North Point Portfolio Managers Corp OH lowered its stake in Apache Corp. (NYSE:APA) by 4.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 97,406 shares of the energy company’s stock after selling 4,306 shares during the period. North Point Portfolio Managers Corp OH’s holdings in Apache Corp. were worth $5,423,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Orbis Allan Gray Ltd acquired a new position in shares of Apache Corp. during the first quarter valued at about $746,349,000. Legal & General Group Plc boosted its position in shares of Apache Corp. by 7.4% in the first quarter. Legal & General Group Plc now owns 1,934,901 shares of the energy company’s stock valued at $94,439,000 after buying an additional 134,090 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Apache Corp. by 43.6% in the first quarter. Envestnet Asset Management Inc. now owns 92,870 shares of the energy company’s stock valued at $4,533,000 after buying an additional 28,204 shares during the period. Williams Jones & Associates LLC acquired a new position in shares of Apache Corp. during the first quarter valued at about $120,000. Finally, State Street Corp boosted its position in shares of Apache Corp. by 1.7% in the first quarter. State Street Corp now owns 18,912,725 shares of the energy company’s stock valued at $923,131,000 after buying an additional 323,381 shares during the period. 91.25% of the stock is owned by hedge funds and other institutional investors.
Apache Corp. (NYSE:APA) traded down 0.13% during midday trading on Monday, hitting $59.94. 3,945,899 shares of the stock were exchanged. Apache Corp. has a 12-month low of $32.20 and a 12-month high of $62.19. The stock’s market cap is $22.74 billion. The firm has a 50 day moving average of $54.05 and a 200-day moving average of $53.51.
Apache Corp. (NYSE:APA) last announced its quarterly earnings results on Thursday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.09. The company earned $1.38 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Apache Corp. had a negative net margin of 261.91% and a negative return on equity of 4.16%. The business’s revenue for the quarter was down 38.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 EPS. On average, equities analysts expect that Apache Corp. will post ($0.69) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Friday, October 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.67%. Apache Corp.’s dividend payout ratio is presently -2.78%.
APA has been the subject of several recent research reports. Barclays PLC raised their target price on shares of Apache Corp. from $50.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 13th. Atlantic Securities raised shares of Apache Corp. from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $41.00 to $70.00 in a report on Monday, September 12th. Deutsche Bank AG raised their target price on shares of Apache Corp. from $53.00 to $57.00 and gave the stock a “hold” rating in a report on Thursday, September 8th. Vetr cut shares of Apache Corp. from a “hold” rating to a “sell” rating and set a $51.00 price objective for the company. in a report on Monday, August 22nd. Finally, Raymond James Financial Inc. lifted their price objective on shares of Apache Corp. from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, September 8th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and nine have given a buy rating to the company. Apache Corp. currently has an average rating of “Hold” and an average price target of $57.92.
In other news, insider Rebecca A. Hoyt sold 3,356 shares of the stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $60.94, for a total value of $204,514.64. Following the completion of the transaction, the insider now owns 12,755 shares in the company, valued at approximately $777,289.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is currently owned by insiders.
About Apache Corp.
Apache Corporation (Apache) is an independent energy company. Both domestically and internationally, the Company explores for, develops and produces natural gas, crude oil and natural gas liquids. The Company has exploration and production interests in four countries: the United States, Canada, Egypt, and the United Kingdom (North Sea).
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