Anadarko Petroleum (APC) Sets New 1-Year High and Low Following Dividend Announcement

Anadarko Petroleum (NYSE:APC) shares reached a new 52-week high and low during mid-day trading on Tuesday following a dividend announcement from the company. The stock traded as low as $70.09 and last traded at $69.57, with a volume of 189410 shares changing hands. The stock had previously closed at $69.01.

The newly announced dividend which will be paid on Wednesday, June 27th. Shareholders of record on Wednesday, June 13th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Tuesday, June 12th. Anadarko Petroleum’s dividend payout ratio (DPR) is presently -51.02%.

Get Anadarko Petroleum alerts:

Several research firms have commented on APC. Macquarie raised shares of Anadarko Petroleum from a “neutral” rating to an “outperform” rating and set a $70.00 price objective on the stock in a report on Thursday, February 8th. Stifel Nicolaus set a $75.00 price objective on shares of Anadarko Petroleum and gave the company a “buy” rating in a report on Wednesday, March 28th. Jefferies Group reaffirmed a “buy” rating and set a $78.00 price objective on shares of Anadarko Petroleum in a report on Thursday, February 8th. Zacks Investment Research raised shares of Anadarko Petroleum from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Wednesday, February 21st. Finally, Piper Jaffray set a $74.00 price objective on shares of Anadarko Petroleum and gave the company a “buy” rating in a report on Wednesday, March 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $67.47.

The firm has a market capitalization of $35.64 billion, a PE ratio of -35.88, a PEG ratio of 2.87 and a beta of 1.26. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.33.

Anadarko Petroleum (NYSE:APC) last announced its quarterly earnings results on Tuesday, May 1st. The oil and gas development company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. Anadarko Petroleum had a negative net margin of 0.15% and a negative return on equity of 3.44%. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the firm posted ($0.60) earnings per share. The company’s revenue for the quarter was down 19.2% on a year-over-year basis. analysts anticipate that Anadarko Petroleum will post 2.41 EPS for the current fiscal year.

Anadarko Petroleum declared that its board has authorized a stock buyback program on Wednesday, February 7th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas development company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Several hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. increased its position in shares of Anadarko Petroleum by 13.1% in the fourth quarter. Franklin Resources Inc. now owns 14,853,841 shares of the oil and gas development company’s stock worth $796,760,000 after purchasing an additional 1,723,576 shares during the last quarter. Boston Partners increased its position in shares of Anadarko Petroleum by 63.1% in the first quarter. Boston Partners now owns 7,176,573 shares of the oil and gas development company’s stock worth $433,537,000 after purchasing an additional 2,777,166 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Anadarko Petroleum by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 5,382,643 shares of the oil and gas development company’s stock worth $288,074,000 after purchasing an additional 48,739 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Anadarko Petroleum by 2.2% in the first quarter. Prudential Financial Inc. now owns 3,314,744 shares of the oil and gas development company’s stock worth $200,244,000 after purchasing an additional 71,406 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Anadarko Petroleum by 2.8% in the fourth quarter. Bessemer Group Inc. now owns 2,767,247 shares of the oil and gas development company’s stock worth $148,436,000 after purchasing an additional 74,461 shares during the last quarter. Institutional investors own 91.33% of the company’s stock.

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).