Frontier Wealth Management LLC Trims Stake in Apache Corporation (APA)
Frontier Wealth Management LLC lessened its holdings in shares of Apache Corporation (NYSE:APA) by 9.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,700 shares of the energy company’s stock after selling 3,800 shares during the quarter. Frontier Wealth Management LLC’s holdings in Apache Corporation were worth $1,711,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also modified their holdings of the company. Invictus RG acquired a new stake in Apache Corporation in the first quarter valued at approximately $100,000. Thompson Davis & CO. Inc. raised its holdings in Apache Corporation by 33.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,009 shares of the energy company’s stock valued at $103,000 after acquiring an additional 506 shares in the last quarter. Hanson McClain Inc. acquired a new stake in Apache Corporation in the second quarter valued at approximately $106,000. Parallel Advisors LLC raised its holdings in Apache Corporation by 7.4% in the first quarter. Parallel Advisors LLC now owns 2,346 shares of the energy company’s stock valued at $114,000 after acquiring an additional 161 shares in the last quarter. Finally, FNY Partners Fund LP raised its holdings in Apache Corporation by 500.0% in the first quarter. FNY Partners Fund LP now owns 3,000 shares of the energy company’s stock valued at $154,000 after acquiring an additional 2,500 shares in the last quarter. 95.00% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have commented on the stock. Scotiabank set a $50.00 price target on shares of Apache Corporation and gave the company a “hold” rating in a research note on Saturday, July 1st. Wolfe Research lowered shares of Apache Corporation from a “market perform” rating to an “underperform” rating in a research report on Monday, July 17th. Wells Fargo & Company restated a “market perform” rating and set a $48.00 target price (down from $55.00) on shares of Apache Corporation in a research report on Saturday, July 22nd. Citigroup Inc. lowered their target price on shares of Apache Corporation from $58.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, July 21st. Finally, BidaskClub upgraded shares of Apache Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Nine research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $51.59.
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In other news, Director George D. Lawrence acquired 900 shares of the business’s 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 completion of the acquisition, the director now directly owns 38,445 shares in the company, valued at approximately $1,633,528.05. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John E. Lowe acquired 2,000 shares of the business’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 acquisition, the director now owns 12,000 shares of the company’s stock, valued at $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. Insiders own 0.48% of the company’s stock.
Apache Corporation (NYSE APA) traded down 1.06% during midday trading on Thursday, reaching $45.77. The company’s stock had a trading volume of 1,163,961 shares. The company’s market capitalization is $17.44 billion. The company’s 50-day moving average price is $41.50 and its 200-day moving average price is $47.40. Apache Corporation has a 1-year low of $38.14 and a 1-year high of $69.00.
Apache Corporation (NYSE:APA) last released its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.22). Apache Corporation had a negative return on equity of 1.03% and a negative net margin of 0.07%. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the company posted ($0.26) EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year. On average, analysts predict that Apache Corporation will post $0.03 earnings per share for the current fiscal year.
The company also recently disclosed 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. The ex-dividend date is Friday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 2.18%. Apache Corporation’s dividend payout ratio (DPR) is -4,997.50%.
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. 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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