Palo Capital Inc. purchased a new position in shares of Apache Co. (NYSE:APA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,648 shares of the energy company’s stock, valued at approximately $323,000.
Other large investors also recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Apache by 37.9% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,243,914 shares of the energy company’s stock worth $469,171,000 after buying an additional 2,816,600 shares in the last quarter. Harris Associates L P boosted its position in shares of Apache by 14.3% in the 2nd quarter. Harris Associates L P now owns 18,741,407 shares of the energy company’s stock worth $898,275,000 after buying an additional 2,343,985 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Apache in the 3rd quarter worth about $93,596,000. Orbis Allan Gray Ltd boosted its position in shares of Apache by 11.5% in the 2nd quarter. Orbis Allan Gray Ltd now owns 13,381,672 shares of the energy company’s stock worth $641,384,000 after buying an additional 1,381,096 shares in the last quarter. Finally, Hexavest Inc. purchased a new stake in shares of Apache in the 4th quarter worth about $30,979,000. 94.74% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director John E. Lowe acquired 3,000 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was bought at an average price of $40.02 per share, with a total value of $120,060.00. Following the purchase, the director now directly owns 15,000 shares in the company, valued at approximately $600,300. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider P Anthony Lannie sold 19,514 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $44.04, for a total transaction of $859,396.56. Following the transaction, the insider now directly owns 37,469 shares of the company’s stock, valued at approximately $1,650,134.76. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.
Apache Co. (APA) traded up $0.50 during trading hours on Wednesday, reaching $38.20. 4,463,593 shares of the company’s stock were exchanged, compared to its average volume of 4,440,000. Apache Co. has a 52 week low of $35.70 and a 52 week high of $56.67. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.37 and a current ratio of 1.53. The stock has a market cap of $14,550.00, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 4.07 and a beta of 1.05.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 22nd. Stockholders of record on Monday, April 23rd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, April 20th. Apache’s dividend payout ratio is currently 57.80%.
APA has been the topic of several recent research reports. Barclays reiterated a “sell” rating and issued a $32.00 price objective on shares of Apache in a research report on Sunday, December 24th. Morgan Stanley boosted their price objective on shares of Apache from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 18th. Credit Suisse Group initiated coverage on shares of Apache in a research report on Monday, December 11th. They issued a “neutral” rating and a $40.00 price objective on the stock. Royal Bank of Canada reiterated a “hold” rating and issued a $55.00 price objective on shares of Apache in a research report on Tuesday, November 7th. Finally, Jefferies Group set a $35.00 price objective on shares of Apache and gave the stock a “sell” rating in a research report on Wednesday, December 20th. Nine investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $45.69.
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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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