Anadarko Petroleum (NASDAQ:APC) Major Shareholder Sells $2,043,440.00 in Stock

Key Points

• Blackstone Holdings sold 124,600 Anadarko Petroleum shares at an average price of $16.40, generating approximately $2.04 million; the transaction was disclosed in an SEC filing.
• Anadarko shares traded at $16.11, near the lower end of their 12-month range, while the company reported quarterly EPS of $0.26—below the $0.36 analyst consensus—despite revenue rising 27.4% year over year.
• The company increased its quarterly dividend to $0.50 per share, implying a 12.4% yield, although its payout ratio stood at 289.86%. Analysts maintained a mixed but overall “Moderate Buy” consensus with an average price target of $21.80.

Anadarko Petroleum Co. (NASDAQ:APC - Get Free Report) major shareholder Holdings L.P. Blackstone sold 124,600 shares of the business's stock in a transaction on Friday, September 25th. The shares were sold at an average price of $16.40, for a total transaction of $2,043,440.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Anadarko Petroleum Stock Performance

Anadarko Petroleum stock traded down $0.12 during mid-day trading on Monday, hitting $16.11. The company had a trading volume of 176,014 shares, compared to its average volume of 169,415. The company has a market capitalization of $202.50 million and a price-to-earnings ratio of 23.35. Anadarko Petroleum Co. has a 12-month low of $15.74 and a 12-month high of $21.72. The company's fifty day moving average is $19.06 and its 200-day moving average is $19.06. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09.

Anadarko Petroleum (NASDAQ:APC - Get Free Report) last announced 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 analysts' consensus estimates of $0.36 by ($0.10). The company had revenue of $1.84 billion for the quarter. The company's revenue was up 27.4% compared to the same quarter last year. Equities research analysts predict that Anadarko Petroleum Co. will post 0.95 EPS for the current year.

Anadarko Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 12.4%. The ex-dividend date of this dividend was Tuesday, August 18th. This is a positive change from Anadarko Petroleum's previous quarterly dividend of $0.26. Anadarko Petroleum's dividend payout ratio is currently 289.86%.

Hedge Funds Weigh In On Anadarko Petroleum

Several hedge funds and other institutional investors have recently modified their holdings of the business. Citadel Advisors LLC purchased a new position in shares of Anadarko Petroleum during the 2nd quarter worth $4,579,000. Readystate Asset Management LP purchased a new stake in shares of Anadarko Petroleum in the second quarter valued at about $1,696,000. State Street Corp acquired a new stake in Anadarko Petroleum during the second quarter worth about $2,536,000. Finally, Greenland Capital Management LP acquired a new stake in Anadarko Petroleum during the second quarter worth about $264,000.

Analyst Ratings Changes

APC has been the subject of a number of research analyst reports. UBS Group reduced their price objective on shares of Anadarko Petroleum from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, August 12th. Mizuho boosted their target price on shares of Anadarko Petroleum from $20.00 to $22.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 28th. Zacks Research downgraded shares of Anadarko Petroleum from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings raised shares of Anadarko Petroleum from a "sell (e)" rating to a "hold (c)" rating in a research note on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $21.80.

Anadarko Petroleum Company Profile

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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