Northern Trust Corp Has $168.31 Million Stake in Apache Co. (NYSE:APA)
Northern Trust Corp lifted its stake in shares of Apache Co. (NYSE:APA) by 0.1% during the first quarter, HoldingsChannel reports. The firm owned 4,855,950 shares of the energy company’s stock after acquiring an additional 3,107 shares during the quarter. Northern Trust Corp’s holdings in Apache were worth $168,307,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the company. Rockefeller Capital Management L.P. grew its holdings in Apache by 357.6% in the 1st quarter. Rockefeller Capital Management L.P. now owns 787 shares of the energy company’s stock valued at $27,000 after buying an additional 615 shares in the last quarter. Capital Investment Advisory Services LLC acquired a new position in Apache in the 4th quarter valued at $29,000. Truehand Inc acquired a new position in Apache in the 4th quarter valued at $38,000. Oregon Public Employees Retirement Fund grew its holdings in Apache by 2,492.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,087,958 shares of the energy company’s stock valued at $41,000 after buying an additional 1,045,998 shares in the last quarter. Finally, Rational Advisors LLC grew its holdings in Apache by 12,875.0% in the 4th quarter. Rational Advisors LLC now owns 1,557 shares of the energy company’s stock valued at $41,000 after buying an additional 1,545 shares in the last quarter. Institutional investors own 96.50% of the company’s stock.
Shares of NYSE:APA traded down $0.81 during trading on Wednesday, reaching $28.04. 79,465 shares of the company traded hands, compared to its average volume of 4,369,594. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.87 and a current ratio of 1.05. Apache Co. has a 52 week low of $24.56 and a 52 week high of $50.03. The company has a market cap of $10.54 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 4.67 and a beta of 1.78.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Monday, July 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $1.00 annualized dividend and a dividend yield of 3.57%. Apache’s dividend payout ratio is currently 56.50%.
In other Apache news, Director Juliet S. Ellis acquired 3,500 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was acquired at an average cost of $27.26 per share, for a total transaction of $95,410.00. Following the transaction, the director now directly owns 3,500 shares in the company, valued at $95,410. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William Mark Meyer acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were acquired at an average price of $25.92 per share, with a total value of $51,840.00. Following the completion of the transaction, the executive vice president now owns 2,919 shares in the company, valued at $75,660.48. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 10,500 shares of company stock valued at $298,500. 0.69% of the stock is owned by corporate insiders.
A number of research analysts have commented on the company. Zacks Investment Research raised Apache from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Monday, May 20th. Credit Suisse Group upped their price objective on Apache from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, February 28th. Wolfe Research raised Apache from an “underperform” rating to a “peer perform” rating in a report on Monday, June 3rd. BMO Capital Markets upped their price objective on Apache from $30.00 to $36.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Finally, Citigroup upped their price objective on Apache from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $40.86.
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 in the Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.
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