OppenheimerFunds Inc. grew its position in shares of Apache Co. (NYSE:APA) by 12.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,657 shares of the energy company’s stock after buying an additional 2,858 shares during the quarter. OppenheimerFunds Inc.’s holdings in Apache were worth $1,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in APA. Nationwide Fund Advisors lifted its holdings in shares of Apache by 6.0% during the 3rd quarter. Nationwide Fund Advisors now owns 142,708 shares of the energy company’s stock valued at $6,536,000 after buying an additional 8,029 shares during the period. Alps Advisors Inc. lifted its holdings in shares of Apache by 28.4% during the 3rd quarter. Alps Advisors Inc. now owns 7,554 shares of the energy company’s stock valued at $346,000 after buying an additional 1,671 shares during the period. Retirement Systems of Alabama increased its stake in shares of Apache by 15.9% in the 3rd quarter. Retirement Systems of Alabama now owns 307,414 shares of the energy company’s stock worth $14,080,000 after purchasing an additional 42,132 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Apache by 9.9% in the 3rd quarter. New York State Common Retirement Fund now owns 1,392,662 shares of the energy company’s stock worth $63,784,000 after purchasing an additional 125,819 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in shares of Apache by 12.1% in the 3rd quarter. Toronto Dominion Bank now owns 144,476 shares of the energy company’s stock worth $6,617,000 after purchasing an additional 15,609 shares in the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director John E. Lowe acquired 2,500 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was acquired at an average price of $33.80 per share, with a total value of $84,500.00. Following the acquisition, the director now directly owns 17,500 shares of the company’s stock, valued at $591,500. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.48% of the stock is owned by corporate insiders.
APA has been the subject of several analyst reports. Morgan Stanley upped their price objective on Apache from $46.00 to $48.00 and gave the stock 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 research note on Tuesday, January 30th. Royal Bank of Canada restated a “hold” rating and issued a $45.00 price objective on shares of Apache in a research note on Monday, March 5th. BMO Capital Markets restated a “hold” rating and issued a $35.00 price objective on shares of Apache in a research note on Tuesday, February 27th. Finally, Credit Suisse Group initiated coverage on Apache in a research note on Monday, December 11th. They issued a “neutral” rating and a $40.00 price objective for the company. Ten equities research 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’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $41.07.
APA stock traded down $0.41 during trading on Friday, reaching $38.34. The company’s stock had a trading volume of 4,970,707 shares, compared to its average volume of 5,266,471. Apache Co. has a 1 year low of $33.60 and a 1 year high of $54.64. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.31 and a current ratio of 1.45. The firm has a market capitalization of $14,781.10, a PE ratio of 159.75, a PEG ratio of 3.57 and a beta of 1.10.
Apache (NYSE:APA) last issued its quarterly earnings results on Thursday, February 22nd. The energy company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.12. Apache had a return on equity of 1.11% and a net margin of 20.32%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the business posted ($0.06) EPS. sell-side analysts forecast that Apache Co. will post 1.55 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 22nd. Shareholders of record on Monday, April 23rd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Friday, April 20th. Apache’s dividend payout ratio (DPR) is presently 416.67%.
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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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