Sabal Trust CO purchased a new position in shares of Apache Corp. (NYSE:APA) during the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 3,626 shares of the energy company’s stock, valued at approximately $202,000.
Several other hedge funds also recently made changes to their positions in APA. Dodge & Cox increased its position in Apache Corp. by 12.5% in the first quarter. Dodge & Cox now owns 29,259,714 shares of the energy company’s stock worth $1,428,167,000 after buying an additional 3,245,030 shares during the last quarter. State Street Corp boosted its stake in Apache Corp. by 1.7% in the first quarter. State Street Corp now owns 18,912,725 shares of the energy company’s stock worth $923,131,000 after buying an additional 323,381 shares during the last quarter. Orbis Allan Gray Ltd purchased a new stake in Apache Corp. during the first quarter worth approximately $746,349,000. BlackRock Fund Advisors boosted its stake in Apache Corp. by 0.3% in the first quarter. BlackRock Fund Advisors now owns 5,132,368 shares of the energy company’s stock worth $250,511,000 after buying an additional 13,486 shares during the last quarter. Finally, BlackRock Group LTD boosted its stake in Apache Corp. by 7.4% in the first quarter. BlackRock Group LTD now owns 4,036,362 shares of the energy company’s stock worth $197,015,000 after buying an additional 279,015 shares during the last quarter. 91.25% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Apache Corp. (NYSE:APA) traded up 1.35% during trading on Wednesday, reaching $64.65. 3,451,217 shares of the company’s stock were exchanged. Apache Corp. has a 12-month low of $32.20 and a 12-month high of $66.00. The company’s market capitalization is $24.53 billion. The stock has a 50-day moving average price of $56.64 and a 200 day moving average price of $54.32.
Apache Corp. (NYSE:APA) last issued its earnings results on Thursday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.09. Apache Corp. had a negative return on equity of 4.16% and a negative net margin of 261.91%. The company earned $1.38 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the business earned $0.22 earnings per share. The firm’s revenue was down 38.5% compared to the same quarter last year. Equities analysts expect that Apache Corp. will post ($0.71) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Friday, October 21st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Wednesday, October 19th. Apache Corp.’s dividend payout ratio (DPR) is presently -2.78%.
A number of equities research analysts have commented on APA shares. Credit Agricole SA started coverage on shares of Apache Corp. in a research note on Wednesday, June 22nd. They set an “underperform” rating on the stock. Wells Fargo & Co. restated an “outperform” rating on shares of Apache Corp. in a research note on Wednesday, July 6th. Jefferies Group restated a “sell” rating on shares of Apache Corp. in a research note on Thursday, August 4th. Barclays PLC cut shares of Apache Corp. from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $45.00 to $49.00 in a research note on Friday, August 5th. They noted that the move was a valuation call. Finally, Citigroup Inc. cut shares of Apache Corp. from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $55.00 to $53.00 in a research note on Tuesday, August 9th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $57.92.
In other news, insider Rebecca A. Hoyt sold 3,356 shares of the stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $60.94, for a total transaction of $204,514.64. Following the completion of the transaction, the insider now directly owns 12,755 shares in the company, valued at approximately $777,289.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.40% of the stock is owned by company 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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