Cornerstone Capital Management Holdings LLC. Decreases Holdings in Apache Corporation (APA)
Cornerstone Capital Management Holdings LLC. trimmed its position in Apache Corporation (NYSE:APA) by 55.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,308 shares of the energy company’s stock after selling 102,751 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Apache Corporation were worth $3,896,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Invictus RG acquired a new position in Apache Corporation in the 1st quarter valued at $100,000. Hanson McClain Inc. acquired a new position in Apache Corporation in the 2nd quarter valued at $106,000. Parallel Advisors LLC grew its holdings in Apache Corporation by 7.4% in the 1st quarter. Parallel Advisors LLC now owns 2,346 shares of the energy company’s stock valued at $114,000 after buying an additional 161 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in Apache Corporation in the 2nd quarter valued at $142,000. Finally, Global X Management Co. LLC grew its holdings in Apache Corporation by 28.6% in the 1st quarter. Global X Management Co. LLC now owns 3,002 shares of the energy company’s stock valued at $154,000 after buying an additional 668 shares in the last quarter. 95.00% of the stock is currently owned by hedge funds and other institutional investors.
APA has been the topic of a number of research reports. Royal Bank Of Canada set a $55.00 price objective on Apache Corporation and gave the company a “hold” rating in a report on Thursday, August 24th. BMO Capital Markets set a $45.00 price objective on Apache Corporation and gave the company a “hold” rating in a report on Monday, June 26th. Scotiabank set a $50.00 price objective on Apache Corporation and gave the company a “hold” rating in a report on Thursday, August 3rd. J P Morgan Chase & Co lowered Apache Corporation from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $46.00 to $38.00 in a report on Thursday, September 14th. Finally, Barclays PLC decreased their price objective on Apache Corporation from $30.00 to $26.00 and set an “underweight” rating on the stock in a report on Wednesday. Nine research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $49.06.
Shares of Apache Corporation (APA) opened at 41.60 on Friday. Apache Corporation has a 1-year low of $38.14 and a 1-year high of $69.00. The company has a 50-day moving average price of $42.51 and a 200 day moving average price of $46.62. The firm’s market capitalization is $15.85 billion.
Apache Corporation (NYSE:APA) last posted its earnings results on Thursday, August 3rd. The energy company reported ($0.21) 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 for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the firm earned ($0.26) earnings per share. Apache Corporation’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities research analysts predict that Apache Corporation will post $0.03 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, October 23rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.40%. The ex-dividend date is Friday, October 20th. Apache Corporation’s payout ratio is -4,997.50%.
In other Apache Corporation news, Director John E. Lowe bought 2,500 shares of Apache Corporation stock in a transaction that occurred on Monday, August 7th. The stock was acquired at an average cost of $44.90 per share, for a total transaction of $112,250.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $449,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John E. Lowe bought 2,000 shares of Apache Corporation stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average price of $40.32 per share, with a total value of $80,640.00. Following the completion of the transaction, 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. Over the last 90 days, insiders have purchased 5,500 shares of company stock valued at $235,094. 0.48% of the stock is owned by company insiders.
Apache Corporation 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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