Sandy Spring Bank Raises Stake in Apache Corporation (APA)
Sandy Spring Bank lifted its stake in shares of Apache Corporation (NYSE:APA) by 6.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,321 shares of the energy company’s stock after acquiring an additional 1,965 shares during the quarter. Sandy Spring Bank’s holdings in Apache Corporation were worth $1,645,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Beese Fulmer Investment Management Inc. boosted its stake in shares of Apache Corporation by 0.4% during the second quarter. Beese Fulmer Investment Management Inc. now owns 6,016 shares of the energy company’s stock valued at $288,000 after purchasing an additional 23 shares in the last quarter. Ray Gerald L & Associates Ltd. boosted its stake in shares of Apache Corporation by 0.4% during the second quarter. Ray Gerald L & Associates Ltd. now owns 12,900 shares of the energy company’s stock valued at $618,000 after purchasing an additional 50 shares in the last quarter. Tdam USA Inc. boosted its stake in shares of Apache Corporation by 0.5% during the second quarter. Tdam USA Inc. now owns 10,426 shares of the energy company’s stock valued at $495,000 after purchasing an additional 55 shares in the last quarter. Huntington National Bank boosted its stake in shares of Apache Corporation by 1.1% during the second quarter. Huntington National Bank now owns 5,449 shares of the energy company’s stock valued at $261,000 after purchasing an additional 58 shares in the last quarter. Finally, Fulton Bank N.A. boosted its stake in shares of Apache Corporation by 0.6% during the second quarter. Fulton Bank N.A. now owns 10,316 shares of the energy company’s stock valued at $494,000 after purchasing an additional 59 shares in the last quarter. 95.05% of the stock is currently owned by institutional investors and hedge funds.
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Apache Corporation (NYSE APA) traded up 0.71% during midday trading on Friday, hitting $42.52. 3,101,582 shares of the stock traded hands. Apache Corporation has a one year low of $38.14 and a one year high of $69.00. The stock’s market cap is $16.20 billion. The company has a 50-day moving average price of $41.94 and a 200 day moving average price of $47.62.
Apache Corporation (NYSE:APA) last issued its earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.22). Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the company posted ($0.26) EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. Equities research analysts anticipate that Apache Corporation will post $0.04 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, October 23rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, October 20th. Apache Corporation’s payout ratio is -4,997.50%.
In related news, Director George D. Lawrence bought 900 shares of the stock in a transaction dated Friday, August 11th. The stock was acquired at an average price of $42.49 per share, for a total transaction of $38,241.00. Following the acquisition, the director now owns 38,445 shares in the company, valued at approximately $1,633,528.05. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John E. Lowe bought 2,000 shares of the stock in a transaction dated Thursday, August 17th. The stock was bought at an average price of $40.32 per share, with a total value of $80,640.00. Following the acquisition, the director now owns 12,000 shares in the company, valued at approximately $483,840. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 5,500 shares of company stock valued at $235,094. Company insiders own 0.48% of the company’s stock.
A number of research firms have recently issued reports on APA. Royal Bank Of Canada reiterated a “hold” rating and set a $55.00 price objective on shares of Apache Corporation in a research note on Thursday, July 20th. Citigroup Inc. dropped their price objective 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, August 15th. BidaskClub upgraded shares of Apache Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Seaport Global Securities downgraded shares of Apache Corporation from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $52.00 to $36.00 in a research note on Wednesday, June 21st. Finally, Cowen and Company set a $50.00 price objective on shares of Apache Corporation and gave the company a “hold” rating in a research note on Tuesday, July 18th. Nine research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. Apache Corporation currently has a consensus rating of “Hold” and an average target price of $53.16.
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. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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