Cohen & Steers Inc. Has $6.09 Million Stake in Anadarko Petroleum Corporation (APC)
Cohen & Steers Inc. increased its stake in shares of Anadarko Petroleum Corporation (NYSE:APC) by 56.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 124,697 shares of the oil and gas development company’s stock after purchasing an additional 44,934 shares during the quarter. Cohen & Steers Inc.’s holdings in Anadarko Petroleum were worth $6,091,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cowen Inc. grew its position in Anadarko Petroleum by 1,549.5% in the 3rd quarter. Cowen Inc. now owns 137,700 shares of the oil and gas development company’s stock valued at $6,726,000 after acquiring an additional 147,200 shares during the last quarter. Southport Management L.L.C. bought a new position in Anadarko Petroleum in the 3rd quarter valued at $489,000. Allianz Asset Management GmbH grew its position in Anadarko Petroleum by 16.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,222,683 shares of the oil and gas development company’s stock valued at $59,728,000 after acquiring an additional 174,642 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in Anadarko Petroleum by 7.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 73,917 shares of the oil and gas development company’s stock valued at $3,611,000 after acquiring an additional 4,950 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in Anadarko Petroleum by 138.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 322,097 shares of the oil and gas development company’s stock valued at $15,801,000 after acquiring an additional 186,870 shares during the last quarter. 87.91% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Anadarko Petroleum Corporation (NYSE:APC) opened at $48.30 on Tuesday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 1.11. Anadarko Petroleum Corporation has a 12 month low of $39.96 and a 12 month high of $73.33.
Anadarko Petroleum (NYSE:APC) last issued its quarterly earnings data on Tuesday, October 31st. The oil and gas development company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.21). The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Anadarko Petroleum had a negative return on equity of 9.82% and a negative net margin of 17.13%. The company’s revenue for the quarter was up 31.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.89) earnings per share. research analysts anticipate that Anadarko Petroleum Corporation will post -2.24 earnings per share for the current fiscal year.
Anadarko Petroleum announced that its board has approved a share repurchase plan on Wednesday, September 20th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the oil and gas development company to purchase up to 10% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 27th. Investors of record on Wednesday, December 13th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Tuesday, December 12th. Anadarko Petroleum’s dividend payout ratio (DPR) is currently -5.63%.
Several equities analysts have commented on APC shares. Scotiabank set a $62.00 price objective on Anadarko Petroleum and gave the company a “buy” rating in a research report on Saturday, November 25th. Jefferies Group set a $62.00 target price on Anadarko Petroleum and gave the stock a “buy” rating in a report on Monday, August 28th. Cowen reiterated a “buy” rating and issued a $60.00 target price on shares of Anadarko Petroleum in a report on Sunday, September 17th. Atlantic Securities upgraded Anadarko Petroleum from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $49.05 to $62.00 in a report on Friday, October 6th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $53.00 target price on shares of Anadarko Petroleum in a report on Monday, September 4th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Anadarko Petroleum has an average rating of “Buy” and an average target price of $66.23.
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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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