Ameriprise Financial Inc. lowered its position in shares of Apache Co. (NYSE:APA) by 25.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 634,489 shares of the energy company’s stock after selling 213,219 shares during the quarter. Ameriprise Financial Inc. owned 0.17% of Apache worth $29,070,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently bought and sold shares of APA. SG Americas Securities LLC raised its holdings in shares of Apache by 156.3% in the 3rd quarter. SG Americas Securities LLC now owns 32,273 shares of the energy company’s stock worth $1,478,000 after purchasing an additional 19,679 shares during the period. Commonwealth Equity Services Inc raised its holdings in shares of Apache by 34.8% in the 3rd quarter. Commonwealth Equity Services Inc now owns 68,627 shares of the energy company’s stock worth $3,143,000 after purchasing an additional 17,715 shares during the period. Thompson Investment Management Inc. raised its holdings in shares of Apache by 2.7% in the 3rd quarter. Thompson Investment Management Inc. now owns 66,619 shares of the energy company’s stock worth $3,051,000 after purchasing an additional 1,755 shares during the period. Columbia Asset Management bought a new stake in shares of Apache in the 3rd quarter worth approximately $252,000. Finally, Davidson & Garrard Inc. raised its holdings in shares of Apache by 61.7% in the 3rd quarter. Davidson & Garrard Inc. now owns 19,467 shares of the energy company’s stock worth $892,000 after purchasing an additional 7,425 shares during the period. 94.55% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on APA. Barclays lifted their price target on shares of Apache from $26.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, November 20th. Scotiabank set a $49.00 price target on shares of Apache and gave the stock a “hold” rating in a report on Monday, November 13th. BMO Capital Markets reaffirmed a “hold” rating and issued a $42.00 price target on shares of Apache in a report on Tuesday, November 7th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $55.00 price target on shares of Apache in a report on Tuesday, November 7th. Finally, Bank of America lifted their price target on shares of Apache from $41.00 to $42.00 and gave the stock an “underperform” rating in a report on Monday, November 6th. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $48.06.
Apache (NYSE:APA) last issued its earnings results on Thursday, November 2nd. The energy company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. Apache had a net margin of 10.60% and a negative return on equity of 0.70%. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the firm posted ($0.03) EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. analysts expect that Apache Co. will post 0.02 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Monday, October 23rd were issued a dividend of $0.25 per share. The ex-dividend date was Friday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 2.37%. Apache’s payout ratio is 57.47%.
In other Apache news, insider P Anthony Lannie sold 19,514 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $44.04, for a total transaction of $859,396.56. Following the sale, the insider now owns 37,469 shares of the company’s stock, valued at approximately $1,650,134.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.48% of the company’s stock.
Apache 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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