Russell Investments Group Ltd. cut its position in shares of Anadarko Petroleum Corporation (NYSE:APC) by 41.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 152,228 shares of the oil and gas development company’s stock after selling 109,846 shares during the period. Russell Investments Group Ltd.’s holdings in Anadarko Petroleum were worth $7,436,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in APC. BlackRock Inc. raised its holdings in shares of Anadarko Petroleum by 8.2% in the 2nd 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 in the last quarter. Vanguard Group Inc. raised its holdings in shares of Anadarko Petroleum by 2.6% in the 2nd 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 in the last quarter. Dodge & Cox raised its holdings in shares of Anadarko Petroleum by 43.7% in the 2nd 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 in the last quarter. State Street Corp raised its holdings in shares of Anadarko Petroleum by 0.8% in the 2nd 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 in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Anadarko Petroleum by 106.6% in the 2nd 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 in the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

Anadarko Petroleum Corporation (NYSE:APC) opened at $47.92 on Friday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 1.11. Anadarko Petroleum Corporation has a 52 week low of $39.96 and a 52 week high of $73.33.

Anadarko Petroleum (NYSE:APC) last issued its quarterly earnings results on Tuesday, October 31st. The oil and gas development company reported ($0.77) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.56) by ($0.21). Anadarko Petroleum had a negative net margin of 17.13% and a negative return on equity of 9.82%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the company posted ($0.89) EPS. The company’s revenue for the quarter was up 31.9% compared to the same quarter last year. sell-side analysts forecast that Anadarko Petroleum Corporation will post -2.24 earnings per share for the current year.

Anadarko Petroleum declared that its Board of Directors has initiated a share buyback plan on Wednesday, September 20th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the oil and gas development company to buy up to 10% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Wednesday, December 13th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, December 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.42%. Anadarko Petroleum’s payout ratio is -5.63%.

Several equities research analysts have recently commented on the stock. BidaskClub lowered shares of Anadarko Petroleum from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Stifel Nicolaus restated a “buy” rating and issued a $77.00 price target (up previously from $76.00) on shares of Anadarko Petroleum in a report on Monday, September 25th. Scotiabank set a $62.00 price target on shares of Anadarko Petroleum and gave the company a “buy” rating in a report on Saturday, November 25th. Royal Bank Of Canada restated a “buy” rating and issued a $62.00 price target on shares of Anadarko Petroleum in a report on Friday, September 29th. Finally, Cowen set a $60.00 price target on shares of Anadarko Petroleum and gave the company a “buy” rating in a report on Monday, October 16th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $67.18.

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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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Institutional Ownership by Quarter for Anadarko Petroleum (NYSE:APC)

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