Virtus Fund Advisers LLC grew its position in Anadarko Petroleum Co. (NYSE:APC) by 2,503.4% in the fourth quarter, Holdings Channel reports. The fund owned 1,155,716 shares of the oil and gas development company’s stock after buying an additional 1,111,324 shares during the quarter. Virtus Fund Advisers LLC’s holdings in Anadarko Petroleum were worth $61,993,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. 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 valued at $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% in the second quarter. Advisory Services Network LLC now owns 4,812 shares of the oil and gas development company’s stock valued at $218,000 after acquiring an additional 932 shares during the last quarter. Sigma Investment Counselors Inc. raised its stake in shares of Anadarko Petroleum by 2.8% in the third quarter. Sigma Investment Counselors Inc. now owns 40,400 shares of the oil and gas development company’s stock valued at $1,974,000 after acquiring an additional 1,086 shares during the last quarter. First Manhattan Co. raised its stake in shares of Anadarko Petroleum by 5.0% in the fourth quarter. First Manhattan Co. now owns 22,940 shares of the oil and gas development company’s stock valued at $1,230,000 after acquiring 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% in the third quarter. Piedmont Investment Advisors LLC now owns 120,917 shares of the oil and gas development company’s stock valued at $5,907,000 after acquiring an additional 1,112 shares during the last quarter. Institutional investors own 83.82% of the company’s stock.
A number of research firms have recently issued reports on APC. Stifel Nicolaus set a $73.00 target price on shares of Anadarko Petroleum and gave the company a “buy” rating in a research note on Monday, January 29th. Morgan Stanley raised their price target on shares of Anadarko Petroleum from $55.00 to $66.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Credit Suisse Group set a $71.00 price target on shares of Anadarko Petroleum and gave the company a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Anadarko Petroleum from a “buy” rating to a “hold” rating in a report on Friday. Finally, TheStreet raised shares of Anadarko Petroleum from a “d+” rating to a “c” rating in a report on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating and nineteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $68.19.
Anadarko Petroleum (NYSE:APC) last released its earnings results on Tuesday, February 6th. The oil and gas development company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.15. Anadarko Petroleum had a negative net margin of 3.83% and a negative return on equity of 7.48%. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the previous year, the business earned ($0.50) EPS. The business’s quarterly revenue was up 22.7% compared to the same quarter last year. equities analysts forecast that Anadarko Petroleum Co. will post 1.35 earnings per share for the current fiscal year.
Anadarko Petroleum declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 7th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the oil and gas development company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Tuesday, March 13th. This is a positive change from Anadarko Petroleum’s previous quarterly dividend of $0.05. Anadarko Petroleum’s payout ratio is currently -24.69%.
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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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