Belpointe Asset Management LLC cut its stake in shares of Apache Co. (NYSE:APA) by 8.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 19,818 shares of the energy company’s stock after selling 1,742 shares during the period. Belpointe Asset Management LLC’s holdings in Apache were worth $837,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. M Holdings Securities Inc. purchased a new stake in Apache during the 4th quarter worth approximately $205,000. Verition Fund Management LLC purchased a new stake in Apache during the 4th quarter worth approximately $485,000. Bramshill Investments LLC increased its holdings in Apache by 65.8% during the 4th quarter. Bramshill Investments LLC now owns 10,851 shares of the energy company’s stock worth $458,000 after purchasing an additional 4,308 shares during the last quarter. Millennium Management LLC purchased a new stake in Apache during the 4th quarter worth approximately $25,004,000. Finally, Sciencast Management LP purchased a new stake in Apache during the 4th quarter worth approximately $992,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.
APA traded down $0.41 during trading on Friday, reaching $38.34. 4,970,707 shares of the company were exchanged, compared to its average volume of 5,266,471. The company has a market cap of $14,781.10, a P/E ratio of 159.75, a PEG ratio of 3.57 and a beta of 1.10. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.45 and a quick ratio of 1.31. Apache Co. has a 52 week low of $33.60 and a 52 week high of $54.64.
Apache (NYSE:APA) last issued its quarterly earnings data on Thursday, February 22nd. The energy company reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.12. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.54 billion. Apache had a return on equity of 1.11% and a net margin of 20.32%. During the same period in the prior year, the business earned ($0.06) EPS. research analysts anticipate that Apache Co. will post 1.55 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 22nd. Investors of record on Monday, April 23rd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, April 20th. This represents a $1.00 dividend on an annualized basis and a yield of 2.61%. Apache’s payout ratio is currently 416.67%.
In other Apache news, Director John E. Lowe purchased 2,500 shares of Apache stock in a transaction on Friday, March 2nd. The stock was bought at an average price of $33.80 per share, for a total transaction of $84,500.00. Following the transaction, the director now owns 17,500 shares of the company’s stock, valued at approximately $591,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is owned by corporate insiders.
Several research firms have issued reports on APA. Citigroup dropped their price objective on Apache from $46.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Royal Bank of Canada reiterated a “hold” rating and issued a $45.00 price target on shares of Apache in a report on Monday, March 5th. Mitsubishi UFJ Financial Group upgraded Apache from a “neutral” rating to an “overweight” rating in a report on Tuesday, February 27th. Jefferies Group set a $32.00 price target on Apache and gave the company a “sell” rating in a report on Monday, March 19th. Finally, ValuEngine downgraded Apache from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Ten investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $41.07.
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Apache Company Profile
Apache Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids (NGLs). The company has operations in onshore assets located Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.
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