Raymond James Financial Services Advisors Inc. boosted its stake in shares of Apache Co. (NYSE:APA) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,816 shares of the energy company’s stock after buying an additional 1,858 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Apache were worth $3,177,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of APA. Dodge & Cox purchased a new stake in Apache during the fourth quarter valued at about $1,834,035,000. State Street Corp raised its stake in Apache by 2.8% in the fourth quarter. State Street Corp now owns 19,791,339 shares of the energy company’s stock valued at $1,256,156,000 after buying an additional 540,893 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Apache by 36.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 17,780,475 shares of the energy company’s stock worth $1,135,639,000 after buying an additional 4,765,205 shares during the last quarter. Harris Associates L P increased its position in shares of Apache by 16.4% in the first quarter. Harris Associates L P now owns 16,397,422 shares of the energy company’s stock worth $842,663,000 after buying an additional 2,307,915 shares during the last quarter. Finally, FIL Ltd increased its position in shares of Apache by 15.6% in the fourth quarter. FIL Ltd now owns 5,137,355 shares of the energy company’s stock worth $326,068,000 after buying an additional 694,906 shares during the last quarter. 93.38% of the stock is currently owned by institutional investors and hedge funds.
Shares of Apache Co. (APA) traded up 0.06% on Tuesday, hitting $46.76. The stock had a trading volume of 313,278 shares. The stock’s market capitalization is $17.79 billion. The firm’s 50 day moving average is $49.38 and its 200-day moving average is $56.12. Apache Co. has a one year low of $46.09 and a one year high of $69.00.
Apache (NYSE:APA) last announced its quarterly earnings results on Thursday, May 4th. The energy company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by $0.08. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.49 billion. Apache had a negative return on equity of 4.70% and a negative net margin of 166.56%. During the same period last year, the firm earned ($0.40) EPS. Equities research analysts expect that Apache Co. will post $0.96 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Friday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, July 19th. Apache’s dividend payout ratio (DPR) is presently -4.42%.
APA has been the subject of a number of recent research reports. Bank of America Corp downgraded Apache to an “underperform” rating in a research note on Tuesday, February 28th. Zacks Investment Research upgraded Apache from a “sell” rating to a “hold” rating in a research note on Wednesday, May 10th. ValuEngine downgraded Apache from a “hold” rating to a “sell” rating in a research note on Friday. Stifel Nicolaus initiated coverage on Apache in a research note on Friday, April 7th. They set a “hold” rating and a $54.00 price objective for the company. Finally, Scotiabank restated a “hold” rating and set a $58.00 price objective on shares of Apache in a research note on Friday, May 5th. Six research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $60.53.
In other Apache news, Director Rene R. Joyce purchased 10,000 shares of the stock in a transaction on Monday, May 15th. The shares were purchased at an average price of $51.38 per share, with a total value of $513,800.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $513,800. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.40% of the stock is owned by insiders.
Apache Company Profile
Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. It has production in four segments: the United States, Canada, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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