Edinburgh Partners Ltd Has $33.07 Million Position in Apache Corporation (APA)
Edinburgh Partners Ltd cut its position in shares of Apache Corporation (NYSE:APA) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 689,990 shares of the energy company’s stock after selling 27,554 shares during the period. Apache Corporation accounts for about 9.2% of Edinburgh Partners Ltd’s holdings, making the stock its 6th largest position. Edinburgh Partners Ltd owned 0.18% of Apache Corporation worth $33,071,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Addenda Capital Inc. bought a new stake in Apache Corporation during the second quarter worth $1,694,000. Murphy Pohlad Asset Management LLC increased its stake in Apache Corporation by 52.2% in the second quarter. Murphy Pohlad Asset Management LLC now owns 32,365 shares of the energy company’s stock worth $1,551,000 after buying an additional 11,100 shares during the last quarter. Alps Advisors Inc. bought a new stake in Apache Corporation during the second quarter worth $282,000. State of Wisconsin Investment Board increased its stake in Apache Corporation by 18.7% in the second quarter. State of Wisconsin Investment Board now owns 275,709 shares of the energy company’s stock worth $13,215,000 after buying an additional 43,350 shares during the last quarter. Finally, Wrapmanager Inc. bought a new stake in Apache Corporation during the second quarter worth $305,000. Institutional investors own 93.72% of the company’s stock.
Apache Corporation (NYSE APA) opened at 39.89 on Friday. Apache Corporation has a 12-month low of $39.87 and a 12-month high of $69.00. The company’s market cap is $15.20 billion. The firm’s 50-day moving average is $46.51 and its 200 day moving average is $49.97.
Apache Corporation (NYSE:APA) last released its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by $0.22. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the company posted ($0.26) EPS. On average, equities analysts expect that Apache Corporation will post $0.09 earnings per share for the current fiscal year.
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A number of research firms have recently weighed in on APA. BidaskClub downgraded shares of Apache Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday. Citigroup Inc. reduced their price target on shares of Apache Corporation from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday. Scotiabank set a $52.00 price target on shares of Apache Corporation and gave the company a “hold” rating in a research note on Friday, August 11th. BMO Capital Markets set a $45.00 price target on shares of Apache Corporation and gave the company a “hold” rating in a research note on Thursday, August 3rd. Finally, Wells Fargo & Company restated a “market perform” rating and issued a $48.00 price target (down from $55.00) on shares of Apache Corporation in a research note on Saturday, July 22nd. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $56.26.
In related news, Director John E. Lowe acquired 2,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was purchased at an average price of $40.32 per share, with a total value of $80,640.00. Following the completion of the purchase, the director now owns 12,000 shares in the company, valued at approximately $483,840. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John E. Lowe acquired 2,500 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were bought at an average cost of $44.90 per share, with a total value of $112,250.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,000. The disclosure for this purchase can be found here. In the last three months, insiders have bought 5,400 shares of company stock valued at $231,131. Insiders own 0.48% of the company’s stock.
Apache Corporation Company Profile
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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