Lucas Capital Management lowered its stake in shares of Apache Corp. (NYSE:APA) by 82.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,960 shares of the energy company’s stock after selling 27,800 shares during the period. Lucas Capital Management’s holdings in Apache Corp. were worth $332,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in APA. NN Investment Partners Holdings N.V. bought a new position in Apache Corp. during the first quarter valued at $107,000. Zions Bancorporation increased its position in Apache Corp. by 0.9% in the first quarter. Zions Bancorporation now owns 2,332 shares of the energy company’s stock valued at $115,000 after buying an additional 21 shares during the period. Williams Jones & Associates LLC bought a new position in Apache Corp. during the first quarter valued at $120,000. JNBA Financial Advisors increased its position in Apache Corp. by 99.1% in the second quarter. JNBA Financial Advisors now owns 2,578 shares of the energy company’s stock valued at $144,000 after buying an additional 1,283 shares during the period. Finally, IFP Advisors Inc increased its position in Apache Corp. by 44.8% in the first quarter. IFP Advisors Inc now owns 3,725 shares of the energy company’s stock valued at $182,000 after buying an additional 1,152 shares during the period. Institutional investors own 91.25% of the company’s stock.
Apache Corp. (NYSE:APA) traded up 1.35% during trading on Wednesday, hitting $64.65. The company had a trading volume of 3,450,917 shares. The stock’s market capitalization is $24.53 billion. Apache Corp. has a 52-week low of $32.20 and a 52-week high of $66.00. The firm’s 50 day moving average is $56.64 and its 200-day moving average is $54.32.
Apache Corp. (NYSE:APA) last issued its quarterly earnings results on Thursday, August 4th. The energy company reported ($0.26) EPS 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 business earned $1.38 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the business earned $0.22 EPS. The business’s quarterly revenue was down 38.5% on a year-over-year basis. On average, equities analysts forecast that Apache Corp. will post ($0.71) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Friday, October 21st will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, October 19th. This represents a $1.00 annualized dividend and a dividend yield of 1.55%. Apache Corp.’s dividend payout ratio (DPR) is currently -2.78%.
Several research firms recently weighed in on APA. Jefferies Group lifted their target price on Apache Corp. from $42.00 to $47.00 and gave the company an “underperform” rating in a research report on Monday, September 12th. Vetr downgraded Apache Corp. from a “hold” rating to a “sell” rating and set a $51.00 price objective on the stock. in a research report on Monday, August 22nd. Morgan Stanley restated a “hold” rating and issued a $69.00 price objective on shares of Apache Corp. in a research report on Monday, September 26th. Atlantic Securities upgraded Apache Corp. from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $41.00 to $70.00 in a research report on Monday, September 12th. Finally, Barclays PLC boosted their price objective on Apache Corp. from $49.00 to $50.00 and gave the company an “equal weight” rating in a research report on Thursday, September 1st. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $57.92.
In other news, insider Rebecca A. Hoyt sold 3,356 shares of Apache Corp. stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $60.94, for a total transaction of $204,514.64. Following the completion of the sale, the insider now directly owns 12,755 shares of the company’s stock, valued at approximately $777,289.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.40% of the company’s stock.
Apache Corp. Company Profile
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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