PVG Asset Management Corp Reduces Holdings in Anadarko Petroleum Co. (APC)
PVG Asset Management Corp reduced its position in Anadarko Petroleum Co. (NYSE:APC) by 76.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,942 shares of the oil and gas development company’s stock after selling 44,238 shares during the quarter. PVG Asset Management Corp’s holdings in Anadarko Petroleum were worth $842,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APC. Franklin Resources Inc. boosted its holdings in Anadarko Petroleum by 13.1% in the fourth quarter. Franklin Resources Inc. now owns 14,853,841 shares of the oil and gas development company’s stock valued at $796,760,000 after purchasing an additional 1,723,576 shares in the last quarter. Boston Partners boosted its holdings in Anadarko Petroleum by 63.1% in the first quarter. Boston Partners now owns 7,176,573 shares of the oil and gas development company’s stock valued at $433,537,000 after purchasing an additional 2,777,166 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Anadarko Petroleum by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 5,382,643 shares of the oil and gas development company’s stock valued at $288,074,000 after purchasing an additional 48,739 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Anadarko Petroleum by 2.2% in the first quarter. Prudential Financial Inc. now owns 3,314,744 shares of the oil and gas development company’s stock valued at $200,244,000 after purchasing an additional 71,406 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its holdings in Anadarko Petroleum by 38.2% in the first quarter. Epoch Investment Partners Inc. now owns 2,760,910 shares of the oil and gas development company’s stock valued at $166,787,000 after purchasing an additional 762,465 shares in the last quarter. 88.92% of the stock is owned by institutional investors.
A number of brokerages recently issued reports on APC. Stifel Nicolaus set a $73.00 price target on Anadarko Petroleum and gave the company a “buy” rating in a report on Monday, April 23rd. Zacks Investment Research cut Anadarko Petroleum from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. SunTrust Banks began coverage on Anadarko Petroleum in a research note on Friday, May 18th. They issued a “hold” rating and a $70.00 price objective for the company. Royal Bank of Canada set a $72.00 price objective on Anadarko Petroleum and gave the company a “buy” rating in a research note on Monday, March 5th. Finally, UBS Group began coverage on Anadarko Petroleum in a research note on Wednesday, March 7th. They issued a “buy” rating and a $74.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company’s stock. Anadarko Petroleum presently has a consensus rating of “Buy” and an average price target of $67.60.
Anadarko Petroleum (NYSE:APC) last posted its quarterly earnings data on Tuesday, May 1st. The oil and gas development company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. Anadarko Petroleum had a negative return on equity of 3.44% and a negative net margin of 0.15%. The business had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the company earned ($0.60) earnings per share. The business’s revenue for the quarter was down 19.2% compared to the same quarter last year. equities analysts expect that Anadarko Petroleum Co. will post 2.92 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 27th. Investors of record on Wednesday, June 13th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 12th. This represents a $1.00 annualized dividend and a yield of 1.42%. Anadarko Petroleum’s dividend payout ratio (DPR) is presently -51.02%.
Anadarko Petroleum Company 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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