Gabelli Funds LLC cut its holdings in shares of Anadarko Petroleum Co. (NYSE:APC) by 0.7% in the 1st quarter, Holdings Channel reports. The firm owned 595,757 shares of the oil and gas development company’s stock after selling 4,343 shares during the period. Gabelli Funds LLC’s holdings in Anadarko Petroleum were worth $35,990,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Wedbush Securities Inc. lifted its stake in Anadarko Petroleum by 15.7% during the first quarter. Wedbush Securities Inc. now owns 5,623 shares of the oil and gas development company’s stock valued at $340,000 after purchasing an additional 763 shares during the last quarter. Oxbow Advisors LLC lifted its stake in Anadarko Petroleum by 1.9% during the first quarter. Oxbow Advisors LLC now owns 40,993 shares of the oil and gas development company’s stock valued at $2,476,000 after purchasing an additional 764 shares during the last quarter. Seaward Management Limited Partnership lifted its stake in Anadarko Petroleum by 17.5% during the fourth quarter. Seaward Management Limited Partnership now owns 5,764 shares of the oil and gas development company’s stock valued at $309,000 after purchasing an additional 860 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in Anadarko Petroleum by 1.9% during the fourth quarter. OppenheimerFunds Inc. now owns 49,686 shares of the oil and gas development company’s stock valued at $2,665,000 after purchasing an additional 906 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in Anadarko Petroleum by 7.2% during the fourth 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 purchasing an additional 906 shares during the last quarter. 89.21% of the stock is owned by institutional investors and hedge funds.
Several analysts recently commented on the stock. SunTrust Banks assumed coverage on shares of Anadarko Petroleum in a research note on Friday, May 18th. They set a “hold” rating and a $70.00 target price for the company. Wolfe Research raised shares of Anadarko Petroleum from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 16th. Zacks Investment Research lowered shares of Anadarko Petroleum from a “buy” rating to a “hold” rating in a research note on Thursday, May 10th. Stifel Nicolaus cut their target price on shares of Anadarko Petroleum from $73.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, May 2nd. Finally, Jefferies Group set a $77.00 target price on shares of Anadarko Petroleum and gave the company a “buy” rating in a research note on Wednesday, April 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $67.60.
Anadarko Petroleum stock opened at $70.33 on Thursday. The company has a market capitalization of $36.32 billion, a price-to-earnings ratio of -35.88, a P/E/G ratio of 2.65 and a beta of 1.26. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.33. Anadarko Petroleum Co. has a twelve month low of $39.96 and a twelve month high of $72.70.
Anadarko Petroleum (NYSE:APC) last released its quarterly earnings data on Tuesday, May 1st. The oil and gas development company reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.09. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.14 billion. Anadarko Petroleum had a negative net margin of 0.15% and a negative return on equity of 3.44%. The company’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.60) EPS. equities research analysts forecast that Anadarko Petroleum Co. will post 2.66 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 27th. Shareholders of record on Wednesday, June 13th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 12th. This represents a $1.00 annualized dividend and a yield of 1.42%. Anadarko Petroleum’s dividend payout ratio is presently -51.02%.
Anadarko Petroleum declared that its board has authorized a stock buyback 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 buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
About Anadarko Petroleum
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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