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DNB Asset Management AS Decreases Stock Position in Anadarko Petroleum Co. (NYSE:APC)

By August 18, 2019 No Comments

DNB Asset Management AS lowered its stake in shares of Anadarko Petroleum Co. (NYSE:APC) by 97.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,842 shares of the oil and gas development company’s stock after selling 2,160,060 shares during the quarter. DNB Asset Management AS’s holdings in Anadarko Petroleum were worth $3,940,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in APC. Kaizen Advisory LLC raised its stake in Anadarko Petroleum by 24.2% during the fourth quarter. Kaizen Advisory LLC now owns 1,390 shares of the oil and gas development company’s stock worth $61,000 after acquiring an additional 271 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. raised its stake in Anadarko Petroleum by 4.1% during the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 9,344 shares of the oil and gas development company’s stock worth $425,000 after acquiring an additional 370 shares in the last quarter. Cibc Bank USA raised its stake in Anadarko Petroleum by 37.5% during the first quarter. Cibc Bank USA now owns 13,511 shares of the oil and gas development company’s stock worth $614,000 after acquiring an additional 3,688 shares in the last quarter. HRT Financial LLC acquired a new position in Anadarko Petroleum during the fourth quarter worth $440,000. Finally, Wellington Shields & Co. LLC raised its stake in Anadarko Petroleum by 10.0% during the first quarter. Wellington Shields & Co. LLC now owns 22,100 shares of the oil and gas development company’s stock worth $1,005,000 after acquiring an additional 2,000 shares in the last quarter. 85.17% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:APC remained flat at $$72.77 during trading on Friday. The company’s stock had a trading volume of 44,791,047 shares, compared to its average volume of 6,979,022. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.95. The stock has a market capitalization of $36.56 billion, a PE ratio of 32.20, a price-to-earnings-growth ratio of 5.64 and a beta of 1.64. Anadarko Petroleum Co. has a 52-week low of $40.40 and a 52-week high of $76.23. The firm has a fifty day simple moving average of $72.58 and a two-hundred day simple moving average of $61.69.

Anadarko Petroleum (NYSE:APC) last posted its earnings results on Friday, July 26th. The oil and gas development company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.31 billion. Anadarko Petroleum had a positive return on equity of 10.49% and a negative net margin of 4.20%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 earnings per share. As a group, sell-side analysts predict that Anadarko Petroleum Co. will post 1.97 EPS for the current fiscal year.

A number of analysts have recently weighed in on APC shares. Credit Suisse Group lowered Anadarko Petroleum from an “outperform” rating to a “neutral” rating in a research note on Monday, May 13th. Tudor Pickering lowered Anadarko Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Jefferies Financial Group lowered Anadarko Petroleum from a “buy” rating to a “hold” rating and set a $79.00 target price for the company. in a research note on Thursday, April 25th. MKM Partners raised their target price on Anadarko Petroleum to $73.00 and gave the company a “neutral” rating in a research note on Tuesday, April 30th. Finally, Morgan Stanley raised their price target on Anadarko Petroleum from $60.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and five have issued a buy rating to the company. Anadarko Petroleum presently has a consensus rating of “Hold” and an average price target of $70.25.

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).

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Institutional Ownership by Quarter for Anadarko Petroleum (NYSE:APC)

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