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Anadarko Petroleum Corporation

5/24/2013, 10:54 PM ET

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Wednesday, May 22, 11:07 AM AIG remains at the top Goldman's list of hedge fund hotels (the 50 stocks appearing most frequently among hedge fund top 10 holdings). Google (GOOG) retains its #2 position. Apple (APPL) - in the top spot for 3 years until February - remains at #3. Goldman notes the basket has outperformed the S&P a bit this year and the top 20 has done better by more than 1000 basis points. We smell an ETF offering. The rest of the top 20: C, GM, PCLN, VMED, NWSA, MSFT, HTZ, JPM, APC, PFE, QCOM, CHTR, HES, CBS, EBAY, DAL, EQIX. 4 Comments
Monday, May 20, 1:00 PM Themis Trading's Joe Saluzzi says SEC rules designed to head off so-called "flash crashes" might have failed to arrest Anadarko's (APC +1.6%) plunge from over $90 per share to just a penny Friday afternoon because during the first phase of the rules' implementation, restrictions "don't apply after 3:30 p.m." Saluzzi also notes that the APC experience shows that "limit orders are mostly placed by short term, hyper speed 'liquidity providers' who quickly cancel at the [first] sign of trouble." Comment!
Monday, May 20, 12:40 PM Wall Street cheers Chesapeake's (CHK +4%) appointment of Doug Lawler as CEO as a vote of confidence in CHK after building a strong reputation at Anadarko (APC). While hopeful the move will improve capital discipline and allocation decisions, Tudor Pickering cautions it will be a steep wall to climb "given the balance sheet leverage and need to materially sell assets into a weak [acquisitions] market." 3 Comments [Energy, On the Move]
Monday, May 20, 5:15 AM Directors at Chesapeake Energy (CHK) recruit Anadarko (APC) senior VP of international and deep-water operations Robert Douglas Lawler to succeed Aubrey McClendon as CEO, WSJ says. Lawler, a seasoned industry veteran, will join CHK on June 17 and says he "looks forward to generating value for shareholders in the years ahead." Besides plugging a multi-billion dollar gap between the company's spending and cash flow, Lawler's greatest challenge might be dealing with McClendon, whose contractual well investment rights mean he will likely be a part of the picture at CHK even if he isn't at the helm. 4 Comments [Energy, Top Stories]
Friday, May 17, 5:14 PM The NYSE cancels rogue trades in Anadarko Petroleum (APC) from the final second of the trading day that took the stock from $90 to one cent in some trades. NYSE initiated a "clearly erroneous execution review,” resulting in cancellation of trades executed at or below $87.56/share in that last second. 5 Comments [Energy]
Wednesday, May 15, 6:03 PM Third Point discloses new positions in: Anadarko Petroleum (APC), BE Aerospace (BEAV), Cabot Oil (COG), Chimera Investment (CIM), Hess (HES), Hilshire Brands (HSH), Tiffany (TIF), Thermo Fisher (TMO), and Virgin Media (MMED). It raises stakes in: AbbVie (ABBV) and International Paper (IP), and exits Abbott Labs (ABT), Capital One (COF), Coca-Cola Enterprises (CCE), Herbalife (HLF), Illumina (ILMN), MetLife (MET), Morgan Stanley (MS) and Tesoro (TSO). (13-F) 4 Comments
Wednesday, May 15, 11:22 AM As Anadarko (APC -1.7%) Chairman Jim Hackett steps down, CEO Al Walker’s biggest challenge is convincing investors nothing will change. Walker takes on the dual role of CEO and chairman as other energy producers are separating the jobs, but APC shareholders aren't upset at poor stock performance; shares have soared 33% during Walker’s CEO tenure. Analyst Fadel Gheit's advice: "Don't screw it up." Comment! [Energy, On the Move]
Wednesday, May 15, 8:37 AM Anadarko Petroleum Corporation (APC) declares $0.09/share quarterly dividend, in line with previous. Forward yield 0.41%. For shareholders of record June 12. Payable June 26. Ex-div date June 10. (PR) Comment! [Dividends]
Tuesday, May 14, 4:42 PM Anadarko Petroleum (APC) may complete a deal in the coming weeks to sell a stake in a drilling prospect off the coast of Mozambique, and agreement on a sale of Brazilian assets also may be reached this year, CEO Al Walker says. APC owns a 36.5% stake in Offshore Area 1 of Mozambique’s Rovuma Basin and has discussed reducing it to 26.5%, and has exploration interests in ~750K gross acres offshore Brazil. Comment! [Energy]
Friday, May 10, 12:55 PM Anadarko Petroleum (APC -1.2%) is rich in catalysts and cheap on valuation, Jefferies says in reiterating its Buy rating, lifting its price target to $111 from $96, and raising EPS estimates for Q2, FY 2013 and '14. The firm cites a potential Mozambique JV and Gulf of Mexico exploration results; Tronox remains an overhang, but APC has enough valuation upside and liquidity to absorb a hit. 1 Comment [Energy, Quick Ideas]
Tuesday, May 7, 3:40 PM Algeria's Sonatrach and U.S. partner Anadarko Petroleum (APC +0.9%) begin first production at the $4.5B El Merk oil complex in the Algerian Sahara, good news for the country's critical energy sector after January's terrorist attack. The complex, which includes a plant to process the hydrocarbons, is expected to produce 127K bbl/day of crude oil and condensates by year-end. Comment! [Energy, Global & FX]
Tuesday, May 7, 12:32 PM Anadarko Petroleum (APC -0.2%) beat Q1 expectations while expecting a 6% drop in Q2 production due mostly to downtime in the Gulf of Mexico and temporary Eagle Ford shut-ins. But APC is usually extra conservative early in the year with its estimates, UBS notes; in the end, it comes through - production last year rose 7.6% vs. guidance of a 3%-5% increase at the beginning of the year. Comment! [Energy]
Tuesday, May 7, 11:38 AM Kosmos Energy (KOS +0.2%) says it plans to invest $400M in its Ghana operations in 2013 as part of its commitments to the country's Jubilee oilfield. KOS holds a 24% stake in Jubilee, which started pumping oil in 2010 and has hit production of ~110K bbl/day. The field should ramp up to 120K bbl/day by Q3 after an upgrade at its producing facility, Anadarko (APC) says. Comment! [Energy, Global & FX]
Monday, May 6, 4:56 PM More on Anadarko's (APC) Q1 results: Sales volumes grew 13% to a record 793K boe/day from 704K boe/day in a year ago. Increased 2013 sales volume guidance to 279M-287M boe from its previous view for 279M-285M. Says it monetized more than $1.2B of assets, including the $860M carried interest agreement at Heidelberg. Shares +0.4% AH. Comment! [Energy, Earnings]
Monday, May 6, 4:28 PM Anadarko Petroleum (APC): Q1 EPS of $1.08 beats by $0.14. Revenue of $3.89B (+12.9% Y/Y) beats by $440M. Shares +1% AH. (PR) Comment! [Earnings, Energy, On the Move, Breaking News]
Monday, May 6, 12:10 AM Notable earnings after Monday’s close: ALNY, AMTG, APC, ARRY, BSFT, CECO, CHUY, DPM, ENOC, EOG, FSLR, FST, FTR, GDP, GSM, GWAY, HIMX, HOLX, LGCY, MELI, MKTG, MMLP, MR, NOG, NRP, OTTR, PAA, PEGA, PNG, RKUS, SGY, SMG, SNTS, STAG, VNO, WMS Comment! [Earnings]

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