Apache Corporation (NYSE:APA) was the target of some unusual options trading activity on Wednesday. Stock traders bought 1,516 call options on the stock. This is an increase of 470% compared to the average volume of 266 call options.

Hedge funds and other institutional investors have recently modified their holdings of the company. Utah Retirement Systems raised its position in shares of Apache Corporation by 0.6% in the second quarter. Utah Retirement Systems now owns 69,785 shares of the energy company’s stock valued at $3,345,000 after buying an additional 400 shares during the last quarter. ARGA Investment Management LP raised its position in shares of Apache Corporation by 27.8% in the second quarter. ARGA Investment Management LP now owns 88,829 shares of the energy company’s stock valued at $4,258,000 after buying an additional 19,300 shares during the last quarter. Hosking Partners LLP raised its position in shares of Apache Corporation by 97.4% in the second quarter. Hosking Partners LLP now owns 90,472 shares of the energy company’s stock valued at $4,336,000 after buying an additional 44,629 shares during the last quarter. Mitchell Group Inc. raised its position in shares of Apache Corporation by 2.1% in the second quarter. Mitchell Group Inc. now owns 593,457 shares of the energy company’s stock valued at $28,444,000 after buying an additional 12,438 shares during the last quarter. Finally, Westpac Banking Corp raised its position in shares of Apache Corporation by 4.6% in the second quarter. Westpac Banking Corp now owns 158,502 shares of the energy company’s stock valued at $7,597,000 after buying an additional 6,900 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Apache Corporation (NYSE APA) opened at $41.18 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.53 and a quick ratio of 1.37. Apache Corporation has a 12-month low of $38.14 and a 12-month high of $69.00.

Apache Corporation (NYSE:APA) last posted its quarterly earnings data 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. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Apache Corporation had a net margin of 10.60% and a negative return on equity of 0.70%. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.03) earnings per share. research analysts expect that Apache Corporation will post -0.01 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, October 23rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Friday, October 20th. Apache Corporation’s dividend payout ratio (DPR) is 57.47%.

Several analysts have recently commented on APA shares. Scotiabank set a $50.00 price objective on shares of Apache Corporation and gave the company a “hold” rating in a report on Thursday, August 3rd. BMO Capital Markets set a $45.00 price objective on shares of Apache Corporation and gave the company a “hold” rating in a report on Thursday, August 3rd. BidaskClub downgraded shares of Apache Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. 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 report on Tuesday, August 15th. Finally, Royal Bank Of Canada set a $55.00 price objective on shares of Apache Corporation and gave the company a “hold” rating in a report on Thursday, August 24th. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $47.82.

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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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