Anadarko Petroleum (APC) Shares Gap Up After Dividend Announcement

Anadarko Petroleum Co. (NYSE:APC) shares gapped up before the market opened on Thursday after the company announced a dividend. The stock had previously closed at $56.68, but opened at $58.72. Anadarko Petroleum shares last traded at $57.50, with a volume of 4193370 shares trading hands.

The newly announced dividend which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th will be given a $0.25 dividend. The ex-dividend date is Tuesday, March 13th. This is a positive change from Anadarko Petroleum’s previous quarterly dividend of $0.05. This represents a $1.00 dividend on an annualized basis and a yield of 1.74%. Anadarko Petroleum’s payout ratio is -25.32%.

A number of equities analysts have commented on APC shares. Barclays boosted their price target on shares of Anadarko Petroleum from $35.00 to $37.00 and gave the company an “underweight” rating in a research report on Wednesday, October 11th. Citigroup reduced their price target on shares of Anadarko Petroleum from $60.00 to $58.00 and set a “buy” rating on the stock in a research report on Friday, October 13th. Wolfe Research lowered shares of Anadarko Petroleum from an “outperform” rating to a “market perform” rating in a research report on Monday, October 16th. Cowen set a $60.00 price target on shares of Anadarko Petroleum and gave the company a “buy” rating in a research report on Monday, October 16th. Finally, Morgan Stanley set a $55.00 price target on shares of Anadarko Petroleum and gave the company a “hold” rating in a research report on Wednesday, October 18th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $67.95.

The company has a market capitalization of $32,150.00, a P/E ratio of -71.66, a price-to-earnings-growth ratio of 894.29 and a beta of 1.42. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.03 and a quick ratio of 2.03.

Anadarko Petroleum (NYSE:APC) last announced its earnings results on Tuesday, February 6th. The oil and gas development company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.15. Anadarko Petroleum had a negative net margin of 3.83% and a negative return on equity of 7.38%. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the firm posted ($0.50) earnings per share. The company’s revenue was up 22.7% on a year-over-year basis. research analysts predict that Anadarko Petroleum Co. will post 0.01 EPS for the current fiscal year.

Anadarko Petroleum declared that its Board of Directors has authorized a share buyback program on Wednesday, February 7th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the oil and gas development company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Seaward Management Limited Partnership raised its stake in shares of Anadarko Petroleum by 17.5% in the fourth quarter. Seaward Management Limited Partnership now owns 5,764 shares of the oil and gas development company’s stock worth $309,000 after acquiring an additional 860 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Anadarko Petroleum by 24.0% during the second quarter. Advisory Services Network LLC now owns 4,812 shares of the oil and gas development company’s stock worth $218,000 after buying an additional 932 shares during the last quarter. Sigma Investment Counselors Inc. raised its stake in shares of Anadarko Petroleum by 2.8% during the third quarter. Sigma Investment Counselors Inc. now owns 40,400 shares of the oil and gas development company’s stock worth $1,974,000 after buying an additional 1,086 shares during the last quarter. First Manhattan Co. raised its stake in shares of Anadarko Petroleum by 5.0% during the fourth quarter. First Manhattan Co. now owns 22,940 shares of the oil and gas development company’s stock worth $1,230,000 after buying an additional 1,093 shares during the last quarter. Finally, Piedmont Investment Advisors LLC raised its stake in shares of Anadarko Petroleum by 0.9% during the third quarter. Piedmont Investment Advisors LLC now owns 120,917 shares of the oil and gas development company’s stock worth $5,907,000 after buying an additional 1,112 shares during the last quarter. 88.02% of the stock is owned by institutional investors.

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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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