Neuberger Berman Group LLC Sells 14,390 Shares of Apache Co. (APA)
Neuberger Berman Group LLC reduced its stake in shares of Apache Co. (NYSE:APA) by 37.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 24,508 shares of the energy company’s stock after selling 14,390 shares during the period. Neuberger Berman Group LLC’s holdings in Apache were worth $1,122,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Hosking Partners LLP grew its holdings in shares of Apache 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 acquiring an additional 44,629 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of Apache by 28.4% in the second quarter. Earnest Partners LLC now owns 258,726 shares of the energy company’s stock valued at $12,401,000 after acquiring an additional 57,196 shares in the last quarter. Shelton Capital Management bought a new position in shares of Apache in the second quarter valued at approximately $1,601,000. State Street Corp grew its holdings in shares of Apache by 0.7% in the second quarter. State Street Corp now owns 20,068,849 shares of the energy company’s stock valued at $961,903,000 after acquiring an additional 130,520 shares in the last quarter. Finally, Hoertkorn Richard Charles grew its holdings in shares of Apache by 8.2% in the third quarter. Hoertkorn Richard Charles now owns 60,510 shares of the energy company’s stock valued at $2,771,000 after acquiring an additional 4,585 shares in the last quarter. 94.56% of the stock is owned by institutional investors.
Apache Co. (APA) opened at $42.22 on Tuesday. The firm has a market capitalization of $16,083.40, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 75.39 and a beta of 1.05. Apache Co. has a twelve month low of $38.14 and a twelve month high of $64.92. The company has a current ratio of 1.53, a quick ratio of 1.37 and a debt-to-equity ratio of 0.95.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Monday, January 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Friday, January 19th. This represents a $1.00 annualized dividend and a dividend yield of 2.37%. Apache’s dividend payout ratio is currently 57.47%.
In related news, Director John E. Lowe bought 3,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were purchased at an average price of $40.02 per share, for a total transaction of $120,060.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $600,300. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider P Anthony Lannie sold 19,514 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $44.04, for a total value of $859,396.56. Following the sale, the insider now owns 37,469 shares in the company, valued at approximately $1,650,134.76. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.
Several equities analysts have recently issued reports on the company. Barclays reaffirmed a “sell” rating and issued a $32.00 target price on shares of Apache in a report on Sunday, December 24th. Royal Bank of Canada set a $51.00 target price on Apache and gave the company a “hold” rating in a report on Wednesday, December 20th. Jefferies Group set a $35.00 target price on Apache and gave the company a “sell” rating in a report on Wednesday, December 20th. Credit Suisse Group assumed coverage on Apache in a report on Monday, December 11th. They issued a “neutral” rating and a $40.00 target price for the company. Finally, Scotiabank set a $49.00 target price on Apache and gave the company a “hold” rating in a report on Monday, November 13th. Ten equities research 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. Apache presently has a consensus rating of “Hold” and a consensus target price of $45.94.
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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