Anadarko Petroleum Corporation (APC) Shares Sold by BlackRock Advisors LLC

Anadarko Petroleum Corporation (APC) Shares Sold by BlackRock Advisors LLC

BlackRock Advisors LLC lowered its position in Anadarko Petroleum Corporation (NYSE:APC) by 4.6% during the third quarter, Holdings Channel reports. The institutional investor owned 7,450,444 shares of the oil and gas development company’s stock after selling 355,325 shares during the period. BlackRock Advisors LLC owned approximately 1.33% of Anadarko Petroleum Corporation worth $472,060,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of APC. BlackRock Japan Co. Ltd raised its stake in shares of Anadarko Petroleum Corporation by 7.4% in the third quarter. BlackRock Japan Co. Ltd now owns 756,927 shares of the oil and gas development company’s stock worth $47,959,000 after buying an additional 51,922 shares in the last quarter. NTV Asset Management LLC raised its stake in shares of Anadarko Petroleum Corporation by 9.7% in the third quarter. NTV Asset Management LLC now owns 12,450 shares of the oil and gas development company’s stock worth $518,000 after buying an additional 1,100 shares in the last quarter. BBT Capital Management LLC raised its stake in shares of Anadarko Petroleum Corporation by 2.7% in the third quarter. BBT Capital Management LLC now owns 38,306 shares of the oil and gas development company’s stock worth $2,427,000 after buying an additional 1,000 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in shares of Anadarko Petroleum Corporation during the third quarter worth about $891,000. Finally, Palladium Partners LLC raised its stake in shares of Anadarko Petroleum Corporation by 8.1% in the third quarter. Palladium Partners LLC now owns 4,813 shares of the oil and gas development company’s stock worth $305,000 after buying an additional 360 shares in the last quarter. 87.01% of the stock is owned by hedge funds and other institutional investors.

Anadarko Petroleum Corporation (NYSE:APC) opened at 70.40 on Friday. The company has a 50-day moving average price of $70.48 and a 200-day moving average price of $62.39. Anadarko Petroleum Corporation has a 12-month low of $33.85 and a 12-month high of $73.33. The firm’s market capitalization is $38.79 billion.

Anadarko Petroleum Corporation (NYSE:APC) last posted its quarterly earnings results on Tuesday, January 31st. The oil and gas development company reported ($0.50) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.44) by $0.06. Anadarko Petroleum Corporation had a negative net margin of 39.03% and a negative return on equity of 10.57%. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the previous year, the business posted ($0.57) earnings per share. Anadarko Petroleum Corporation’s revenue was up 16.3% on a year-over-year basis. On average, analysts predict that Anadarko Petroleum Corporation will post $0.44 earnings per share for the current year.

Several research firms have commented on APC. TheStreet upgraded Anadarko Petroleum Corporation from a “d+” rating to a “c-” rating in a report on Friday. Credit Suisse Group restated a “buy” rating and set a $82.00 price objective on shares of Anadarko Petroleum Corporation in a report on Sunday. RBC Capital Markets restated a “buy” rating and set a $81.00 price objective on shares of Anadarko Petroleum Corporation in a report on Wednesday, January 4th. Cowen and Company set a $86.00 price objective on Anadarko Petroleum Corporation and gave the stock a “buy” rating in a report on Thursday. Finally, Citigroup Inc. downgraded Anadarko Petroleum Corporation to a “market perform” rating and reduced their price objective for the stock from $80.00 to $70.00 in a report on Tuesday, January 3rd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $75.41.

About Anadarko Petroleum Corporation

Anadarko Petroleum Corporation (Anadarko) is an independent exploration and production company. The Company’s segments include Oil and Gas Exploration & Production; Midstream, and Marketing. The Oil and Gas Exploration & Production segment explores for and produces oil, condensate, natural gas and natural gas liquids (NGLs), and focuses on the development and operation of the Company’s liquefied natural gas (LNG) project in Mozambique.

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