Alliancebernstein L.P. decreased its position in shares of Anadarko Petroleum Co. (NYSE:APC) by 2.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,049,838 shares of the oil and gas development company’s stock after selling 23,411 shares during the period. Alliancebernstein L.P. owned 0.19% of Anadarko Petroleum worth $56,313,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mackenzie Financial Corp bought a new stake in shares of Anadarko Petroleum during the fourth quarter valued at approximately $55,469,000. Dimensional Fund Advisors LP raised its position in shares of Anadarko Petroleum by 2.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,582,421 shares of the oil and gas development company’s stock valued at $126,152,000 after buying an additional 63,165 shares during the last quarter. American International Group Inc. raised its position in shares of Anadarko Petroleum by 2.9% during the fourth quarter. American International Group Inc. now owns 217,022 shares of the oil and gas development company’s stock valued at $11,641,000 after buying an additional 6,123 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its position in shares of Anadarko Petroleum by 7.1% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 642,219 shares of the oil and gas development company’s stock valued at $31,373,000 after buying an additional 42,627 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Anadarko Petroleum by 6.4% during the third quarter. JPMorgan Chase & Co. now owns 10,257,355 shares of the oil and gas development company’s stock valued at $501,380,000 after buying an additional 619,056 shares during the last quarter. Institutional investors own 88.19% of the company’s stock.
Anadarko Petroleum Co. (NYSE:APC) opened at $58.98 on Tuesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.73 and a current ratio of 1.73. The company has a market cap of $31,410.00, a price-to-earnings ratio of -19.86, a price-to-earnings-growth ratio of 3.71 and a beta of 1.40. Anadarko Petroleum Co. has a one year low of $39.96 and a one year high of $64.17.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.70%. This is a positive change from Anadarko Petroleum’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Tuesday, March 13th. Anadarko Petroleum’s payout ratio is presently -6.73%.
Anadarko Petroleum declared that its board has approved a stock repurchase program on Wednesday, February 7th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the oil and gas development company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
Several research firms have recently issued reports on APC. Stifel Nicolaus set a $73.00 price objective on shares of Anadarko Petroleum and gave the company a “buy” rating in a research report on Monday, January 29th. Morgan Stanley lifted their price objective on shares of Anadarko Petroleum from $55.00 to $66.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Credit Suisse Group set a $71.00 price objective on shares of Anadarko Petroleum and gave the company a “buy” rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Zacks Investment Research cut shares of Anadarko Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, February 16th. Finally, UBS Group began coverage on shares of Anadarko Petroleum in a research report on Wednesday, March 7th. They set a “buy” rating and a $74.00 price objective on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have issued a buy rating to the stock. Anadarko Petroleum has an average rating of “Buy” and an average target price of $67.70.
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About Anadarko Petroleum
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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