134,521 Shares in Anadarko Petroleum Co. $APC Bought by State Street Corp

Key Points

• State Street Corp. acquired 134,521 Anadarko Petroleum shares worth approximately $2.54 million, giving it about a 1.07% stake. Several other institutional investors also initiated positions during the second quarter.
• Analyst views remain mixed, but the stock carries an overall “Moderate Buy” rating with an average price target of $21.80. Recent actions included UBS maintaining a buy rating, Mizuho issuing a neutral rating, and Zacks downgrading the stock to strong sell.
• Anadarko reported quarterly EPS of $0.26, below the $0.36 consensus estimate, while revenue rose 27.4% year over year to $1.84 billion. The company increased its quarterly dividend to $0.50, implying a 12.3% yield, despite a payout ratio near 290%.

State Street Corp bought a new stake in Anadarko Petroleum Co. (NASDAQ:APC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 134,521 shares of the oil and gas development company's stock, valued at approximately $2,536,000. State Street Corp owned approximately 1.07% of Anadarko Petroleum as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Citadel Advisors LLC purchased a new stake in Anadarko Petroleum in the second quarter valued at $4,579,000. Readystate Asset Management LP purchased a new position in shares of Anadarko Petroleum during the second quarter worth about $1,696,000. Finally, Greenland Capital Management LP acquired a new stake in shares of Anadarko Petroleum during the second quarter worth about $264,000.

Analyst Ratings Changes

A number of brokerages recently issued reports on APC. Mizuho upped their target price on Anadarko Petroleum from $20.00 to $22.00 and gave the company a "neutral" rating in a research report on Tuesday, July 28th. Zacks Research lowered Anadarko Petroleum from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 11th. Weiss Ratings raised Anadarko Petroleum from a "sell (e)" rating to a "hold (c)" rating in a report on Tuesday. Finally, UBS Group lowered their target price on shares of Anadarko Petroleum from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Anadarko Petroleum presently has an average rating of "Moderate Buy" and an average price target of $21.80.

Anadarko Petroleum Trading Down 3.2%

NASDAQ:APC opened at $16.23 on Friday. The stock has a market capitalization of $204.01 million and a price-to-earnings ratio of 23.52. Anadarko Petroleum Co. has a 1 year low of $15.85 and a 1 year high of $21.72. The stock has a fifty day moving average price of $19.06 and a two-hundred day moving average price of $19.06. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.18.

Anadarko Petroleum (NASDAQ:APC - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The oil and gas development company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.10). The firm had revenue of $1.84 billion for the quarter. The business's revenue for the quarter was up 27.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Anadarko Petroleum Co. will post 0.95 earnings per share for the current fiscal year.

Anadarko Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Tuesday, August 18th were issued a $0.50 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 12.3%. This is an increase from Anadarko Petroleum's previous quarterly dividend of $0.26. Anadarko Petroleum's payout ratio is currently 289.86%.

About Anadarko Petroleum

Anadarko Petroleum Corporation was an independent oil and natural gas exploration and production company headquartered in The Woodlands, Texas. The company focused on finding, developing and producing crude oil, natural gas and natural gas liquids, with operations spanning onshore and offshore assets.

Anadarko's U.S. activities included significant positions in the Delaware and DJ basins, the Gulf of Mexico and other domestic producing regions. Internationally, the company participated in exploration and development projects in countries including Algeria, Ghana, Mozambique and Peru.

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