Apache Corp. (APA) Stake Lowered by Wedge Capital Management L L P NC
Wedge Capital Management L L P NC cut its stake in Apache Corp. (NYSE:APA) by 2.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,795 shares of the energy company’s stock after selling 4,955 shares during the period. Wedge Capital Management L L P NC’s holdings in Apache Corp. were worth $10,121,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Apache Corp. by 0.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,218,300 shares of the energy company’s stock valued at $67,823,000 after buying an additional 5,057 shares during the last quarter. Chicago Equity Partners LLC raised its stake in Apache Corp. by 6,132.1% in the second quarter. Chicago Equity Partners LLC now owns 276,705 shares of the energy company’s stock valued at $15,404,000 after buying an additional 272,265 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in Apache Corp. by 1.5% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 28,973 shares of the energy company’s stock valued at $1,612,000 after buying an additional 435 shares during the last quarter. Trillium Asset Management LLC raised its stake in Apache Corp. by 3.1% in the second quarter. Trillium Asset Management LLC now owns 139,473 shares of the energy company’s stock valued at $7,764,000 after buying an additional 4,149 shares during the last quarter. Finally, Sabal Trust CO purchased a new stake in Apache Corp. during the second quarter valued at about $202,000. Hedge funds and other institutional investors own 91.26% of the company’s stock.
Apache Corp. (NYSE:APA) traded down 0.48% during mid-day trading on Friday, hitting $61.77. The stock had a trading volume of 3,580,306 shares. Apache Corp. has a 12 month low of $32.20 and a 12 month high of $66.00. The stock’s market cap is $23.44 billion. The stock’s 50-day moving average price is $59.04 and its 200-day moving average price is $55.01.
Apache Corp. (NYSE:APA) last posted its quarterly earnings results on Thursday, August 4th. The energy company reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.09. Apache Corp. had a negative return on equity of 4.16% and a negative net margin of 261.91%. The business earned $1.38 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the firm posted $0.22 earnings per share. The firm’s revenue for the quarter was down 38.5% on a year-over-year basis. On average, analysts predict that Apache Corp. will post ($0.71) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Friday, October 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a $1.00 dividend on an annualized basis and a yield of 1.62%. Apache Corp.’s dividend payout ratio is presently -2.78%.
Several analysts have recently issued reports on the stock. Morgan Stanley reiterated a “hold” rating and issued a $69.00 target price on shares of Apache Corp. in a research note on Monday, September 26th. Mitsubishi UFJ Financial Group started coverage on shares of Apache Corp. in a report on Monday, September 26th. They issued a “neutral” rating and a $64.00 price target on the stock. KLR Group set a $73.00 price target on shares of Apache Corp. and gave the stock a “buy” rating in a report on Wednesday, September 14th. Barclays PLC boosted their price target on shares of Apache Corp. from $50.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 13th. Finally, Credit Suisse Group AG reissued a “hold” rating and issued a $67.00 price target on shares of Apache Corp. in a report on Monday, September 12th. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $57.92.
In related news, insider Rebecca A. Hoyt sold 3,356 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $60.94, for a total value of $204,514.64. Following the transaction, the insider now directly owns 12,755 shares of the company’s stock, valued at approximately $777,289.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.40% of the stock is owned by corporate insiders.
Apache Corp. Company Profile
Apache Corporation (Apache) is an independent energy company. Both domestically and internationally, the Company explores for, develops and produces natural gas, crude oil and natural gas liquids. The Company has exploration and production interests in four countries: the United States, Canada, Egypt, and the United Kingdom (North Sea).
Receive News & Stock Ratings for Apache Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apache Corp. and related stocks with our FREE daily email newsletter.