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

Anadarko Petroleum Co. (NASDAQ:APC) major shareholder Holdings L.P. Blackstone sold 124,600 shares of the company’s stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $16.40, for a total transaction of $2,043,440.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Anadarko Petroleum Stock Down 1.4%

Shares of NASDAQ:APC opened at $14.86 on Thursday. Anadarko Petroleum Co. has a 1 year low of $14.50 and a 1 year high of $21.72. The business has a 50 day simple moving average of $18.72 and a two-hundred day simple moving average of $18.98. The firm has a market capitalization of $186.79 million and a PE ratio of 21.54. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.18 and a quick ratio of 1.03.

Anadarko Petroleum (NASDAQ:APC) last issued 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 during the quarter. The company’s quarterly revenue was up 27.4% compared to the same quarter last year. On average, equities analysts predict that Anadarko Petroleum Co. will post 0.95 EPS for the current year.

Anadarko Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th were issued a $0.50 dividend. The ex-dividend date was Tuesday, August 18th. This is a boost from Anadarko Petroleum’s previous quarterly dividend of $0.26. This represents a $2.00 dividend on an annualized basis and a dividend yield of 13.5%. Anadarko Petroleum’s dividend payout ratio (DPR) is currently 289.86%.

Wall Street Analysts Forecast Growth

APC has been the subject of several research reports. Mizuho boosted their price objective on shares of Anadarko Petroleum from $20.00 to $22.00 and gave the company a “neutral” rating in a research 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. Zacks Research lowered Anadarko Petroleum from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Finally, UBS Group reduced their price objective on Anadarko Petroleum from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.80.

Institutional Investors Weigh In On Anadarko Petroleum

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

About Anadarko Petroleum

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.