USA Financial Portformulas Corp boosted its stake in shares of Anadarko Petroleum Co. (NYSE:APC) by 1,313.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 54,138 shares of the oil and gas development company’s stock after acquiring an additional 50,308 shares during the period. Anadarko Petroleum comprises about 1.0% of USA Financial Portformulas Corp’s holdings, making the stock its 27th biggest holding. USA Financial Portformulas Corp’s holdings in Anadarko Petroleum were worth $3,966,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. TRUE Private Wealth Advisors acquired a new position in Anadarko Petroleum during the third quarter worth $163,000. Moneta Group Investment Advisors LLC acquired a new position in Anadarko Petroleum during the second quarter worth $170,000. NN Investment Partners Holdings N.V. acquired a new position in Anadarko Petroleum during the second quarter worth $182,000. Kiley Juergens Wealth Management LLC acquired a new position in Anadarko Petroleum during the second quarter worth $182,000. Finally, Lido Advisors LLC acquired a new position in Anadarko Petroleum during the second quarter worth $202,000. Institutional investors own 85.95% of the company’s stock.
A number of equities analysts have weighed in on the stock. Credit Suisse Group set a $89.00 price objective on shares of Anadarko Petroleum and gave the stock a “buy” rating in a research report on Wednesday. Piper Jaffray Companies restated a “buy” rating and set a $89.00 price objective on shares of Anadarko Petroleum in a research report on Friday, July 20th. Guggenheim reiterated a “buy” rating and issued a $79.00 target price on shares of Anadarko Petroleum in a research report on Thursday. Seaport Global Securities reiterated a “buy” rating on shares of Anadarko Petroleum in a research report on Wednesday, July 25th. Finally, Stifel Nicolaus increased their target price on shares of Anadarko Petroleum from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, July 10th. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $81.95.
Anadarko Petroleum (NYSE:APC) last released its quarterly earnings data on Tuesday, October 30th. The oil and gas development company reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.02). Anadarko Petroleum had a return on equity of 8.70% and a net margin of 11.49%. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the previous year, the business posted ($0.77) earnings per share. Anadarko Petroleum’s revenue for the quarter was up 48.1% on a year-over-year basis. As a group, equities research analysts predict that Anadarko Petroleum Co. will post 3.06 earnings per share for the current year.
Anadarko Petroleum announced that its board has initiated a stock buyback program on Monday, July 9th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the oil and gas development company to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
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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