First Trust Advisors LP reduced its position in shares of Apache Co. (NYSE:APA) by 62.0% during the first quarter, Holdings Channel reports. The fund owned 284,198 shares of the energy company’s stock after selling 462,997 shares during the period. First Trust Advisors LP owned approximately 0.07% of Apache worth $14,605,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Reinhart Partners Inc. boosted its position in Apache by 22.7% in the first quarter. Reinhart Partners Inc. now owns 656,460 shares of the energy company’s stock worth $33,735,000 after buying an additional 121,510 shares during the last quarter. Eagle Ridge Investment Management boosted its position in Apache by 6.3% in the first quarter. Eagle Ridge Investment Management now owns 4,234 shares of the energy company’s stock worth $218,000 after buying an additional 250 shares during the last quarter. Albert D Mason Inc. boosted its position in Apache by 0.6% in the first quarter. Albert D Mason Inc. now owns 8,735 shares of the energy company’s stock worth $449,000 after buying an additional 55 shares during the last quarter. Tyers Asset Management LLC boosted its position in Apache by 34.9% in the first quarter. Tyers Asset Management LLC now owns 11,592 shares of the energy company’s stock worth $596,000 after buying an additional 2,996 shares during the last quarter. Finally, ING Groep NV boosted its position in Apache by 6.9% in the first quarter. ING Groep NV now owns 11,115 shares of the energy company’s stock worth $571,000 after buying an additional 717 shares during the last quarter. 93.38% of the stock is owned by institutional investors.
Apache Co. (NYSE:APA) traded up 1.38% during midday trading on Friday, reaching $50.61. 755,224 shares of the company traded hands. The firm’s market capitalization is $19.25 billion. Apache Co. has a 12 month low of $46.09 and a 12 month high of $69.00. The firm’s 50 day moving average price is $50.67 and its 200 day moving average price is $57.02.
Apache (NYSE:APA) last announced its earnings results on Thursday, May 4th. The energy company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.08. Apache had a negative return on equity of 4.70% and a negative net margin of 166.56%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm posted ($0.40) earnings per share. On average, analysts expect that Apache Co. will post $1.02 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Friday, July 21st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Wednesday, July 19th. Apache’s dividend payout ratio is presently -4.42%.
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A number of research firms have weighed in on APA. Jefferies Group LLC reissued a “sell” rating and issued a $40.00 price objective on shares of Apache in a research report on Wednesday. Scotiabank reissued a “hold” rating and issued a $58.00 price objective on shares of Apache in a research report on Monday. BMO Capital Markets reissued a “hold” rating and issued a $53.00 price objective on shares of Apache in a research report on Monday. Bank of America Corp reissued a “buy” rating and issued a $57.00 price objective (down from $60.00) on shares of Apache in a research report on Thursday, May 11th. Finally, Zacks Investment Research raised shares of Apache from a “sell” rating to a “hold” rating in a research report on Wednesday, May 10th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $60.00.
In other Apache news, Director Rene R. Joyce purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was acquired at an average cost of $51.38 per share, with a total value of $513,800.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $513,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.40% of the company’s stock.
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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