Readystate Asset Management LP Purchases New Holdings in Anadarko Petroleum Co. $APC

Key Points

• Readystate Asset Management purchased 90,000 Anadarko Petroleum shares worth approximately $1.7 million, representing about 0.72% of the company.
• Analyst sentiment was mixed, with the stock carrying an overall “Hold” rating and a consensus price target of $21.80.
• Anadarko reported quarterly EPS of $0.26, below the $0.36 consensus estimate, while revenue rose 27.4% year over year. The company also increased its quarterly dividend to $0.50, implying a 10.5% yield, though its payout ratio reached nearly 290%.

Readystate Asset Management LP purchased a new stake in Anadarko Petroleum Co. (NASDAQ:APC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 90,000 shares of the oil and gas development company's stock, valued at approximately $1,696,000. Readystate Asset Management LP owned approximately 0.72% of Anadarko Petroleum as of its most recent SEC filing.

Wall Street Analysts Forecast Growth

APC has been the subject of several recent analyst reports. Mizuho increased their price objective on Anadarko Petroleum from $20.00 to $22.00 and gave the company a "neutral" rating in a report on Tuesday, July 28th. UBS Group dropped their price target 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. Weiss Ratings reiterated a "sell (e)" rating on shares of Anadarko Petroleum in a research note on Tuesday, August 25th. Finally, Zacks Research downgraded shares of Anadarko Petroleum from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Anadarko Petroleum presently has an average rating of "Hold" and a consensus price target of $21.80.

Anadarko Petroleum Stock Performance

APC opened at $18.99 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 1.09. Anadarko Petroleum Co. has a 12-month low of $17.00 and a 12-month high of $21.72. The business has a 50 day moving average of $19.39 and a 200-day moving average of $19.13. The stock has a market cap of $238.70 million and a price-to-earnings ratio of 27.52.

Anadarko Petroleum (NASDAQ:APC - Get Free Report) last posted its 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 company had revenue of $1.84 billion during the quarter. The business's revenue for the quarter was up 27.4% compared to the same quarter last year. On average, equities research analysts expect that Anadarko Petroleum Co. will post 0.95 earnings per share for the current year.

Anadarko Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This is a boost from Anadarko Petroleum's previous quarterly dividend of $0.26. This represents a $2.00 annualized dividend and a dividend yield of 10.5%. Anadarko Petroleum's payout ratio is currently 289.86%.

About Anadarko Petroleum

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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