Tower Research Capital LLC TRC acquired a new stake in shares of Apache Corp. (NYSE:APA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,110 shares of the energy company’s stock, valued at approximately $117,000.
Several other large investors also recently added to or reduced their stakes in the stock. Orbis Allan Gray Ltd bought a new stake in Apache Corp. during the first quarter valued at approximately $746,349,000. Dodge & Cox increased its stake in 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. Vanguard Group Inc. increased its stake in Apache Corp. by 5.1% in the second quarter. Vanguard Group Inc. now owns 24,605,166 shares of the energy company’s stock valued at $1,369,769,000 after buying an additional 1,199,481 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in Apache Corp. during the second quarter valued at approximately $50,168,000. Finally, Schroder Investment Management Group increased its stake in Apache Corp. by 772.2% in the second quarter. Schroder Investment Management Group now owns 551,576 shares of the energy company’s stock valued at $30,706,000 after buying an additional 488,338 shares during the last quarter. 91.26% of the stock is owned by institutional investors.
Apache Corp. (NYSE:APA) opened at 62.71 on Thursday. The stock’s market cap is $23.79 billion. Apache Corp. has a 12 month low of $32.20 and a 12 month high of $66.00. The company’s 50 day moving average price is $58.51 and its 200 day moving average price is $54.87.
Apache Corp. (NYSE:APA) last announced its quarterly earnings results on Thursday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.09. The firm earned $1.38 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Apache Corp. had a negative net margin of 261.91% and a negative return on equity of 4.16%. The firm’s revenue for the quarter was down 38.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 EPS. Equities analysts forecast that Apache Corp. will post ($0.71) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Friday, October 21st will be issued a $0.25 dividend. The ex-dividend date is Wednesday, October 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.59%. Apache Corp.’s payout ratio is -2.78%.
APA has been the topic of a number of research analyst reports. Credit Suisse Group AG restated a “hold” rating and issued a $67.00 price target on shares of Apache Corp. in a research note on Monday, September 12th. Citigroup Inc. cut 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. Vetr upgraded Apache Corp. from a “sell” rating to a “hold” rating and set a $51.00 price target on the stock in a research note on Monday, August 29th. Credit Agricole SA initiated coverage on Apache Corp. in a research note on Wednesday, June 22nd. They issued an “underperform” rating on the stock. Finally, Jefferies Group restated a “sell” rating on shares of Apache Corp. in a research note on Thursday, August 11th. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $57.92.
In related news, insider Rebecca A. Hoyt sold 3,356 shares of the company’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $60.94, for a total value of $204,514.64. Following the transaction, 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 legal filing with the SEC, which is available through this hyperlink. 0.40% of the stock is 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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