Washington Capital Management Inc. lifted its stake in shares of Apache Co. (NYSE:APA) by 11.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,615 shares of the energy company’s stock after buying an additional 3,500 shares during the quarter. Apache makes up approximately 1.6% of Washington Capital Management Inc.’s portfolio, making the stock its 24th biggest position. Washington Capital Management Inc.’s holdings in Apache were worth $1,540,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Apache by 658.0% during the second quarter. Hotchkis & Wiley Capital Management LLC now owns 7,427,314 shares of the energy company’s stock worth $355,991,000 after purchasing an additional 6,447,400 shares during the last quarter. Baillie Gifford & Co. raised its position in Apache by 58.0% in the second quarter. Baillie Gifford & Co. now owns 12,429,930 shares of the energy company’s stock worth $595,767,000 after acquiring an additional 4,561,430 shares in the last quarter. Harris Associates L P raised its position in Apache by 14.3% in the second quarter. Harris Associates L P now owns 18,741,407 shares of the energy company’s stock worth $898,275,000 after acquiring an additional 2,343,985 shares in the last quarter. Orbis Allan Gray Ltd raised its position in Apache by 11.5% in the second quarter. Orbis Allan Gray Ltd now owns 13,381,672 shares of the energy company’s stock worth $641,384,000 after acquiring an additional 1,381,096 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in Apache by 11.2% in the second quarter. Franklin Resources Inc. now owns 13,215,507 shares of the energy company’s stock worth $633,381,000 after acquiring an additional 1,335,127 shares in the last quarter. 94.55% of the stock is owned by institutional investors and hedge funds.
In other Apache news, insider P Anthony Lannie sold 19,514 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $44.04, for a total value of $859,396.56. Following the completion of the transaction, the insider now owns 37,469 shares of the company’s stock, valued at approximately $1,650,134.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.48% of the stock is currently owned by insiders.
Several research firms have weighed in on APA. Scotiabank reissued a “hold” rating and issued a $49.00 target price on shares of Apache in a report on Tuesday, October 10th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Apache in a research note on Thursday, September 21st. Barclays increased their price objective on Apache from $26.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, November 20th. Citigroup decreased their price target on Apache from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 15th. Finally, Royal Bank Of Canada set a $55.00 target price on Apache and gave the stock a “hold” rating in a research report on Thursday, August 24th. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $48.06.
Apache Co. (APA) opened at $43.21 on Tuesday. Apache Co. has a 52 week low of $38.14 and a 52 week high of $69.00. The company has a quick ratio of 1.37, a current ratio of 1.53 and a debt-to-equity ratio of 0.95.
Apache (NYSE:APA) last announced its quarterly earnings results on Thursday, November 2nd. The energy company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. Apache had a negative return on equity of 0.70% and a net margin of 10.60%. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. research analysts anticipate that Apache Co. will post 0.02 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Monday, October 23rd were given a dividend of $0.25 per share. The ex-dividend date was Friday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 2.31%. Apache’s dividend payout ratio is presently 57.47%.
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Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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