Meyer Handelman Co. Trims Stake in Anadarko Petroleum Co. (APC)
Meyer Handelman Co. trimmed its holdings in Anadarko Petroleum Co. (NYSE:APC) by 44.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 93,940 shares of the oil and gas development company’s stock after selling 75,000 shares during the quarter. Meyer Handelman Co.’s holdings in Anadarko Petroleum were worth $5,039,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Fis Group Inc. bought a new stake in shares of Anadarko Petroleum in the third quarter valued at approximately $107,000. Stelac Advisory Services LLC bought a new stake in shares of Anadarko Petroleum in the third quarter valued at approximately $107,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Anadarko Petroleum in the third quarter valued at approximately $116,000. Cerebellum GP LLC bought a new stake in shares of Anadarko Petroleum in the fourth quarter valued at approximately $131,000. Finally, Resources Investment Advisors Inc. bought a new stake in shares of Anadarko Petroleum in the fourth quarter valued at approximately $142,000. 88.02% of the stock is owned by institutional investors.
Several research firms have recently weighed in on APC. TheStreet raised Anadarko Petroleum from a “d+” rating to a “c” rating in a research report on Tuesday, February 6th. BMO Capital Markets increased their price objective on Anadarko Petroleum from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday. Macquarie raised Anadarko Petroleum from a “neutral” rating to an “outperform” rating and set a $70.00 price objective for the company in a research report on Thursday. Jefferies Group reissued a “buy” rating and issued a $78.00 price objective on shares of Anadarko Petroleum in a research report on Thursday. Finally, Credit Suisse Group increased their price objective on Anadarko Petroleum from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have issued a buy rating to the company. Anadarko Petroleum currently has an average rating of “Buy” and a consensus target price of $67.95.
Anadarko Petroleum (NYSE:APC) last issued its quarterly earnings data on Tuesday, February 6th. The oil and gas development company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ 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 return on equity of 7.48% and a negative net margin of 3.83%. The business’s revenue was up 22.7% on a year-over-year basis. During the same period last year, the business earned ($0.50) earnings per share. equities research analysts anticipate that Anadarko Petroleum Co. will post 0.59 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 13th. This is a boost from Anadarko Petroleum’s previous quarterly dividend of $0.05. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.78%. Anadarko Petroleum’s dividend payout ratio (DPR) is presently -24.69%.
Anadarko Petroleum declared that its Board of Directors has initiated a share buyback plan 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 repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
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Anadarko Petroleum 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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