Citadel Advisors LLC Buys Shares of 242,930 Anadarko Petroleum Co. $APC

Key Points

• Citadel Advisors initiated a position in Anadarko Petroleum, purchasing 242,930 shares valued at approximately $4.58 million, or about 1.93% of the company.
• Analyst sentiment remains mixed: the stock has an average “Hold” rating and a consensus price target of $21.80, with recent targets ranging from $21 to $22.
• Anadarko reported quarterly EPS of $0.26, below the $0.36 consensus estimate, while revenue rose 27.4% year over year. The company increased its quarterly dividend to $0.50, implying a 10.5% annualized yield.

Citadel Advisors LLC bought a new position in Anadarko Petroleum Co. (NASDAQ:APC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 242,930 shares of the oil and gas development company's stock, valued at approximately $4,579,000. Citadel Advisors LLC owned approximately 1.93% of Anadarko Petroleum as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. California State Teachers Retirement System bought a new position in shares of Anadarko Petroleum during the 2nd quarter valued at $60,000. Greenland Capital Management LP bought a new stake in Anadarko Petroleum in the second quarter worth $264,000. Finally, Readystate Asset Management LP bought a new stake in Anadarko Petroleum in the second quarter worth $1,696,000.

Analysts Set New Price Targets

Several research firms have weighed in on APC. Mizuho raised their target price on Anadarko Petroleum from $20.00 to $22.00 and gave the company a "neutral" rating in a report on Tuesday, July 28th. Zacks Research downgraded Anadarko Petroleum from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 11th. Weiss Ratings reissued a "sell (e)" rating on shares of Anadarko Petroleum in a report on Tuesday, August 25th. Finally, UBS Group cut their price objective on Anadarko Petroleum from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $21.80.

Anadarko Petroleum Price Performance

Anadarko Petroleum stock opened at $18.99 on Tuesday. The firm has a market cap of $238.70 million and a price-to-earnings ratio of 27.52. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.18 and a quick ratio of 1.03. Anadarko Petroleum Co. has a fifty-two week low of $17.00 and a fifty-two week high of $21.72. The firm has a fifty day moving average price of $19.39 and a two-hundred day moving average price of $19.13.

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

Anadarko Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Tuesday, August 18th were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $2.00 annualized dividend and a yield of 10.5%. This is an increase from Anadarko Petroleum's previous quarterly dividend of $0.26. Anadarko Petroleum's dividend payout ratio (DPR) is presently 289.86%.

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). It is also involved in gathering, processing, treating, and transporting oil, natural-gas, and NGLs production, as well as the gathering and disposal of produced water. The company's oil and natural gas properties are located in the United States onshore and deepwater Gulf of Mexico; and Algeria, Ghana, Mozambique, Colombia, Peru, and other countries.

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