James Investment Research Inc. acquired a new position in shares of Apache Co. (NYSE:APA) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 44,670 shares of the energy company’s stock, valued at approximately $2,129,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in APA. Commonwealth Equity Services LLC lifted its position in shares of Apache by 24.5% during the second quarter. Commonwealth Equity Services LLC now owns 126,130 shares of the energy company’s stock worth $5,897,000 after purchasing an additional 24,836 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Apache during the second quarter worth $366,000. Investec Asset Management LTD acquired a new position in shares of Apache during the second quarter worth $9,009,000. Argent Trust Co lifted its position in shares of Apache by 365.5% during the second quarter. Argent Trust Co now owns 33,934 shares of the energy company’s stock worth $1,586,000 after purchasing an additional 26,644 shares in the last quarter. Finally, Zacks Investment Management lifted its position in shares of Apache by 101.4% during the second quarter. Zacks Investment Management now owns 78,890 shares of the energy company’s stock worth $3,688,000 after purchasing an additional 39,713 shares in the last quarter. Institutional investors own 96.72% of the company’s stock.
A number of research firms have recently commented on APA. Zacks Investment Research cut shares of Apache from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Morgan Stanley began coverage on shares of Apache in a research report on Thursday, July 12th. They set an “underweight” rating and a $42.00 target price on the stock. Stephens set a $55.00 target price on shares of Apache and gave the stock a “buy” rating in a research report on Monday, September 24th. Piper Jaffray Companies cut shares of Apache from an “overweight” rating to a “neutral” rating in a research report on Thursday, September 27th. Finally, Scotiabank reissued a “hold” rating and set a $55.00 target price on shares of Apache in a research report on Thursday, September 27th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $47.37.
In other Apache news, insider Stephen J. Riney bought 6,300 shares of the company’s stock in a transaction on Monday, August 27th. The shares were bought at an average cost of $43.51 per share, with a total value of $274,113.00. Following the completion of the acquisition, the insider now owns 42,184 shares of the company’s stock, valued at $1,835,425.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rebecca A. Hoyt sold 6,111 shares of the stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $47.48, for a total transaction of $290,150.28. Following the sale, the insider now directly owns 30,548 shares in the company, valued at $1,450,419.04. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by corporate insiders.
APA opened at $36.39 on Friday. The firm has a market capitalization of $14.32 billion, a P/E ratio of 151.63, a P/E/G ratio of 2.83 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.20 and a current ratio of 1.36. Apache Co. has a 12-month low of $33.60 and a 12-month high of $50.03.
Apache (NYSE:APA) last posted its quarterly earnings results on Wednesday, October 31st. The energy company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.16. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Apache had a net margin of 12.57% and a return on equity of 5.21%. The firm’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.04 earnings per share. As a group, equities research analysts anticipate that Apache Co. will post 1.89 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Monday, October 22nd will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, October 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.75%. Apache’s dividend payout ratio (DPR) is 416.67%.
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.
Featured Story: How are institutional investors different from individual investors?
Want to see what other hedge funds are holding APA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apache Co. (NYSE:APA).
Receive News & Ratings for Apache Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apache and related companies with MarketBeat.com's FREE daily email newsletter.