M&T Bank Corp Sells 5,126 Shares of Apache Co. (APA)

M&T Bank Corp reduced its position in Apache Co. (NYSE:APA) by 15.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,062 shares of the energy company’s stock after selling 5,126 shares during the quarter. M&T Bank Corp’s holdings in Apache were worth $1,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Kornitzer Capital Management Inc. KS increased its position in Apache by 28.7% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 672,680 shares of the energy company’s stock worth $28,401,000 after buying an additional 149,955 shares during the last quarter. Hoertkorn Richard Charles increased its position in Apache by 8.2% in the third quarter. Hoertkorn Richard Charles now owns 60,510 shares of the energy company’s stock worth $2,771,000 after buying an additional 4,585 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Apache by 6.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 51,565 shares of the energy company’s stock worth $2,362,000 after buying an additional 3,009 shares during the last quarter. Greylin Investment Mangement Inc. increased its position in Apache by 87.0% in the fourth quarter. Greylin Investment Mangement Inc. now owns 60,455 shares of the energy company’s stock worth $2,552,000 after buying an additional 28,120 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Apache by 4.3% in the third quarter. Janney Montgomery Scott LLC now owns 70,894 shares of the energy company’s stock worth $3,247,000 after buying an additional 2,929 shares during the last quarter. 94.65% of the stock is owned by institutional investors and hedge funds.

In related news, insider P Anthony Lannie sold 19,514 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $44.04, for a total transaction of $859,396.56. Following the completion of the transaction, the insider now directly owns 37,469 shares in the company, valued at $1,650,134.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John E. Lowe bought 3,000 shares of Apache stock in a transaction that occurred on Wednesday, December 13th. The shares were acquired at an average price of $40.02 per share, with a total value of $120,060.00. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $600,300. The disclosure for this purchase can be found here. 0.48% of the stock is owned by insiders.

Apache Co. (APA) opened at $38.11 on Tuesday. Apache Co. has a 52-week low of $35.70 and a 52-week high of $56.51. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.53 and a quick ratio of 1.37.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 22nd. Investors of record on Monday, April 23rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.62%. The ex-dividend date is Friday, April 20th. Apache’s payout ratio is 57.47%.

A number of analysts have issued reports on the company. ValuEngine downgraded Apache from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Stifel Nicolaus set a $41.00 price target on Apache and gave the company a “hold” rating in a research report on Tuesday, January 30th. Morgan Stanley lifted their price target on Apache from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Barclays reiterated a “sell” rating and issued a $32.00 price target on shares of Apache in a research report on Sunday, December 24th. Finally, Royal Bank of Canada set a $51.00 price target on Apache and gave the company a “hold” rating in a research report on Wednesday, December 20th. Nine research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $45.69.

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Apache Profile

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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Institutional Ownership by Quarter for Apache (NYSE:APA)

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