Exxonmobil Investment Management Inc. TX cut its stake in shares of Anadarko Petroleum Co. (NYSE:APC) by 15.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 87,001 shares of the oil and gas development company’s stock after selling 15,325 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Anadarko Petroleum were worth $4,667,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. Optimum Investment Advisors lifted its holdings in Anadarko Petroleum by 0.9% in the 2nd quarter. Optimum Investment Advisors now owns 11,541 shares of the oil and gas development company’s stock worth $523,000 after purchasing an additional 100 shares in the last quarter. Stonebridge Capital Advisors LLC lifted its holdings in Anadarko Petroleum by 0.8% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 24,849 shares of the oil and gas development company’s stock worth $1,127,000 after purchasing an additional 200 shares in the last quarter. YorkBridge Wealth Partners LLC lifted its holdings in Anadarko Petroleum by 12.5% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 3,606 shares of the oil and gas development company’s stock worth $166,000 after purchasing an additional 402 shares in the last quarter. Advisory Services Network LLC lifted its holdings in Anadarko Petroleum by 24.0% in the 2nd quarter. Advisory Services Network LLC now owns 4,812 shares of the oil and gas development company’s stock worth $218,000 after purchasing an additional 932 shares in the last quarter. Finally, Frontier Wealth Management LLC lifted its holdings in Anadarko Petroleum by 9.1% in the 2nd quarter. Frontier Wealth Management LLC now owns 12,003 shares of the oil and gas development company’s stock worth $544,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.
A number of research analysts recently commented on APC shares. Scotiabank set a $62.00 price target on Anadarko Petroleum and gave the stock a “buy” rating in a report on Saturday, November 25th. Cowen reaffirmed a “buy” rating and set a $60.00 price objective on shares of Anadarko Petroleum in a report on Sunday, September 17th. Atlantic Securities raised Anadarko Petroleum from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $49.05 to $62.00 in a report on Friday, October 6th. Morgan Stanley set a $55.00 price objective on Anadarko Petroleum and gave the stock a “hold” rating in a report on Wednesday, October 18th. Finally, Stifel Nicolaus decreased their price objective on Anadarko Petroleum from $73.00 to $72.00 and set a “buy” rating on the stock in a report on Wednesday, November 1st. Three research analysts have rated the stock with a sell rating, five have given a hold rating and nineteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $65.00.
Anadarko Petroleum (NYSE:APC) last released its quarterly earnings results on Tuesday, October 31st. The oil and gas development company reported ($0.77) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by ($0.21). Anadarko Petroleum had a negative net margin of 17.13% and a negative return on equity of 9.82%. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the company posted ($0.89) EPS. The business’s quarterly revenue was up 31.9% on a year-over-year basis. equities analysts forecast that Anadarko Petroleum Co. will post -2.21 earnings per share for the current fiscal year.
Anadarko Petroleum announced that its board has authorized a stock buyback plan on Wednesday, September 20th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the oil and gas development company to reacquire up to 10% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 27th. Investors of record on Wednesday, December 13th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, December 12th. This represents a $0.20 annualized dividend and a yield of 0.34%. Anadarko Petroleum’s payout ratio is presently -5.65%.
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Anadarko Petroleum Company Profile
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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