Key Points
- Blackstone Holdings sold 124,600 Anadarko Petroleum shares at an average price of $16.40, for total proceeds of approximately $2.04 million; the transaction was disclosed in an SEC filing.
- Anadarko shares opened at $16.11, near their 12-month low of $15.74. The company reported quarterly EPS of $0.26, below the $0.36 analyst consensus, although revenue rose 27.4% year over year to $1.84 billion.
- The company increased its quarterly dividend to $0.50 per share, representing an annualized dividend of $2.00 and a 12.4% yield. Analysts maintained a consensus “Moderate Buy” rating 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 firm's stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $16.40, for a total value of $2,043,440.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Anadarko Petroleum Stock Down 0.7%
NASDAQ:APC opened at $16.11 on Tuesday. Anadarko Petroleum Co. has a twelve month low of $15.74 and a twelve month high of $21.72. The company's 50 day moving average is $18.96 and its two-hundred day moving average is $19.04. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The company has a market cap of $202.50 million and a PE ratio of 23.35.
Anadarko Petroleum (NASDAQ:APC - Get Free Report) last announced its quarterly earnings data 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 company's revenue was up 27.4% compared to the same quarter last year. Analysts anticipate that Anadarko Petroleum Co. will post 0.95 EPS for the current year.
Anadarko Petroleum Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Tuesday, August 18th were given a $0.50 dividend. This is an increase from Anadarko Petroleum's previous quarterly dividend of $0.26. This represents a $2.00 dividend on an annualized basis and a yield of 12.4%. The ex-dividend date was Tuesday, August 18th. Anadarko Petroleum's payout ratio is currently 289.86%.
Institutional Trading of Anadarko Petroleum
Large investors have recently bought and sold shares of the business. State Street Corp purchased a new position in Anadarko Petroleum in the 2nd quarter worth approximately $2,536,000. Citadel Advisors LLC acquired a new position in shares of Anadarko Petroleum in the 2nd quarter valued at $4,579,000. Greenland Capital Management LP purchased a new position in Anadarko Petroleum during the second quarter worth about $264,000. Finally, Readystate Asset Management LP purchased a new stake in shares of Anadarko Petroleum in the 2nd quarter valued at approximately $1,696,000.
Wall Street Analyst Weigh In
APC has been the topic of several analyst reports. Mizuho raised their target price on Anadarko Petroleum from $20.00 to $22.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. 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. UBS Group dropped their target price on Anadarko Petroleum from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, August 12th. Finally, Zacks Research lowered Anadarko Petroleum from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.80.
View Our Latest Stock Analysis on APC
About Anadarko Petroleum
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
