Gulf International Bank UK Ltd Has $6.35 Million Stake in Apache Co. (APA)
Gulf International Bank UK Ltd boosted its stake in Apache Co. (NYSE:APA) by 15.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 133,112 shares of the energy company’s stock after buying an additional 18,100 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Apache were worth $6,345,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of APA. Baillie Gifford & Co. lifted its holdings in Apache by 76.2% in the second quarter. Baillie Gifford & Co. now owns 24,490,129 shares of the energy company’s stock worth $1,144,913,000 after buying an additional 10,592,806 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Apache by 71.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,644,974 shares of the energy company’s stock worth $170,375,000 after buying an additional 1,512,960 shares during the period. Manitou Investment Management Ltd. purchased a new stake in Apache in the third quarter worth about $34,350,000. Sei Investments Co. lifted its holdings in Apache by 4,112.2% in the second quarter. Sei Investments Co. now owns 238,538 shares of the energy company’s stock worth $11,152,000 after buying an additional 232,875 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Apache by 38.1% in the second quarter. First Trust Advisors LP now owns 727,185 shares of the energy company’s stock worth $33,996,000 after buying an additional 200,603 shares during the period. Institutional investors and hedge funds own 96.62% of the company’s stock.
Several brokerages have commented on APA. BMO Capital Markets restated a “hold” rating and issued a $40.00 price objective on shares of Apache in a report on Monday, November 5th. Macquarie upgraded shares of Apache from an “underperform” rating to a “neutral” rating and set a $37.00 price objective for the company in a report on Friday, November 2nd. They noted that the move was a valuation call. Stephens set a $55.00 price objective on shares of Apache and gave the stock a “buy” rating in a report on Thursday, November 1st. Stifel Nicolaus set a $53.00 price objective on shares of Apache and gave the stock a “hold” rating in a report on Thursday, November 1st. Finally, Raymond James restated a “buy” rating and issued a $65.00 price objective on shares of Apache in a report on Thursday, November 1st. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $47.37.
Apache (NYSE:APA) last announced its earnings results on Wednesday, October 31st. The energy company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.16. Apache had a net margin of 12.11% and a return on equity of 7.71%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the firm earned $0.04 earnings per share. The business’s revenue for the quarter was up 25.9% on a year-over-year basis. On average, sell-side analysts anticipate that Apache Co. will post 1.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Monday, October 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Friday, October 19th. Apache’s dividend payout ratio is 416.67%.
In related news, insider Rebecca A. Hoyt sold 6,111 shares of the firm’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $47.48, for a total transaction of $290,150.28. Following the completion of the sale, the insider now owns 30,548 shares of the company’s stock, valued at $1,450,419.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen J. Riney purchased 6,300 shares of Apache stock in a transaction that occurred on Monday, August 27th. The shares were purchased at an average cost of $43.51 per share, with a total value of $274,113.00. Following the transaction, the insider now directly owns 42,184 shares of the company’s stock, valued at $1,835,425.84. The disclosure for this purchase can be found here. 0.59% of the stock is currently owned by company insiders.
Apache Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids (NGLs). The company has operations in onshore assets located Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.
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