Canal Capital Management LLC Has $288,000 Stake in Apache Corporation (APA)

Canal Capital Management LLC maintained its stake in Apache Corporation (NYSE:APA) during the second quarter, Holdings Channel reports. The fund owned 6,000 shares of the energy company’s stock at the end of the second quarter. Canal Capital Management LLC’s holdings in Apache Corporation were worth $288,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Ardevora Asset Management LLP increased its stake in Apache Corporation by 43.7% in the second quarter. Ardevora Asset Management LLP now owns 500,500 shares of the energy company’s stock valued at $23,989,000 after buying an additional 152,200 shares in the last quarter. Beese Fulmer Investment Management Inc. increased its stake in Apache Corporation by 0.4% in the second quarter. Beese Fulmer Investment Management Inc. now owns 6,016 shares of the energy company’s stock valued at $288,000 after buying an additional 23 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in Apache Corporation by 509.1% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 61,634 shares of the energy company’s stock valued at $2,954,000 after buying an additional 51,515 shares in the last quarter. BTR Capital Management Inc. increased its stake in Apache Corporation by 2.7% in the second quarter. BTR Capital Management Inc. now owns 65,305 shares of the energy company’s stock valued at $3,130,000 after buying an additional 1,725 shares in the last quarter. Finally, Hallmark Capital Management Inc. increased its stake in Apache Corporation by 4.5% in the second quarter. Hallmark Capital Management Inc. now owns 278,822 shares of the energy company’s stock valued at $13,364,000 after buying an additional 11,917 shares in the last quarter. 94.06% of the stock is owned by hedge funds and other institutional investors.

Shares of Apache Corporation (NYSE APA) traded up 0.25% during midday trading on Monday, reaching $48.68. The company’s stock had a trading volume of 3,011,111 shares. The stock’s market capitalization is $18.52 billion. Apache Corporation has a 12 month low of $44.60 and a 12 month high of $69.00. The stock’s 50 day moving average is $48.33 and its 200 day moving average is $54.10. Apache Corporation also saw some unusual options trading activity on Friday. Stock investors purchased 1,516 call options on the company. This is an increase of approximately 470% compared to the typical volume of 266 call options.

Apache Corporation (NYSE:APA) last released its quarterly earnings data on Thursday, May 4th. The energy company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by $0.08. Apache Corporation had a negative net margin of 13.34% and a negative return on equity of 1.27%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the firm posted ($0.40) EPS. On average, analysts forecast that Apache Corporation will post $0.62 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Friday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Wednesday, July 19th. Apache Corporation’s dividend payout ratio is -46.08%.

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Several analysts have commented on the company. Wolfe Research downgraded Apache Corporation from a “market perform” rating to an “underperform” rating in a research note on Monday. Sanford C. Bernstein reiterated an “outperform” rating on shares of Apache Corporation in a research report on Friday, July 7th. Zacks Investment Research cut Apache Corporation from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 5th. Stifel Nicolaus started coverage on Apache Corporation in a research report on Tuesday, July 4th. They set a “hold” rating and a $54.00 target price on the stock. Finally, Scotiabank set a $50.00 target price on Apache Corporation and gave the stock a “hold” rating in a research report on Saturday, July 1st. Seven analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. Apache Corporation presently has a consensus rating of “Hold” and a consensus target price of $57.90.

In related news, Director Rene R. Joyce acquired 10,000 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were bought at an average price of $51.38 per share, for a total transaction of $513,800.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $513,800. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.48% of the stock is owned by insiders.

Apache Corporation Company Profile

Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. It has production in four segments: the United States, Canada, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.

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Institutional Ownership by Quarter for Apache Corporation (NYSE:APA)

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