Carret Asset Management LLC Sells 1,525 Shares of Anadarko Petroleum Corporation (APC)
Carret Asset Management LLC decreased its holdings in shares of Anadarko Petroleum Corporation (NYSE:APC) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,423 shares of the oil and gas development company’s stock after selling 1,525 shares during the period. Carret Asset Management LLC’s holdings in Anadarko Petroleum Corporation were worth $2,558,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Anadarko Petroleum Corporation by 8.2% during the second quarter. BlackRock Inc. now owns 45,766,435 shares of the oil and gas development company’s stock valued at $2,075,051,000 after purchasing an additional 3,466,161 shares during the last quarter. Vanguard Group Inc. increased its stake in Anadarko Petroleum Corporation by 2.6% during the second quarter. Vanguard Group Inc. now owns 39,870,873 shares of the oil and gas development company’s stock valued at $1,807,745,000 after purchasing an additional 999,933 shares during the last quarter. Dodge & Cox increased its stake in Anadarko Petroleum Corporation by 43.7% during the second quarter. Dodge & Cox now owns 32,794,208 shares of the oil and gas development company’s stock valued at $1,486,889,000 after purchasing an additional 9,965,600 shares during the last quarter. State Street Corp increased its stake in Anadarko Petroleum Corporation by 0.8% during the second quarter. State Street Corp now owns 28,641,263 shares of the oil and gas development company’s stock valued at $1,298,599,000 after purchasing an additional 218,628 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Anadarko Petroleum Corporation by 106.6% during the second quarter. Franklin Resources Inc. now owns 14,394,958 shares of the oil and gas development company’s stock valued at $652,661,000 after purchasing an additional 7,428,741 shares during the last quarter. Hedge funds and other institutional investors own 85.05% of the company’s stock.
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Anadarko Petroleum Corporation (NYSE:APC) traded down 0.989% during mid-day trading on Friday, reaching $48.565. 1,763,375 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $44.41 and a 200-day moving average price of $49.52. The stock’s market cap is $27.21 billion. Anadarko Petroleum Corporation has a 52 week low of $39.96 and a 52 week high of $73.33.
Anadarko Petroleum Corporation (NYSE:APC) last released its earnings results on Monday, July 24th. The oil and gas development company reported ($0.77) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.42). The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.50 billion. Anadarko Petroleum Corporation had a negative net margin of 19.31% and a negative return on equity of 9.71%. The company’s revenue was up 41.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.60) EPS. On average, analysts forecast that Anadarko Petroleum Corporation will post ($2.11) earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 13th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Tuesday, September 12th. Anadarko Petroleum Corporation’s payout ratio is -5.14%.
Anadarko Petroleum Corporation announced that its board has approved a stock buyback plan on Wednesday, September 20th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the oil and gas development company to buy up to 10% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
Several research firms have weighed in on APC. Royal Bank Of Canada set a $78.00 target price on shares of Anadarko Petroleum Corporation and gave the company a “buy” rating in a research note on Saturday, June 17th. Atlantic Securities upgraded shares of Anadarko Petroleum Corporation from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $49.05 to $62.00 in a research note on Friday. BidaskClub lowered shares of Anadarko Petroleum Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Stifel Nicolaus reiterated a “buy” rating and set a $77.00 target price (up previously from $76.00) on shares of Anadarko Petroleum Corporation in a research note on Monday, September 25th. Finally, Mitsubishi UFJ Financial Group restated a “buy” rating and set a $66.00 price target on shares of Anadarko Petroleum Corporation in a research report on Thursday, September 21st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $69.46.
Anadarko Petroleum Corporation 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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