Kovitz Investment Group Partners LLC Acquires New Stake in Apache Corporation (NYSE:APA)

Kovitz Investment Group Partners LLC acquired a new stake in Apache Corporation (NYSE:APA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 7,450 shares of the energy company’s stock, valued at approximately $357,000.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Apache Corporation by 3,551.6% in the first quarter. BlackRock Inc. now owns 29,003,850 shares of the energy company’s stock valued at $1,490,509,000 after buying an additional 28,209,565 shares during the period. JPMorgan Chase & Co. boosted its stake in Apache Corporation by 155.6% in the first quarter. JPMorgan Chase & Co. now owns 4,967,031 shares of the energy company’s stock worth $255,258,000 after buying an additional 3,023,533 shares during the last quarter. Harris Associates L P boosted its stake in Apache Corporation by 16.4% in the first quarter. Harris Associates L P now owns 16,397,422 shares of the energy company’s stock worth $842,663,000 after buying an additional 2,307,915 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Apache Corporation by 156.5% in the first quarter. Ameriprise Financial Inc. now owns 1,578,266 shares of the energy company’s stock worth $81,064,000 after buying an additional 962,883 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Apache Corporation during the first quarter worth approximately $48,518,000. Institutional investors own 94.04% of the company’s stock.

Shares of Apache Corporation (NYSE APA) opened at 43.58 on Thursday. The company’s market capitalization is $16.58 billion. Apache Corporation has a 12 month low of $43.24 and a 12 month high of $69.00. The firm’s 50-day moving average is $47.32 and its 200 day moving average is $50.76.

Apache Corporation (NYSE:APA) last released its earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.22. Apache Corporation had a negative return on equity of 1.03% and a negative net margin of 0.07%. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the company posted ($0.26) earnings per share. The company’s revenue was up .1% compared to the same quarter last year. Equities analysts expect that Apache Corporation will post $0.22 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Friday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Wednesday, July 19th. Apache Corporation’s dividend payout ratio (DPR) is currently -4,997.50%.

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A number of research firms have commented on APA. Royal Bank Of Canada restated a “hold” rating and issued a $63.00 price target on shares of Apache Corporation in a report on Tuesday, April 25th. BMO Capital Markets restated a “hold” rating and issued a $53.00 price target on shares of Apache Corporation in a report on Friday, May 5th. Scotiabank restated a “hold” rating and issued a $58.00 price target on shares of Apache Corporation in a report on Monday, May 15th. Wolfe Research cut shares of Apache Corporation from a “market perform” rating to an “underperform” rating in a report on Monday, July 17th. Finally, Wells Fargo & Company restated a “market perform” rating and issued a $48.00 price target (down from $55.00) on shares of Apache Corporation in a report on Saturday, July 22nd. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $56.39.

In related news, Director John E. Lowe acquired 2,500 shares of the business’s stock in a transaction on Monday, August 7th. The stock was acquired at an average cost of $44.90 per share, with a total value of $112,250.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $449,000. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rene R. Joyce acquired 10,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were bought at an average cost of $51.38 per share, with a total value of $513,800.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $513,800. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company’s stock.

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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