Salem Capital Management Inc. Has $1.41 Million Position in Anadarko Petroleum Co. (APC)
Salem Capital Management Inc. lessened its holdings in Anadarko Petroleum Co. (NYSE:APC) by 15.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,275 shares of the oil and gas development company’s stock after selling 4,850 shares during the quarter. Salem Capital Management Inc.’s holdings in Anadarko Petroleum were worth $1,409,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. Riverhead Capital Management LLC increased its position in shares of Anadarko Petroleum by 19.5% during the second quarter. Riverhead Capital Management LLC now owns 12,899 shares of the oil and gas development company’s stock valued at $585,000 after buying an additional 2,104 shares during the period. BlueMountain Capital Management LLC increased its position in shares of Anadarko Petroleum by 3,843.7% during the second quarter. BlueMountain Capital Management LLC now owns 49,612 shares of the oil and gas development company’s stock valued at $2,249,000 after buying an additional 48,354 shares during the period. ProShare Advisors LLC boosted its stake in Anadarko Petroleum by 28.1% during the second quarter. ProShare Advisors LLC now owns 131,290 shares of the oil and gas development company’s stock worth $5,953,000 after acquiring an additional 28,819 shares in the last quarter. Sandy Spring Bank boosted its stake in Anadarko Petroleum by 31.2% during the second quarter. Sandy Spring Bank now owns 11,023 shares of the oil and gas development company’s stock worth $500,000 after acquiring an additional 2,620 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Anadarko Petroleum by 9.7% during the second quarter. New York State Common Retirement Fund now owns 1,640,104 shares of the oil and gas development company’s stock worth $74,362,000 after acquiring an additional 145,203 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.
Shares of Anadarko Petroleum Co. (NYSE APC) traded up $0.48 during mid-day trading on Tuesday, reaching $58.98. 4,907,100 shares of the company’s stock were exchanged, compared to its average volume of 5,181,745. Anadarko Petroleum Co. has a twelve month low of $39.96 and a twelve month high of $71.97. The stock has a market capitalization of $32,320.00, a PE ratio of -16.66 and a beta of 1.38. 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 (NYSE:APC) last announced its earnings results on Tuesday, October 31st. The oil and gas development company reported ($0.77) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.56) by ($0.21). Anadarko Petroleum had a negative net margin of 17.13% and a negative return on equity of 9.82%. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the company posted ($0.89) earnings per share. The firm’s quarterly revenue was up 31.9% on a year-over-year basis. sell-side analysts predict that Anadarko Petroleum Co. will post -2.2 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 27th. Stockholders of record on Wednesday, December 13th were paid a $0.05 dividend. The ex-dividend date was Tuesday, December 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.34%. Anadarko Petroleum’s dividend payout ratio (DPR) is presently -5.65%.
Anadarko Petroleum announced that its Board of Directors has initiated a share buyback program on Wednesday, September 20th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the oil and gas development company to repurchase up to 10% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
Several equities research analysts recently commented on APC shares. Scotiabank set a $62.00 price objective on shares of Anadarko Petroleum and gave the stock a “buy” rating in a research note on Saturday, November 25th. Royal Bank of Canada reissued a “buy” rating and set a $62.00 price objective on shares of Anadarko Petroleum in a research note on Friday, September 29th. Piper Jaffray Companies started coverage on shares of Anadarko Petroleum in a research note on Thursday, December 21st. They set an “overweight” rating and a $56.00 price objective on the stock. Barclays boosted their price objective on shares of Anadarko Petroleum from $39.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, December 21st. Finally, BMO Capital Markets raised shares of Anadarko Petroleum from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $53.00 to $57.00 in a research note on Friday, November 17th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and nineteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $65.00.
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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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