Anadarko Petroleum Co. (APC) Holdings Cut by Renaissance Technologies LLC
Renaissance Technologies LLC decreased its holdings in Anadarko Petroleum Co. (NYSE:APC) by 28.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,432,000 shares of the oil and gas development company’s stock after selling 564,500 shares during the period. Renaissance Technologies LLC’s holdings in Anadarko Petroleum were worth $76,812,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Seaward Management Limited Partnership increased its holdings in shares of Anadarko Petroleum by 17.5% in the 4th quarter. Seaward Management Limited Partnership now owns 5,764 shares of the oil and gas development company’s stock valued at $309,000 after purchasing an additional 860 shares during the period. OppenheimerFunds Inc. increased its holdings in shares of Anadarko Petroleum by 1.9% in the 4th quarter. OppenheimerFunds Inc. now owns 49,686 shares of the oil and gas development company’s stock valued at $2,665,000 after purchasing an additional 906 shares during the period. Brown Advisory Inc. increased its holdings in shares of Anadarko Petroleum by 1.1% in the 4th quarter. Brown Advisory Inc. now owns 98,577 shares of the oil and gas development company’s stock valued at $5,288,000 after purchasing an additional 1,051 shares during the period. Sigma Investment Counselors Inc. increased its holdings in shares of Anadarko Petroleum by 2.8% in the 3rd 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 purchasing an additional 1,086 shares during the period. Finally, First Manhattan Co. increased its holdings in shares of Anadarko Petroleum by 5.0% in the 4th quarter. First Manhattan Co. now owns 22,940 shares of the oil and gas development company’s stock valued at $1,230,000 after purchasing an additional 1,093 shares during the period. Institutional investors own 87.28% of the company’s stock.
A number of equities analysts have recently weighed in on the company. UBS Group assumed coverage on Anadarko Petroleum in a report on Wednesday. They issued a “buy” rating and a $74.00 target price on the stock. Royal Bank of Canada set a $72.00 target price on Anadarko Petroleum and gave the company a “buy” rating in a report on Monday, March 5th. Zacks Investment Research downgraded Anadarko Petroleum from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Piper Jaffray Companies set a $72.00 target price on Anadarko Petroleum and gave the company a “buy” rating in a report on Sunday, February 11th. Finally, TheStreet upgraded Anadarko Petroleum from a “d+” rating to a “c” rating in a report on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $67.70.
Anadarko Petroleum (NYSE:APC) last announced its earnings results on Tuesday, February 6th. The oil and gas development company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.15. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Anadarko Petroleum had a negative return on equity of 7.48% and a negative net margin of 3.83%. The company’s revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.50) earnings per share. equities analysts forecast that Anadarko Petroleum Co. will post 1.56 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.72%. This is a boost from Anadarko Petroleum’s previous quarterly dividend of $0.05. Anadarko Petroleum’s dividend payout ratio is presently -24.69%.
Anadarko Petroleum announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 7th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the oil and gas development company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
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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