First American Bank Acquires New Stake in Anadarko Petroleum Co. (APC)
First American Bank acquired a new position in Anadarko Petroleum Co. (NYSE:APC) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,142 shares of the oil and gas development company’s stock, valued at approximately $1,156,000.
Several other hedge funds have also recently made changes to their positions in APC. Moneta Group Investment Advisors LLC purchased a new position in shares of Anadarko Petroleum in the second quarter valued at $170,000. NN Investment Partners Holdings N.V. purchased a new position in shares of Anadarko Petroleum in the second quarter valued at $182,000. Kiley Juergens Wealth Management LLC purchased a new position in shares of Anadarko Petroleum in the second quarter valued at $182,000. Lido Advisors LLC purchased a new position in shares of Anadarko Petroleum in the second quarter valued at $202,000. Finally, Beaton Management Co. Inc. purchased a new position in shares of Anadarko Petroleum in the second quarter valued at $202,000. Institutional investors and hedge funds own 86.25% of the company’s stock.
Anadarko Petroleum stock opened at $68.28 on Wednesday. The stock has a market cap of $34.52 billion, a P/E ratio of -34.84, a P/E/G ratio of 1.88 and a beta of 1.26. Anadarko Petroleum Co. has a 52 week low of $46.74 and a 52 week high of $76.70. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.85 and a quick ratio of 0.85.
Anadarko Petroleum announced that its Board of Directors has initiated a share repurchase program on Monday, July 9th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the oil and gas development company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 26th. Investors of record on Wednesday, September 12th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Tuesday, September 11th. Anadarko Petroleum’s dividend payout ratio is presently -51.02%.
APC has been the subject of a number of research analyst reports. Morgan Stanley initiated coverage on Anadarko Petroleum in a research report on Thursday, July 12th. They issued an “equal weight” rating and a $86.00 price target for the company. ValuEngine cut Anadarko Petroleum from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Piper Jaffray Companies set a $85.00 price target on Anadarko Petroleum and gave the company a “buy” rating in a research report on Sunday, September 30th. Bank of America set a $100.00 price target on Anadarko Petroleum and gave the company a “buy” rating in a research report on Tuesday, September 4th. Finally, Stifel Nicolaus set a $82.00 price target on Anadarko Petroleum and gave the company a “buy” rating in a research report on Wednesday, August 29th. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $81.37.
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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