Twin Tree Management LP grew its stake in shares of Apache Co. (NYSE:APA) by 206.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,174 shares of the energy company’s stock after purchasing an additional 19,705 shares during the quarter. Twin Tree Management LP’s holdings in Apache were worth $391,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Apache by 0.5% during the fourth quarter. BlackRock Inc. now owns 25,438,112 shares of the energy company’s stock worth $1,073,997,000 after purchasing an additional 116,095 shares in the last quarter. Orbis Allan Gray Ltd raised its holdings in Apache by 2.8% during the fourth quarter. Orbis Allan Gray Ltd now owns 14,217,029 shares of the energy company’s stock worth $600,243,000 after purchasing an additional 382,624 shares in the last quarter. Geode Capital Management LLC raised its holdings in Apache by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 4,025,825 shares of the energy company’s stock worth $169,613,000 after purchasing an additional 120,764 shares in the last quarter. APG Asset Management N.V. raised its holdings in Apache by 19.9% during the fourth quarter. APG Asset Management N.V. now owns 3,394,463 shares of the energy company’s stock worth $119,349,000 after purchasing an additional 564,551 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Apache by 1.1% during the fourth quarter. Bank of New York Mellon Corp now owns 3,014,831 shares of the energy company’s stock worth $127,285,000 after purchasing an additional 34,091 shares in the last quarter. 96.27% of the stock is currently owned by institutional investors.
In other news, Director John E. Lowe acquired 2,500 shares of the stock in a transaction that occurred on Friday, March 2nd. The shares were purchased at an average cost of $33.80 per share, for a total transaction of $84,500.00. Following the transaction, the director now directly owns 17,500 shares in the company, valued at approximately $591,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.59% of the company’s stock.
Shares of Apache stock opened at $43.91 on Friday. The firm has a market capitalization of $16.82 billion, a PE ratio of 182.96, a price-to-earnings-growth ratio of 4.54 and a beta of 1.10. Apache Co. has a 12 month low of $33.60 and a 12 month high of $51.45. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.22 and a current ratio of 1.39.
Apache (NYSE:APA) last announced its earnings results on Wednesday, May 2nd. The energy company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. Apache had a net margin of 19.67% and a return on equity of 2.16%. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the company posted $0.08 EPS. equities research analysts expect that Apache Co. will post 1.38 EPS for the current fiscal year.
A number of research firms have weighed in on APA. Stifel Nicolaus set a $41.00 price objective on shares of Apache and gave the stock a “hold” rating in a report on Tuesday, January 30th. ValuEngine cut shares of Apache from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Royal Bank of Canada reissued a “hold” rating and set a $45.00 price objective on shares of Apache in a report on Monday, March 5th. UBS began coverage on shares of Apache in a report on Wednesday, March 7th. They set a “sell” rating and a $34.00 price objective on the stock. Finally, Credit Suisse Group reissued a “neutral” rating and set a $39.00 price objective (down previously from $43.00) on shares of Apache in a report on Friday, February 23rd. Ten equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. Apache currently has a consensus rating of “Hold” and an average target price of $41.13.
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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