Apache Corporation (APA) Shares Bought by River & Mercantile Asset Management LLP
River & Mercantile Asset Management LLP raised its stake in Apache Corporation (NYSE:APA) by 44.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 115,009 shares of the energy company’s stock after buying an additional 35,300 shares during the period. Apache Corporation makes up about 1.0% of River & Mercantile Asset Management LLP’s holdings, making the stock its 23rd largest position. River & Mercantile Asset Management LLP’s holdings in Apache Corporation were worth $5,513,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Fulton Bank N.A. boosted its stake in shares of Apache Corporation by 0.6% in the second quarter. Fulton Bank N.A. now owns 10,316 shares of the energy company’s stock valued at $494,000 after buying an additional 59 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Apache Corporation during the first quarter valued at approximately $48,518,000. Lee Danner & Bass Inc. boosted its stake in shares of Apache Corporation by 1.5% in the second quarter. Lee Danner & Bass Inc. now owns 83,237 shares of the energy company’s stock valued at $3,990,000 after buying an additional 1,200 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Apache Corporation by 56.6% in the first quarter. Toronto Dominion Bank now owns 102,458 shares of the energy company’s stock valued at $5,265,000 after buying an additional 37,028 shares during the last quarter. Finally, Brandes Investment Partners LP boosted its stake in shares of Apache Corporation by 1.4% in the first quarter. Brandes Investment Partners LP now owns 1,169,745 shares of the energy company’s stock valued at $60,113,000 after buying an additional 15,617 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.
Apache Corporation (NYSE APA) opened at 40.06 on Monday. Apache Corporation has a 52 week low of $39.04 and a 52 week high of $69.00. The firm’s market cap is $15.26 billion. The stock has a 50 day moving average price of $45.27 and a 200 day moving average price of $49.16. Apache Corporation also was the recipient of unusually large options trading activity on Friday. Investors bought 1,516 call options on the company. This represents an increase of approximately 470% compared to the typical volume of 266 call options.
Apache Corporation (NYSE:APA) last announced its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by $0.22. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.41 billion. Apache Corporation had a negative return on equity of 1.03% and a negative net margin of 0.07%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.26) EPS. Equities research analysts expect that Apache Corporation will post $0.06 EPS for the current year.
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Several brokerages recently commented on APA. Scotiabank reiterated a “hold” rating and set a $58.00 price target on shares of Apache Corporation in a research report on Monday, May 15th. BMO Capital Markets reiterated a “hold” rating and set a $53.00 price target on shares of Apache Corporation in a research report on Monday, May 15th. Wolfe Research cut Apache Corporation from a “market perform” rating to an “underperform” rating in a research report on Monday, July 17th. Wells Fargo & Company reiterated a “market perform” rating and set a $48.00 price target (down from $55.00) on shares of Apache Corporation in a research report on Saturday, July 22nd. Finally, Citigroup Inc. dropped their price target on Apache Corporation from $58.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, July 21st. Eight investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $56.26.
In other Apache Corporation news, Director George D. Lawrence purchased 900 shares of the business’s stock in a transaction on Friday, August 11th. The stock was purchased at an average price of $42.49 per share, for a total transaction of $38,241.00. Following the completion of the purchase, the director now directly owns 38,445 shares in the company, valued at $1,633,528.05. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John E. Lowe purchased 2,500 shares of the business’s stock in a transaction on Monday, August 7th. The shares were acquired at an average price 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 $449,000. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 5,500 shares of company stock valued at $235,094. Corporate 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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