Courier Capital LLC lowered its stake in shares of Anadarko Petroleum Co. (NYSE:APC) by 9.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 10,144 shares of the oil and gas development company’s stock after selling 1,046 shares during the period. Courier Capital LLC’s holdings in Anadarko Petroleum were worth $684,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kiley Juergens Wealth Management LLC acquired a new stake in shares of Anadarko Petroleum during the 2nd quarter valued at about $182,000. NN Investment Partners Holdings N.V. acquired a new stake in shares of Anadarko Petroleum during the 2nd quarter valued at about $182,000. Beaton Management Co. Inc. acquired a new stake in shares of Anadarko Petroleum during the 2nd quarter valued at about $202,000. Lido Advisors LLC acquired a new stake in shares of Anadarko Petroleum during the 2nd quarter valued at about $202,000. Finally, Quest Investment Management LLC acquired a new stake in shares of Anadarko Petroleum during the 2nd quarter valued at about $203,000. Institutional investors and hedge funds own 86.25% of the company’s stock.
APC stock opened at $67.63 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.85 and a current ratio of 0.85. Anadarko Petroleum Co. has a 12-month low of $46.74 and a 12-month high of $76.70. The stock has a market capitalization of $34.52 billion, a P/E ratio of -34.51, a PEG ratio of 1.88 and a beta of 1.26.
Anadarko Petroleum (NYSE:APC) last posted its quarterly earnings data on Tuesday, July 31st. The oil and gas development company reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.06). Anadarko Petroleum had a return on equity of 1.85% and a net margin of 3.63%. The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the previous year, the firm posted ($0.75) earnings per share. The company’s quarterly revenue was up 21.2% on a year-over-year basis. As a group, analysts expect that Anadarko Petroleum Co. will post 2.96 earnings per share for the current year.
Anadarko Petroleum announced that its board has initiated a stock buyback program on Monday, July 9th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the oil and gas development company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 26th. Investors of record on Wednesday, September 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Tuesday, September 11th. Anadarko Petroleum’s payout ratio is -51.02%.
APC has been the topic of a number of analyst reports. Barclays initiated coverage on Anadarko Petroleum in a research report on Wednesday, August 29th. They set an “overweight” rating and a $77.00 target price on the stock. Bank of America set a $100.00 target price on Anadarko Petroleum and gave the company a “buy” rating in a research report on Tuesday, September 4th. Morgan Stanley dropped their target price on Anadarko Petroleum from $86.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, September 4th. Mizuho initiated coverage on Anadarko Petroleum in a research report on Monday, July 23rd. They set a “buy” rating and a $102.00 target price on the stock. Finally, Mitsubishi UFJ Financial Group raised their target price on Anadarko Petroleum to $92.00 and gave the company an “overweight” rating in a research report on Thursday, July 19th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $81.26.
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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