Barings LLC Maintains Stake in Apache Corporation (NYSE:APA)
Barings LLC continued to hold its position in shares of Apache Corporation (NYSE:APA) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,847 shares of the energy company’s stock at the end of the first quarter. Barings LLC’s holdings in Apache Corporation were worth $557,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in APA. AQR Capital Management LLC raised its stake in shares of Apache Corporation by 25.8% in the fourth quarter. AQR Capital Management LLC now owns 58,315 shares of the energy company’s stock worth $3,701,000 after buying an additional 11,974 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Apache Corporation by 5.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,140 shares of the energy company’s stock worth $834,000 after buying an additional 690 shares during the last quarter. Elkhorn Investments LLC acquired a new position in Apache Corporation during the fourth quarter worth about $955,000. Dodge & Cox acquired a new position in Apache Corporation during the fourth quarter worth about $1,834,035,000. Finally, River & Mercantile Asset Management LLP acquired a new position in Apache Corporation during the fourth quarter worth about $3,886,000. Institutional investors and hedge funds own 94.38% of the company’s stock.
Shares of Apache Corporation (NYSE APA) traded down 8.04% during mid-day trading on Thursday, hitting $44.06. The company had a trading volume of 11,182,670 shares. The firm has a 50-day moving average of $47.96 and a 200-day moving average of $51.36. Apache Corporation has a 12 month low of $43.24 and a 12 month high of $69.00. The company’s market cap is $16.76 billion.
Apache Corporation (NYSE:APA) last posted its earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.22. Apache Corporation had a negative net margin of 13.34% and a negative return on equity of 1.27%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the business earned ($0.26) earnings per share. Apache Corporation’s quarterly revenue was up .1% on a year-over-year basis. On average, analysts expect that Apache Corporation will post $0.38 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 22nd. Stockholders of record on Friday, July 21st will be paid a $0.25 dividend. The ex-dividend date is Wednesday, July 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.27%. Apache Corporation’s payout ratio is presently -46.08%.
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APA has been the topic of several analyst reports. Barclays PLC reaffirmed a “sell” rating and set a $41.00 price target (down previously from $50.00) on shares of Apache Corporation in a report on Thursday, April 20th. BMO Capital Markets set a $45.00 price objective on shares of Apache Corporation and gave the company a “hold” rating in a research report on Monday, June 26th. Stifel Nicolaus began coverage on shares of Apache Corporation in a research report on Friday, April 7th. They set a “hold” rating and a $54.00 price objective on the stock. Royal Bank Of Canada restated a “hold” rating and issued a $64.00 price target on shares of Apache Corporation in a research report on Friday, June 16th. Finally, 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. Seven analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $56.39.
In other Apache Corporation news, Director Rene R. Joyce acquired 10,000 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were acquired at an average cost of $51.38 per share, for a total transaction of $513,800.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $513,800. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.48% of the company’s stock.
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. It has production in four segments: the United States, Canada, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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