Meridian Wealth Management LLC purchased a new stake in Apache Co. (NYSE:APA) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 9,729 shares of the energy company’s stock, valued at approximately $255,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in APA. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Apache by 1.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 29,494 shares of the energy company’s stock valued at $774,000 after buying an additional 358 shares during the last quarter. Stoneridge Investment Partners LLC raised its holdings in shares of Apache by 64.1% in the fourth quarter. Stoneridge Investment Partners LLC now owns 64,536 shares of the energy company’s stock valued at $1,694,000 after buying an additional 25,212 shares during the last quarter. Chicago Equity Partners LLC purchased a new stake in shares of Apache in the fourth quarter valued at about $344,000. Capital Investment Advisory Services LLC acquired a new position in shares of Apache during the fourth quarter worth about $29,000. Finally, Hartford Financial Management Inc. increased its stake in shares of Apache by 27.4% during the fourth quarter. Hartford Financial Management Inc. now owns 16,226 shares of the energy company’s stock worth $426,000 after acquiring an additional 3,485 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.
Shares of APA opened at $30.35 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 0.90. Apache Co. has a twelve month low of $24.56 and a twelve month high of $50.03. The stock has a market cap of $11.52 billion, a price-to-earnings ratio of 126.46, a P/E/G ratio of 10.34 and a beta of 1.72.
A number of research analysts have recently issued reports on APA shares. Zacks Investment Research upgraded shares of Apache from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, October 16th. Stephens set a $55.00 price target on shares of Apache and gave the stock a “buy” rating in a research note on Thursday, November 1st. Raymond James reiterated a “buy” rating and set a $65.00 price target on shares of Apache in a research note on Thursday, November 1st. Bank of America started coverage on shares of Apache in a research note on Monday, December 3rd. They set a “buy” rating and a $40.00 price target on the stock. Finally, Piper Jaffray Companies set a $57.00 price target on shares of Apache and gave the stock a “hold” rating in a research note on Friday, November 16th. Six analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $42.35.
Apache Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids (NGLs). The company has operations in onshore assets located Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.
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