Westpac Banking Corp increased its stake in Apache Co. (NYSE:APA) by 18.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,337 shares of the energy company’s stock after acquiring an additional 10,677 shares during the period. Westpac Banking Corp’s holdings in Apache were worth $2,927,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new stake in Apache in the third quarter valued at $134,000. Valeo Financial Advisors LLC acquired a new stake in Apache in the third quarter valued at $135,000. Gs Investments Inc. acquired a new stake in Apache in the second quarter valued at $149,000. North Star Asset Management Inc. acquired a new stake in Apache in the third quarter valued at $206,000. Finally, Deprince Race & Zollo Inc. acquired a new stake in Apache in the third quarter valued at $206,000. Institutional investors and hedge funds own 94.74% of the company’s stock.
In other Apache news, Director John E. Lowe acquired 3,000 shares of the stock in a transaction on Wednesday, December 13th. The shares were bought at an average price of $40.02 per share, with a total value of $120,060.00. Following the acquisition, the director now owns 15,000 shares of the company’s stock, valued at $600,300. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider P Anthony Lannie sold 19,514 shares of Apache stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $44.04, for a total value of $859,396.56. Following the completion of the sale, the insider now directly owns 37,469 shares in the company, valued at approximately $1,650,134.76. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.
A number of research firms have weighed in on APA. Morgan Stanley raised their price target on Apache from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Stifel Nicolaus set a $41.00 price objective on Apache and gave the stock a “hold” rating in a report on Tuesday, January 30th. Royal Bank of Canada reaffirmed a “hold” rating and set a $55.00 price objective on shares of Apache in a report on Tuesday, November 7th. Bank of America raised their price objective on Apache from $41.00 to $42.00 and gave the stock an “underperform” rating in a report on Monday, November 6th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $42.00 price objective on shares of Apache in a report on Tuesday, November 7th. Nine investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $45.69.
Apache Co. (APA) traded up $0.50 during midday trading on Wednesday, hitting $38.20. The company had a trading volume of 4,485,367 shares, compared to its average volume of 4,440,000. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.37 and a current ratio of 1.53. Apache Co. has a 52-week low of $35.70 and a 52-week high of $56.67. The stock has a market capitalization of $14,550.00, a price-to-earnings ratio of 22.08, a P/E/G ratio of 4.07 and a beta of 1.05.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 22nd. Investors of record on Monday, April 23rd will be issued 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%.
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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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