 data on Tuesday, February 6th. The oil and gas development company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.15. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Anadarko Petroleum had a negative return on equity of 7.48% and a negative net margin of 3.83%. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period last year, the business posted ($0.50) earnings per share. research analysts anticipate that Anadarko Petroleum Co. will post 1.71 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.70%. This is a boost from Anadarko Petroleum’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, March 13th. Anadarko Petroleum’s dividend payout ratio (DPR) is presently -51.02%.
Anadarko Petroleum announced that its board has initiated a share repurchase plan on Wednesday, February 7th that authorizes the company to repurchase $500.00 million in outstanding 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 typically a sign that the company’s board believes its stock is undervalued.
APC has been the subject of a number of research analyst reports. Royal Bank of Canada set a $63.00 price objective on shares of Anadarko Petroleum and gave the company a “buy” rating in a research note on Wednesday, December 20th. Jefferies Group set a $61.00 target price on shares of Anadarko Petroleum and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Seaport Global Securities raised shares of Anadarko Petroleum from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 19th. Credit Suisse Group set a $71.00 target price on shares of Anadarko Petroleum and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, Cowen set a $70.00 target price on shares of Anadarko Petroleum and gave the stock a “buy” rating in a research report 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 given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $67.65.
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Anadarko Petroleum Profile
Anadarko Petroleum Corporation engages in the exploration, development, production, and marketing of oil and gas properties. It operates through three segments: Exploration and Production, WES Midstream, and Other Midstream. The company explores for and produces oil, natural gas, and natural gas liquids (NGLs).
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