Kanawha Capital Management LLC raised its stake in Apache Corp. (NYSE:APA) by 1.7% during the second quarter, Holdings Channel reports. The institutional investor owned 47,739 shares of the energy company’s stock after buying an additional 790 shares during the period. Kanawha Capital Management LLC’s holdings in Apache Corp. were worth $2,658,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of APA. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Apache Corp. by 0.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,218,300 shares of the energy company’s stock valued at $67,823,000 after buying an additional 5,057 shares in the last quarter. Chicago Equity Partners LLC increased its stake in Apache Corp. by 6,132.1% in the second quarter. Chicago Equity Partners LLC now owns 276,705 shares of the energy company’s stock valued at $15,404,000 after buying an additional 272,265 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in Apache Corp. by 1.5% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 28,973 shares of the energy company’s stock valued at $1,612,000 after buying an additional 435 shares in the last quarter. Trillium Asset Management LLC increased its stake in Apache Corp. by 3.1% in the second quarter. Trillium Asset Management LLC now owns 139,473 shares of the energy company’s stock valued at $7,764,000 after buying an additional 4,149 shares in the last quarter. Finally, Sabal Trust CO purchased a new stake in Apache Corp. during the second quarter valued at about $202,000. 91.18% of the stock is owned by institutional investors.
Shares of Apache Corp. (NYSE:APA) traded up 2.191% during mid-day trading on Tuesday, hitting $63.205. 2,368,987 shares of the company were exchanged. The firm has a 50 day moving average of $59.32 and a 200 day moving average of $55.20. Apache Corp. has a 12-month low of $32.20 and a 12-month high of $66.00. The company’s market capitalization is $23.98 billion.
Apache Corp. (NYSE:APA) last posted its quarterly earnings results on Thursday, August 4th. The energy company reported ($0.26) 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 analyst estimates of $1.31 billion. Apache Corp. had a negative net margin of 261.91% and a negative return on equity of 4.16%. The firm’s revenue for the quarter was down 38.5% compared to the same quarter last year. During the same period last year, the firm earned $0.22 EPS. Equities research analysts forecast that Apache Corp. will post ($0.71) earnings per share for the current year.
The firm 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Wednesday, October 19th. Apache Corp.’s payout ratio is -2.78%.
Several research firms recently issued reports on APA. Credit Agricole SA began coverage on shares of Apache Corp. in a report on Wednesday, June 22nd. They set an “underperform” rating for the company. Jefferies Group reaffirmed a “sell” rating on shares of Apache Corp. in a report on Thursday, August 4th. Barclays PLC upped their price objective 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. Morgan Stanley reaffirmed a “hold” rating and set a $69.00 price objective on shares of Apache Corp. in a report on Monday, September 26th. Finally, Vetr raised shares of Apache Corp. from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Wednesday, August 10th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $58.65.
In other Apache Corp. news, insider Rebecca A. Hoyt sold 3,356 shares of the business’s stock in a transaction dated 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 owns 12,755 shares of the company’s stock, valued at $777,289.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.40% of the company’s stock.
Apache Corp. Company Profile
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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