Andra AP fonden Reduces Stake in Anadarko Petroleum Corporation (APC)
Andra AP fonden decreased its holdings in shares of Anadarko Petroleum Corporation (NYSE:APC) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,500 shares of the oil and gas development company’s stock after selling 1,500 shares during the quarter. Andra AP fonden’s holdings in Anadarko Petroleum Corporation were worth $4,030,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in APC. Oppenheimer Asset Management Inc. acquired a new position in shares of Anadarko Petroleum Corporation during the 1st quarter worth $4,417,000. Two Sigma Securities LLC purchased a new stake in Anadarko Petroleum Corporation in the 1st quarter valued at about $330,000. Highbridge Capital Management LLC grew its holdings in Anadarko Petroleum Corporation by 5.4% in the 1st quarter. Highbridge Capital Management LLC now owns 11,156 shares of the oil and gas development company’s stock valued at $692,000 after buying an additional 572 shares during the period. AQR Capital Management LLC grew its holdings in shares of Anadarko Petroleum Corporation by 55.7% during the 1st quarter. AQR Capital Management LLC now owns 995,947 shares of the oil and gas development company’s stock worth $61,748,000 after purchasing an additional 356,419 shares during the period. Finally, Paloma Partners Management Co grew its holdings in shares of Anadarko Petroleum Corporation by 233.3% during the 1st quarter. Paloma Partners Management Co now owns 85,044 shares of the oil and gas development company’s stock worth $5,273,000 after purchasing an additional 59,526 shares during the period. 87.74% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on APC shares. Mitsubishi UFJ Financial Group upgraded Anadarko Petroleum Corporation from a “neutral” rating to a “buy” rating and set a $66.00 price target for the company in a report on Thursday, July 27th. Bank of America Corporation decreased their price target on Anadarko Petroleum Corporation from $81.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, July 25th. Stifel Nicolaus restated a “buy” rating and issued a $78.00 price target (down previously from $80.00) on shares of Anadarko Petroleum Corporation in a report on Tuesday, July 25th. Citigroup Inc. decreased their price target on Anadarko Petroleum Corporation from $85.00 to $60.00 and set a “buy” rating for the company in a report on Friday, July 21st. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $62.00 price target on shares of Anadarko Petroleum Corporation in a report on Thursday, July 20th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Anadarko Petroleum Corporation has a consensus rating of “Buy” and an average target price of $67.35.
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Shares of Anadarko Petroleum Corporation (NYSE:APC) opened at $51.08 on Wednesday. Anadarko Petroleum Corporation has a 52 week low of $39.96 and a 52 week high of $73.33. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 1.11.
Anadarko Petroleum Corporation (NYSE:APC) last announced its quarterly earnings data on Tuesday, October 31st. The oil and gas development company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.21). Anadarko Petroleum Corporation had a negative return on equity of 9.82% and a negative net margin of 17.13%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period last year, the firm earned ($0.89) earnings per share. The firm’s revenue for the quarter was up 31.9% on a year-over-year basis. sell-side analysts predict that Anadarko Petroleum Corporation will post -2.31 EPS for the current fiscal year.
Anadarko Petroleum Corporation declared that its board has initiated a share repurchase plan on Wednesday, September 20th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the oil and gas development company to purchase up to 10% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
About Anadarko Petroleum Corporation
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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