Tokio Marine Asset Management Co. Ltd. reduced its position in shares of Apache Corp. (NYSE:APA) by 10.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,838 shares of the energy company’s stock after selling 3,905 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Apache Corp. were worth $1,939,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of APA. First Midwest Bank Trust Division increased its position in Apache Corp. by 50.1% in the second quarter. First Midwest Bank Trust Division now owns 39,363 shares of the energy company’s stock valued at $2,191,000 after buying an additional 13,130 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in Apache Corp. by 22.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 35,459 shares of the energy company’s stock valued at $1,974,000 after buying an additional 6,385 shares during the last quarter. Retirement Systems of Alabama increased its position in Apache Corp. by 40.9% in the second quarter. Retirement Systems of Alabama now owns 273,838 shares of the energy company’s stock valued at $15,245,000 after buying an additional 79,550 shares during the last quarter. UMB Bank N A MO increased its position in Apache Corp. by 507.6% in the second quarter. UMB Bank N A MO now owns 123,893 shares of the energy company’s stock valued at $6,897,000 after buying an additional 103,503 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. acquired a new position in Apache Corp. during the second quarter valued at about $210,000. Hedge funds and other institutional investors own 91.25% of the company’s stock.
Apache Corp. (NYSE:APA) traded up 0.20% during mid-day trading on Friday, hitting $63.87. 5,292,485 shares of the stock traded hands. Apache Corp. has a 1-year low of $32.20 and a 1-year high of $66.00. The stock’s market cap is $24.23 billion. The company’s 50 day moving average price is $55.81 and its 200-day moving average price is $54.04.
Apache Corp. (NYSE:APA) last issued its quarterly earnings results on Thursday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.09. The business earned $1.38 billion during the quarter, compared to the consensus estimate of $1.31 billion. Apache Corp. had a negative return on equity of 4.16% and a negative net margin of 261.91%. The firm’s revenue was down 38.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 earnings per share. Analysts predict that Apache Corp. will post ($0.71) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Friday, October 21st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a $1.00 annualized dividend and a dividend yield of 1.57%. Apache Corp.’s payout ratio is -2.78%.
Several equities analysts have recently issued reports on APA shares. Atlantic Securities raised shares of Apache Corp. from a “neutral” rating to an “overweight” rating and raised their price target for the company from $41.00 to $70.00 in a research note on Monday, September 12th. Raymond James Financial Inc. raised their price target on shares of Apache Corp. from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, September 8th. Citigroup Inc. downgraded shares of Apache Corp. from a “buy” rating to a “neutral” rating and dropped their price target for the company from $55.00 to $53.00 in a research note 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 note on Wednesday, July 6th. Finally, Deutsche Bank AG raised their price target on shares of Apache Corp. from $53.00 to $57.00 and gave the company a “hold” rating in a research note on Thursday, September 8th. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $57.92.
In related news, insider Rebecca A. Hoyt sold 3,356 shares of the stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $60.94, for a total value of $204,514.64. Following the completion of the transaction, the insider now directly owns 12,755 shares in the company, valued at approximately $777,289.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.40% of the stock is currently owned by corporate insiders.
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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