Butensky & Cohen Financial Security Inc. cut its position in shares of Apache Corp. (NYSE:APA) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,600 shares of the energy company’s stock after selling 20 shares during the period. Butensky & Cohen Financial Security Inc.’s holdings in Apache Corp. were worth $1,258,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in APA. Dodge & Cox raised its stake in shares of Apache Corp. by 12.5% in the first quarter. Dodge & Cox now owns 29,259,714 shares of the energy company’s stock valued at $1,428,167,000 after buying an additional 3,245,030 shares during the last quarter. State Street Corp raised its stake in shares of Apache Corp. by 1.7% in the first quarter. State Street Corp now owns 18,912,725 shares of the energy company’s stock valued at $923,131,000 after buying an additional 323,381 shares during the last quarter. Orbis Allan Gray Ltd purchased a new stake in shares of Apache Corp. during the first quarter valued at $746,349,000. Franklin Resources Inc. raised its stake in shares of Apache Corp. by 11.2% in the first quarter. Franklin Resources Inc. now owns 15,268,708 shares of the energy company’s stock valued at $745,272,000 after buying an additional 1,537,564 shares during the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of Apache Corp. by 0.3% in the first quarter. BlackRock Fund Advisors now owns 5,132,368 shares of the energy company’s stock valued at $250,511,000 after buying an additional 13,486 shares during the last quarter. 91.26% of the stock is currently owned by hedge funds and other institutional investors.
Apache Corp. (NYSE:APA) traded down 1.21% on Monday, hitting $57.85. The stock had a trading volume of 3,261,981 shares. Apache Corp. has a 52 week low of $32.20 and a 52 week high of $60.19. The company has a 50-day moving average price of $52.97 and a 200-day moving average price of $53.27. The stock’s market capitalization is $21.95 billion.
Apache Corp. (NYSE:APA) last released its quarterly earnings data on Thursday, August 4th. The energy company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.09. Apache Corp. had a negative net margin of 261.91% and a negative return on equity of 4.16%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the business earned $0.22 EPS. The company’s revenue was down 38.5% compared to the same quarter last year. Equities research analysts anticipate that Apache Corp. will post ($0.69) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Friday, October 21st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Wednesday, October 19th. Apache Corp.’s dividend payout ratio (DPR) is -2.78%.
APA has been the topic of several recent research reports. Vetr raised Apache Corp. from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Wednesday, August 10th. KLR Group set a $73.00 price objective on Apache Corp. and gave the stock a “buy” rating in a report on Wednesday, September 14th. Barclays PLC lowered Apache Corp. from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $45.00 to $49.00 in a report on Friday, August 5th. They noted that the move was a valuation call. Zacks Investment Research lowered Apache Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 12th. Finally, Deutsche Bank AG lifted their price objective on Apache Corp. from $53.00 to $57.00 and gave the stock a “hold” rating in a report on Thursday, September 8th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $57.44.
About Apache Corp.
Apache Corporation (Apache) is an independent energy company. Both domestically and internationally, the Company explores for, develops and produces natural gas, crude oil and natural gas liquids. The Company has exploration and production interests in four countries: the United States, Canada, Egypt, and the United Kingdom (North Sea).
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