Meag Munich Ergo Kapitalanlagegesellschaft MBH Grows Position in Apache Corporation (APA)
Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its holdings in shares of Apache Corporation (NYSE:APA) by 100.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,000 shares of the energy company’s stock after acquiring an additional 3,000 shares during the quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Apache Corporation were worth $276,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hanson McClain Inc. acquired a new stake in Apache Corporation during the second quarter worth about $106,000. Gs Investments Inc. acquired a new stake in Apache Corporation during the second quarter worth about $149,000. Bronfman E.L. Rothschild L.P. raised its stake in Apache Corporation by 410.5% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,635 shares of the energy company’s stock worth $174,000 after acquiring an additional 2,923 shares during the period. North Star Asset Management Inc. acquired a new stake in Apache Corporation during the third quarter worth about $206,000. Finally, Dupont Capital Management Corp acquired a new stake in Apache Corporation during the second quarter worth about $200,000. Hedge funds and other institutional investors own 94.98% of the company’s stock.
Shares of Apache Corporation (APA) traded down $1.61 during trading hours on Wednesday, reaching $41.88. 2,451,000 shares of the company were exchanged, compared to its average volume of 3,666,624. Apache Corporation has a 1 year low of $38.14 and a 1 year high of $69.00. The company has a quick ratio of 1.37, a current ratio of 1.53 and a debt-to-equity ratio of 0.95.
Apache Corporation (NYSE:APA) last issued its earnings results on Thursday, November 2nd. The energy company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.09. Apache Corporation had a net margin of 10.60% and a negative return on equity of 0.70%. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the firm posted ($0.03) earnings per share. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. sell-side analysts anticipate that Apache Corporation will post -0.01 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, October 23rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Friday, October 20th. Apache Corporation’s dividend payout ratio is 57.47%.
APA has been the topic of several research reports. Cowen and Company set a $50.00 price objective on shares of Apache Corporation and gave the stock a “hold” rating in a research note on Tuesday, July 18th. Royal Bank Of Canada restated a “hold” rating and issued a $55.00 price target on shares of Apache Corporation in a research note on Thursday, July 20th. Citigroup Inc. dropped their price target on shares of Apache Corporation from $58.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, July 21st. Wells Fargo & Company restated a “market perform” rating and issued a $48.00 price target (down previously from $55.00) on shares of Apache Corporation in a research note on Saturday, July 22nd. Finally, Scotiabank set a $50.00 price target on shares of Apache Corporation and gave the company a “hold” rating in a research note on Thursday, August 3rd. Ten analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $47.82.
In other news, Director John E. Lowe acquired 2,000 shares of the firm’s stock in a transaction that occurred on 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 purchase, the director now owns 12,000 shares of the company’s stock, valued at approximately $483,840. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.48% of the company’s stock.
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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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