Parametric Portfolio Associates LLC cut its position in shares of Apache Co. (NYSE:APA) by 40.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 691,514 shares of the energy company’s stock after selling 468,884 shares during the period. Parametric Portfolio Associates LLC’s holdings in Apache were worth $35,537,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the stock. Dodge & Cox acquired a new stake in Apache during the fourth quarter worth $1,834,035,000. Price T Rowe Associates Inc. MD increased its stake in 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 period. Norges Bank acquired a new stake in Apache during the fourth quarter worth $213,258,000. Ameriprise Financial Inc. increased its stake in Apache by 156.5% in the first quarter. Ameriprise Financial Inc. now owns 1,578,266 shares of the energy company’s stock worth $81,064,000 after buying an additional 962,883 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in Apache during the fourth quarter worth $52,553,000. Institutional investors own 93.38% of the company’s stock.
Apache Co. (APA) traded down 1.64% during midday trading on Tuesday, reaching $47.40. 524,499 shares of the company’s stock traded hands. The company’s market capitalization is $18.03 billion. The firm’s 50-day moving average is $50.35 and its 200-day moving average is $56.66. Apache Co. has a 1-year low of $46.09 and a 1-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. Apache had a negative net margin of 166.56% and a negative return on equity of 4.70%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the business earned ($0.40) earnings per share. Analysts forecast that Apache Co. will post $0.99 earnings per share for the current year.
The business 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 dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, July 19th. Apache’s dividend payout ratio is presently -4.42%.
A number of research firms have recently weighed in on APA. Barclays PLC restated a “sell” rating and issued a $41.00 target price (down from $50.00) on shares of Apache in a report on Thursday, April 20th. Zacks Investment Research downgraded shares of Apache from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. BMO Capital Markets restated a “hold” rating and issued a $53.00 target price on shares of Apache in a report on Monday, May 15th. Jefferies Group LLC restated a “sell” rating and issued a $40.00 target price on shares of Apache in a report on Wednesday, May 17th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $63.00 target price on shares of Apache in a report on Tuesday, April 25th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $60.53.
In related news, Director Rene R. Joyce purchased 10,000 shares of the company’s stock in a transaction on Monday, May 15th. The stock was acquired at an average cost of $51.38 per share, for a total transaction 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 document filed with the SEC, which is accessible through the SEC website. 0.40% of the stock is owned by company 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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