Anadarko Petroleum Co. (APC) Shares Bought by Cubist Systematic Strategies LLC
Cubist Systematic Strategies LLC increased its stake in Anadarko Petroleum Co. (NYSE:APC) by 12.8% in the second quarter, HoldingsChannel reports. The firm owned 22,234 shares of the oil and gas development company’s stock after acquiring an additional 2,531 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Anadarko Petroleum were worth $1,629,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. ING Groep NV purchased a new position in shares of Anadarko Petroleum in the 2nd quarter valued at about $4,363,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of Anadarko Petroleum by 6.2% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 69,484 shares of the oil and gas development company’s stock valued at $5,090,000 after purchasing an additional 4,075 shares in the last quarter. Summit Trail Advisors LLC increased its holdings in shares of Anadarko Petroleum by 24.4% in the 1st quarter. Summit Trail Advisors LLC now owns 33,104 shares of the oil and gas development company’s stock valued at $1,403,000 after purchasing an additional 6,496 shares in the last quarter. Community Bank & Trust Waco Texas purchased a new position in shares of Anadarko Petroleum in the 2nd quarter valued at about $227,000. Finally, Rampart Investment Management Company LLC increased its holdings in Anadarko Petroleum by 504.5% during the 2nd quarter. Rampart Investment Management Company LLC now owns 34,599 shares of the oil and gas development company’s stock valued at $2,534,000 after acquiring an additional 28,875 shares in the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.
Several research firms have weighed in on APC. Bank of America set a $100.00 target price on shares of Anadarko Petroleum and gave the company a “buy” rating in a report on Tuesday, September 4th. Morgan Stanley dropped their target price on shares of Anadarko Petroleum from $86.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, September 4th. Stifel Nicolaus set a $82.00 target price on shares of Anadarko Petroleum and gave the company a “buy” rating in a report on Wednesday, August 29th. Barclays began coverage on shares of Anadarko Petroleum in a report on Wednesday, August 29th. They set an “overweight” rating and a $77.00 target price for the company. Finally, Johnson Rice downgraded shares of Anadarko Petroleum from a “buy” rating to an “accumulate” rating in a report on Wednesday, August 15th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $79.60.
Anadarko Petroleum (NYSE:APC) last issued its quarterly earnings results on Tuesday, July 31st. The oil and gas development company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.06). The firm had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Anadarko Petroleum had a return on equity of 1.85% and a net margin of 3.63%. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.75) earnings per share. research analysts predict that Anadarko Petroleum Co. will post 2.94 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 26th. Stockholders of record on Wednesday, September 12th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.59%. Anadarko Petroleum’s dividend payout ratio (DPR) is presently -51.02%.
Anadarko Petroleum announced that its Board of Directors has approved a share repurchase program on Monday, July 9th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the oil and gas development company to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
Anadarko Petroleum Profile
Anadarko Petroleum Corporation engages in the exploration, development, production, and marketing of oil and gas properties. It operates through three segments: Exploration and Production, WES Midstream, and Other Midstream. The company explores for and produces oil, natural gas, and natural gas liquids (NGLs).
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