Canandaigua National Bank & Trust Co. bought a new position in Apache Corp. (NYSE:APA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,766 shares of the energy company’s stock, valued at approximately $210,000.
A number of other hedge funds have also added to or reduced their stakes in APA. NN Investment Partners Holdings N.V. purchased a new position in shares of Apache Corp. during the first quarter valued at approximately $107,000. Zions Bancorporation raised its position in shares of 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 in the last quarter. Williams Jones & Associates LLC purchased a new position in shares of Apache Corp. during the first quarter valued at approximately $120,000. JNBA Financial Advisors raised its position in shares of 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 in the last quarter. Finally, IFP Advisors Inc raised its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 91.25% of the company’s stock.
Shares of Apache Corp. (NYSE:APA) traded up 0.18% during mid-day trading on Thursday, hitting $61.00. The stock had a trading volume of 7,239,837 shares. The company’s market cap is $23.14 billion. The stock has a 50 day moving average price of $53.76 and a 200-day moving average price of $53.44. Apache Corp. has a 52-week low of $32.20 and a 52-week high of $62.19.
Apache Corp. (NYSE:APA) last posted its quarterly earnings data on Thursday, August 4th. The energy company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.09. Apache Corp. had a negative return on equity of 4.16% and a negative net margin of 261.91%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the business posted $0.22 earnings per share. The firm’s revenue was down 38.5% compared to the same quarter last year. On average, equities analysts expect that Apache Corp. will post ($0.69) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Friday, October 21st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a $1.00 dividend on an annualized basis and a yield of 1.64%. Apache Corp.’s payout ratio is -2.78%.
APA has been the topic of a number of recent research reports. Atlantic Securities raised Apache Corp. from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $41.00 to $70.00 in a research report on Monday, September 12th. Raymond James Financial Inc. raised their price objective on Apache Corp. from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, September 8th. Citigroup Inc. downgraded Apache Corp. from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $55.00 to $53.00 in a research report on Tuesday, August 9th. They noted that the move was a valuation call. Wells Fargo & Co. reaffirmed an “outperform” rating on shares of Apache Corp. in a research report on Wednesday, July 6th. Finally, Deutsche Bank AG raised their price objective on Apache Corp. from $53.00 to $57.00 and gave the company a “hold” rating in a research report on Thursday, September 8th. Three research 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’s stock. The company has an average rating of “Hold” and a consensus target price of $57.44.
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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