Dowling & Yahnke LLC Buys New Stake in Apache Co. (APA)

Dowling & Yahnke LLC bought a new stake in Apache Co. (NYSE:APA) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,784 shares of the energy company’s stock, valued at approximately $228,000.

Several other large investors have also recently modified their holdings of APA. Baillie Gifford & Co. raised its position in shares of Apache by 76.2% in the 2nd quarter. Baillie Gifford & Co. now owns 24,490,129 shares of the energy company’s stock valued at $1,144,913,000 after buying an additional 10,592,806 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Apache by 71.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,644,974 shares of the energy company’s stock worth $170,375,000 after purchasing an additional 1,512,960 shares in the last quarter. Sei Investments Co. increased its position in Apache by 4,112.2% during the 2nd quarter. Sei Investments Co. now owns 238,538 shares of the energy company’s stock worth $11,152,000 after purchasing an additional 232,875 shares in the last quarter. First Trust Advisors LP increased its position in Apache by 38.1% during the 2nd quarter. First Trust Advisors LP now owns 727,185 shares of the energy company’s stock worth $33,996,000 after purchasing an additional 200,603 shares in the last quarter. Finally, Investec Asset Management LTD acquired a new position in Apache during the 2nd quarter worth approximately $9,009,000. Institutional investors own 96.72% of the company’s stock.

Shares of NYSE APA opened at $37.83 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.88. Apache Co. has a 52-week low of $33.60 and a 52-week high of $50.03. The company has a market capitalization of $14.32 billion, a price-to-earnings ratio of 31.47, a price-to-earnings-growth ratio of 2.83 and a beta of 1.19.

Apache (NYSE:APA) last announced its quarterly earnings results on Wednesday, October 31st. The energy company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.16. Apache had a net margin of 12.57% and a return on equity of 5.21%. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the prior year, the company posted $0.04 EPS. The company’s revenue was up 25.9% on a year-over-year basis. As a group, research analysts expect that Apache Co. will post 1.89 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Monday, October 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.64%. The ex-dividend date is Friday, October 19th. Apache’s dividend payout ratio (DPR) is currently 416.67%.

In other news, VP Dominic Ricotta sold 3,480 shares of the company’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $43.72, for a total value of $152,145.60. Following the sale, the vice president now directly owns 10,357 shares of the company’s stock, valued at approximately $452,808.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John J. Christmann acquired 3,900 shares of Apache stock in a transaction dated Monday, August 27th. The stock was purchased at an average cost of $43.63 per share, for a total transaction of $170,157.00. Following the completion of the purchase, the chief executive officer now owns 150,696 shares in the company, valued at approximately $6,574,866.48. The disclosure for this purchase can be found here. Corporate insiders own 0.59% of the company’s stock.

A number of research firms recently issued reports on APA. Raymond James reiterated a “buy” rating and set a $65.00 price objective on shares of Apache in a research report on Thursday. Mizuho reiterated a “hold” rating and set a $47.00 price objective on shares of Apache in a research report on Monday, October 22nd. Cowen set a $48.00 price objective on shares of Apache and gave the stock a “hold” rating in a research report on Thursday, July 19th. Zacks Investment Research cut shares of Apache from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Finally, Morgan Stanley set a $43.00 price objective on shares of Apache and gave the stock a “sell” rating in a research report on Friday, October 12th. Five investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. Apache currently has an average rating of “Hold” and an average target price of $47.16.

About Apache

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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Institutional Ownership by Quarter for Apache (NYSE:APA)

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