Principal Financial Group Inc. reduced its position in Anadarko Petroleum Corp. (NYSE:APC) by 13.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 694,286 shares of the oil and gas development company’s stock after selling 110,741 shares during the period. Principal Financial Group Inc. owned approximately 0.14% of Anadarko Petroleum Corp. worth $36,970,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in APC. Legal & General Group Plc boosted its position in shares of Anadarko Petroleum Corp. by 6.4% in the first quarter. Legal & General Group Plc now owns 2,242,180 shares of the oil and gas development company’s stock worth $104,425,000 after buying an additional 135,608 shares during the last quarter. Arizona State Retirement System boosted its position in Anadarko Petroleum Corp. by 0.4% in the first quarter. Arizona State Retirement System now owns 137,826 shares of the oil and gas development company’s stock valued at $6,419,000 after buying an additional 600 shares in the last quarter. Factory Mutual Insurance Co. bought a new position in Anadarko Petroleum Corp. during the first quarter valued at about $27,430,000. Prudential Financial Inc. boosted its position in Anadarko Petroleum Corp. by 0.8% in the first quarter. Prudential Financial Inc. now owns 648,419 shares of the oil and gas development company’s stock valued at $30,197,000 after buying an additional 5,100 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in Anadarko Petroleum Corp. by 0.7% in the first quarter. Loomis Sayles & Co. L P now owns 3,424 shares of the oil and gas development company’s stock valued at $159,000 after buying an additional 24 shares in the last quarter. 86.49% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Anadarko Petroleum Corp. (NYSE:APC) traded up 0.78% during trading on Tuesday, hitting $57.97. The stock had a trading volume of 1,150,778 shares. The company’s 50 day moving average price is $55.01 and its 200 day moving average price is $51.76. Anadarko Petroleum Corp. has a 12 month low of $28.16 and a 12 month high of $73.87. The stock’s market cap is $29.59 billion.

Anadarko Petroleum Corp. (NYSE:APC) last announced its quarterly earnings results on Tuesday, July 26th. The oil and gas development company reported ($0.60) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.80) by $0.20. Anadarko Petroleum Corp. had a negative return on equity of 9.88% and a negative net margin of 71.09%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the company posted $0.01 EPS. The company’s quarterly revenue was down 27.4% on a year-over-year basis. Equities research analysts expect that Anadarko Petroleum Corp. will post ($2.78) earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 14th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Monday, September 12th. Anadarko Petroleum Corp.’s dividend payout ratio (DPR) is presently -1.95%.

Several equities analysts have issued reports on the stock. Citigroup Inc. upped their target price on shares of Anadarko Petroleum Corp. from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, September 13th. Morgan Stanley upped their target price on shares of Anadarko Petroleum Corp. from $74.00 to $81.00 and gave the company an “overweight” rating in a research note on Tuesday, September 13th. Royal Bank Of Canada upped their target price on shares of Anadarko Petroleum Corp. from $66.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, September 13th. Johnson Rice upgraded shares of Anadarko Petroleum Corp. from an “accumulate” rating to a “buy” rating in a research note on Tuesday, September 13th. Finally, Bank of America Corp. restated a “buy” rating and set a $95.00 target price on shares of Anadarko Petroleum Corp. in a research note on Tuesday, September 13th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $68.32.

About Anadarko Petroleum Corp.

Anadarko Petroleum Corporation (Anadarko) is an independent exploration and production company. The Company’s segments include Oil and Gas Exploration & Production; Midstream, and Marketing. The Oil and Gas Exploration & Production segment explores for and produces oil, condensate, natural gas and natural gas liquids (NGLs), and focuses on the development and operation of the Company’s liquefied natural gas (LNG) project in Mozambique.

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