Tocqueville Asset Management L.P. cut its position in shares of Anadarko Petroleum Co. (NYSE:APC) by 50.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,485 shares of the oil and gas development company’s stock after selling 19,710 shares during the period. Tocqueville Asset Management L.P.’s holdings in Anadarko Petroleum were worth $1,045,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Stelac Advisory Services LLC acquired a new position in shares of Anadarko Petroleum during the 3rd quarter worth about $107,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Anadarko Petroleum during the 3rd quarter worth about $116,000. Cerebellum GP LLC bought a new stake in shares of Anadarko Petroleum during the 4th quarter worth about $131,000. Resources Investment Advisors Inc. bought a new stake in shares of Anadarko Petroleum during the 4th quarter worth about $142,000. Finally, Clear Perspective Advisors LLC boosted its holdings in shares of Anadarko Petroleum by 166.7% during the 4th quarter. Clear Perspective Advisors LLC now owns 3,200 shares of the oil and gas development company’s stock worth $172,000 after buying an additional 2,000 shares during the period. Institutional investors own 88.19% of the company’s stock.
Several analysts recently commented on APC shares. Scotiabank set a $62.00 target price on shares of Anadarko Petroleum and gave the stock a “buy” rating in a report on Saturday, November 25th. Zacks Investment Research downgraded shares of Anadarko Petroleum from a “buy” rating to a “hold” rating in a report on Friday, February 16th. Cowen set a $70.00 target price on shares of Anadarko Petroleum and gave the stock a “buy” rating in a report on Thursday, January 18th. Credit Suisse Group set a $71.00 target price on shares of Anadarko Petroleum and gave the stock a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, Barclays lifted their target price on shares of Anadarko Petroleum from $39.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, December 21st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $67.70.
Anadarko Petroleum (NYSE:APC) last issued its earnings results on Tuesday, February 6th. The oil and gas development company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.03 by $0.15. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Anadarko Petroleum had a negative net margin of 3.83% and a negative return on equity of 7.48%. The business’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.50) EPS. equities research analysts expect that Anadarko Petroleum Co. will post 1.56 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, March 14th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 13th. This is a boost from Anadarko Petroleum’s previous quarterly dividend of $0.05. This represents a $1.00 annualized dividend and a dividend yield of 1.70%. Anadarko Petroleum’s payout ratio is presently -24.69%.
Anadarko Petroleum declared that its Board of Directors has approved 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 purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
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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