Investment Centers of America Inc. reduced its stake in Apache Corporation (NYSE:APA) by 19.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,124 shares of the energy company’s stock after selling 1,525 shares during the period. Investment Centers of America Inc.’s holdings in Apache Corporation were worth $294,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of APA. Ray Gerald L & Associates Ltd. grew its stake in Apache Corporation by 5.3% in the 1st quarter. Ray Gerald L & Associates Ltd. now owns 12,850 shares of the energy company’s stock worth $660,000 after acquiring an additional 650 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in Apache Corporation by 5.0% in the 1st quarter. Xact Kapitalforvaltning AB now owns 29,323 shares of the energy company’s stock worth $1,507,000 after acquiring an additional 1,395 shares in the last quarter. Pictet Asset Management Ltd. grew its stake in Apache Corporation by 7.0% in the 1st quarter. Pictet Asset Management Ltd. now owns 211,529 shares of the energy company’s stock worth $10,871,000 after acquiring an additional 13,900 shares in the last quarter. LS Investment Advisors LLC grew its stake in Apache Corporation by 15.3% in the 1st quarter. LS Investment Advisors LLC now owns 9,264 shares of the energy company’s stock worth $476,000 after acquiring an additional 1,230 shares in the last quarter. Finally, Swiss National Bank grew its stake in Apache Corporation by 27.2% in the 1st quarter. Swiss National Bank now owns 1,344,432 shares of the energy company’s stock worth $69,090,000 after acquiring an additional 287,600 shares in the last quarter. Institutional investors and hedge funds own 95.00% of the company’s stock.
In other Apache Corporation news, Director John E. Lowe purchased 2,000 shares of Apache Corporation stock in a transaction that occurred on Thursday, August 17th. The stock was purchased at an average price of $40.32 per share, for a total transaction of $80,640.00. Following the transaction, the director now directly owns 12,000 shares in the company, valued at $483,840. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John E. Lowe purchased 2,500 shares of Apache Corporation stock in a transaction that occurred on Monday, August 7th. The stock was acquired at an average price of $44.90 per share, with a total value of $112,250.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $449,000. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 5,500 shares of company stock valued at $235,094. 0.48% of the stock is owned by insiders.
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Shares of Apache Corporation (NYSE:APA) opened at 42.30 on Tuesday. The stock has a 50 day moving average of $41.72 and a 200-day moving average of $47.47. The firm’s market cap is $16.11 billion. Apache Corporation has a 1-year low of $38.14 and a 1-year high of $69.00.
Apache Corporation (NYSE:APA) last released its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.22). Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the company earned ($0.26) EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Equities analysts anticipate that Apache Corporation will post $0.04 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, October 23rd will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.00 annualized dividend and a yield of 2.36%. Apache Corporation’s dividend payout ratio (DPR) is -4,997.50%.
A number of brokerages have commented on APA. Cowen and Company set a $50.00 target price on shares of Apache Corporation and gave the stock a “hold” rating in a research note on Tuesday, July 18th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $55.00 price target on shares of Apache Corporation in a research report on Thursday, July 20th. BidaskClub raised shares of Apache Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Zacks Investment Research cut shares of Apache Corporation from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 5th. Finally, Stifel Nicolaus began coverage on shares of Apache Corporation in a research report on Tuesday, July 4th. They issued a “hold” rating and a $54.00 price target for the company. Nine investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $53.16.
About Apache Corporation
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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