Insider Selling: Robert K. Reeves Sells 50,900 Shares of Anadarko Petroleum Stock (APC)
Anadarko Petroleum (NYSE:APC) CAO Robert K. Reeves sold 50,900 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $108.03, for a total value of $5,498,727.00. Following the completion of the sale, the chief accounting officer now directly owns 58,330 shares in the company, valued at approximately $6,301,390. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on APC. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Anadarko Petroleum in a research note on Wednesday. They now have a $126.00 price target on the stock, up previously from $116.00. Separately, analysts at Raymond James raised their price target on shares of Anadarko Petroleum from $118.00 to $120.00 in a research note on Tuesday, May 27th. Finally, analysts at Barclays downgraded shares of Anadarko Petroleum from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, May 20th. They now have a $111.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $114.28.
Anadarko Petroleum (NYSE:APC) traded up 1.52% during mid-day trading on Friday, hitting $109.37. 2,981,555 shares of the company’s stock traded hands. Anadarko Petroleum has a 52 week low of $73.60 and a 52 week high of $109.29. The stock has a 50-day moving average of $101.4 and a 200-day moving average of $88.95. The company’s market cap is $55.238 billion. Anadarko Petroleum also was the target of unusually large options trading activity on Wednesday. Stock investors bought 49,101 call options on the company. This represents an increase of 668% compared to the average volume of 6,395 call options.
Anadarko Petroleum (NYSE:APC) last issued its quarterly earnings data on Monday, May 5th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.10. The company had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the previous year, the company posted $1.08 earnings per share. Analysts expect that Anadarko Petroleum will post $5.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, June 25th. Investors of record on Wednesday, June 11th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Anadarko Petroleum’s previous quarterly dividend of $0.18.
Anadarko Petroleum Corporation (NYSE:APC) is an independent exploration and production company.
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