Gibraltar Capital Management Inc. raised its stake in shares of Apache Corp. (NYSE:APA) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 9,848 shares of the energy company’s stock after buying an additional 6 shares during the period. Apache Corp. accounts for about 0.7% of Gibraltar Capital Management Inc.’s holdings, making the stock its 25th largest position. Gibraltar Capital Management Inc.’s holdings in Apache Corp. were worth $548,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of APA. NN Investment Partners Holdings N.V. bought a new stake in shares of Apache Corp. during the first quarter worth about $107,000. Zions Bancorporation raised its stake 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 worth $115,000 after buying an additional 21 shares during the period. Williams Jones & Associates LLC bought a new stake in shares of Apache Corp. during the first quarter worth about $120,000. JNBA Financial Advisors raised its stake 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 worth $144,000 after buying an additional 1,283 shares during the period. Finally, Sabal Trust CO bought a new stake in shares of Apache Corp. during the second quarter worth about $202,000. Institutional investors and hedge funds own 91.18% of the company’s stock.
Shares of Apache Corp. (NYSE:APA) traded up 3.48% on Wednesday, hitting $64.76. 2,372,164 shares of the stock traded hands. The firm’s 50 day moving average is $59.60 and its 200 day moving average is $55.31. Apache Corp. has a 52 week low of $32.20 and a 52 week high of $66.00. The firm’s market capitalization is $24.57 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 consensus estimate 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 firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the business earned $0.22 EPS. The firm’s revenue was down 38.5% compared to the same quarter last year. On average, analysts expect that Apache Corp. will post ($0.71) EPS 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 paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.59%. The ex-dividend date is Wednesday, October 19th. Apache Corp.’s payout ratio is -2.78%.
A number of equities research analysts have recently issued reports on the stock. Jefferies Group restated a “sell” rating and issued a $48.00 target price on shares of Apache Corp. in a research note on Wednesday. Wolfe Research upgraded shares of Apache Corp. from an “underperform” rating to a “market perform” rating in a research note on Monday, September 12th. Citigroup Inc. downgraded shares of Apache Corp. from a “buy” rating to a “neutral” rating and lowered 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. Credit Suisse Group AG reaffirmed a “hold” rating and set a $67.00 price objective on shares of Apache Corp. in a research report on Monday, September 12th. Finally, Barclays PLC downgraded shares of Apache Corp. from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $45.00 to $49.00 in a research report on Friday, August 5th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $58.69.
In related news, insider Rebecca A. Hoyt sold 3,356 shares of Apache Corp. stock in a transaction that occurred 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 transaction, the insider now owns 12,755 shares of the company’s stock, valued at approximately $777,289.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.40% of the company’s stock.
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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