Paloma Partners Management Co lowered its stake in shares of Apache Co. (NYSE:APA) by 42.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,384 shares of the energy company’s stock after selling 24,929 shares during the quarter. Paloma Partners Management Co’s holdings in Apache were worth $1,410,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. lifted its stake in Apache by 12.1% during the fourth quarter. Hartford Financial Management Inc. now owns 10,189 shares of the energy company’s stock worth $430,000 after purchasing an additional 1,100 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in Apache by 2.3% during the fourth quarter. Mutual of America Capital Management LLC now owns 50,419 shares of the energy company’s stock worth $2,129,000 after purchasing an additional 1,133 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Apache by 1.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 81,213 shares of the energy company’s stock worth $3,431,000 after purchasing an additional 1,258 shares during the last quarter. Engineers Gate Manager LP lifted its stake in Apache by 13.6% during the fourth quarter. Engineers Gate Manager LP now owns 10,642 shares of the energy company’s stock worth $449,000 after purchasing an additional 1,271 shares during the last quarter. Finally, FDx Advisors Inc. lifted its stake in Apache by 4.8% during the fourth quarter. FDx Advisors Inc. now owns 30,470 shares of the energy company’s stock worth $1,286,000 after purchasing an additional 1,383 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the company. Stifel Nicolaus set a $48.00 price objective on Apache and gave the stock a “hold” rating in a research note on Wednesday, March 28th. Jefferies Group set a $32.00 price objective on Apache and gave the stock a “sell” rating in a research note on Monday, March 19th. BMO Capital Markets restated a “hold” rating and set a $35.00 price objective on shares of Apache in a research note on Tuesday, February 27th. Citigroup reduced their price objective on Apache from $46.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. Finally, Credit Suisse Group restated a “neutral” rating and set a $39.00 price objective (down from $43.00) on shares of Apache in a research note on Friday, February 23rd. Ten equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $41.07.
APA stock traded down $0.41 during mid-day trading on Friday, reaching $38.34. The company had a trading volume of 4,970,736 shares, compared to its average volume of 5,266,471. 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 stock has a market capitalization of $14,624.72, a price-to-earnings ratio of 159.75, a PEG ratio of 3.54 and a beta of 1.10. Apache Co. has a one year low of $33.60 and a one year high of $54.64.
Apache (NYSE:APA) last issued its quarterly earnings results on Thursday, February 22nd. The energy company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.12. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.54 billion. Apache had a return on equity of 1.11% and a net margin of 20.32%. During the same period last year, the company earned ($0.06) earnings per share. analysts predict that Apache Co. will post 1.55 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 22nd. Stockholders 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 2.61%. The ex-dividend date of this dividend is Friday, April 20th. Apache’s dividend payout ratio (DPR) is 416.67%.
In other Apache news, Director John E. Lowe purchased 2,500 shares of the stock in a transaction dated Friday, March 2nd. The shares were bought at an average cost of $33.80 per share, with a total value of $84,500.00. Following the completion of the acquisition, the director now owns 17,500 shares of the company’s stock, valued at $591,500. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.48% of the stock is currently owned by company insiders.
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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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