King Luther Capital Management Corp decreased its position in Apache Corporation (NYSE:APA) by 9.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,525 shares of the energy company’s stock after selling 3,630 shares during the quarter. King Luther Capital Management Corp’s holdings in Apache Corporation were worth $1,751,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in APA. Invictus RG purchased a new position in shares of Apache Corporation in the first quarter valued at about $100,000. Thompson Davis & CO. Inc. increased its position in shares of Apache Corporation by 33.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,009 shares of the energy company’s stock valued at $103,000 after acquiring an additional 506 shares during the period. Hanson McClain Inc. purchased a new position in shares of Apache Corporation in the second quarter valued at about $106,000. Parallel Advisors LLC increased its position in shares of Apache Corporation by 7.4% in the first quarter. Parallel Advisors LLC now owns 2,346 shares of the energy company’s stock valued at $114,000 after acquiring an additional 161 shares during the period. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in shares of Apache Corporation in the second quarter valued at about $142,000. Hedge funds and other institutional investors own 95.00% of the company’s stock.
In other Apache Corporation news, Director George D. Lawrence bought 900 shares of the business’s stock in a transaction on Friday, August 11th. The shares were acquired at an average price of $42.49 per share, with a total value of $38,241.00. Following the transaction, the director now owns 38,445 shares of the company’s stock, valued at approximately $1,633,528.05. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John E. Lowe bought 2,500 shares of the business’s stock in a transaction on Monday, August 7th. The shares were acquired at an average cost of $44.90 per share, for a total transaction of $112,250.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $449,000. The disclosure for this purchase can be found here. Insiders have acquired a total of 5,500 shares of company stock worth $235,094 in the last three months. Insiders own 0.48% of the company’s stock.
Shares of Apache Corporation (NYSE APA) opened at 42.52 on Monday. The stock’s market cap is $16.20 billion. The firm has a 50-day moving average of $41.94 and a 200-day moving average of $47.62. Apache Corporation has a one year low of $38.14 and a one year high of $69.00.
Apache Corporation (NYSE:APA) last posted its earnings results on Thursday, August 3rd. The energy company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the business posted ($0.26) EPS. On average, equities research analysts expect that Apache Corporation will post $0.04 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, October 23rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Friday, October 20th. Apache Corporation’s dividend payout ratio (DPR) is -4,997.50%.
A number of equities analysts have issued reports on APA shares. Stifel Nicolaus restated a “hold” rating and issued a $64.00 price objective on shares of Apache Corporation in a research report on Friday, May 26th. ValuEngine cut shares of Apache Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of Apache Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Royal Bank Of Canada restated a “hold” rating and issued a $64.00 price objective on shares of Apache Corporation in a research report on Friday, June 16th. Finally, Seaport Global Securities cut shares of Apache Corporation from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $52.00 to $36.00 in a research report on Wednesday, June 21st. Nine analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. Apache Corporation currently has an average rating of “Hold” and a consensus price target of $53.16.
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. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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