BlueMountain Capital Management LLC reduced its position in Anadarko Petroleum Co. (NYSE:APC) by 88.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,714 shares of the oil and gas development company’s stock after selling 115,104 shares during the period. BlueMountain Capital Management LLC’s holdings in Anadarko Petroleum were worth $1,078,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Korea Investment CORP lifted its holdings in shares of Anadarko Petroleum by 10.9% in the 2nd quarter. Korea Investment CORP now owns 434,785 shares of the oil and gas development company’s stock worth $31,848,000 after purchasing an additional 42,900 shares in the last quarter. Commonwealth Bank of Australia lifted its holdings in shares of Anadarko Petroleum by 6,350.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 30,575 shares of the oil and gas development company’s stock worth $2,234,000 after purchasing an additional 30,101 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Anadarko Petroleum by 2.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 58,660 shares of the oil and gas development company’s stock worth $4,296,000 after purchasing an additional 1,304 shares in the last quarter. AGF Investments Inc. lifted its holdings in shares of Anadarko Petroleum by 33.8% in the 2nd quarter. AGF Investments Inc. now owns 1,307,148 shares of the oil and gas development company’s stock worth $95,749,000 after purchasing an additional 330,526 shares in the last quarter. Finally, ING Groep NV bought a new position in shares of Anadarko Petroleum in the 2nd quarter worth $4,363,000. Institutional investors own 86.27% of the company’s stock.
Several equities analysts have weighed in on the company. Bank of America set a $100.00 price objective on Anadarko Petroleum and gave the company a “buy” rating in a research note on Tuesday, July 31st. Barclays assumed coverage on Anadarko Petroleum in a research note on Wednesday, August 29th. They set an “overweight” rating and a $77.00 price objective on the stock. Mizuho assumed coverage on Anadarko Petroleum in a research note on Monday, July 23rd. They set a “buy” rating and a $102.00 price objective on the stock. Mitsubishi UFJ Financial Group raised their price objective on Anadarko Petroleum to $92.00 and gave the company an “overweight” rating in a research note on Thursday, July 19th. Finally, Jefferies Financial Group set a $88.00 price objective on Anadarko Petroleum and gave the company a “buy” rating in a research note on Tuesday, August 7th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $79.60.
NYSE APC opened at $62.44 on Friday. The firm has a market cap of $32.04 billion, a PE ratio of -31.86, a price-to-earnings-growth ratio of 2.13 and a beta of 1.27. Anadarko Petroleum Co. has a one year low of $43.13 and a one year high of $76.70. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.34.
Anadarko Petroleum (NYSE:APC) last released its earnings results on Tuesday, July 31st. The oil and gas development company reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.06). The business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.08 billion. Anadarko Petroleum had a return on equity of 1.85% and a net margin of 3.63%. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.75) earnings per share. sell-side analysts forecast that Anadarko Petroleum Co. will post 2.94 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 26th. Stockholders of record on Wednesday, September 12th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Tuesday, September 11th. Anadarko Petroleum’s payout ratio is -51.02%.
Anadarko Petroleum announced that its board has approved a share buyback program on Monday, July 9th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the oil and gas development company to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is 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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