Anchor Capital Advisors LLC trimmed its stake in shares of Apache Corporation (NYSE:APA) by 4.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 707,933 shares of the energy company’s stock after selling 29,499 shares during the period. Apache Corporation makes up about 1.2% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 26th biggest position. Anchor Capital Advisors LLC owned approximately 0.19% of Apache Corporation worth $32,423,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Hanson McClain Inc. acquired a new position in shares of Apache Corporation during the second quarter worth approximately $106,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in shares of Apache Corporation during the second quarter worth approximately $142,000. Gs Investments Inc. acquired a new position in shares of Apache Corporation during the second quarter worth approximately $149,000. Bronfman E.L. Rothschild L.P. lifted its position in shares of Apache Corporation by 410.5% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,635 shares of the energy company’s stock worth $174,000 after purchasing an additional 2,923 shares in the last quarter. Finally, North Star Asset Management Inc. acquired a new position in shares of Apache Corporation during the third quarter worth approximately $206,000. Institutional investors own 94.98% of the company’s stock.
A number of brokerages have recently issued reports on APA. BMO Capital Markets reiterated a “hold” rating and set a $42.00 target price on shares of Apache Corporation in a research report on Tuesday, November 7th. Royal Bank Of Canada restated a “hold” rating and issued a $55.00 price objective on shares of Apache Corporation in a report on Tuesday, November 7th. Bank of America Corporation increased their price objective on shares of Apache Corporation from $41.00 to $42.00 and gave the company an “underperform” rating in a report on Monday, November 6th. Morgan Stanley increased their price objective on shares of Apache Corporation from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Wednesday, October 18th. Finally, Barclays PLC cut their price objective on shares of Apache Corporation from $30.00 to $26.00 and set an “underweight” rating on the stock in a report on Wednesday, October 11th. Ten investment analysts have rated the stock with a sell rating, ten 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 a consensus target price of $47.82.
Shares of Apache Corporation (NYSE APA) traded down $1.11 during mid-day trading on Monday, hitting $44.13. 2,237,600 shares of the stock traded hands, compared to its average volume of 3,679,983. The company has a quick ratio of 1.37, a current ratio of 1.53 and a debt-to-equity ratio of 0.95. Apache Corporation has a 52 week low of $38.14 and a 52 week high of $69.00.
Apache Corporation (NYSE:APA) last issued its quarterly earnings data on Thursday, November 2nd. The energy company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.09. Apache Corporation had a net margin of 10.60% and a negative return on equity of 0.70%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. The firm’s revenue was down 3.5% compared to the same quarter last year. research analysts anticipate that Apache Corporation will post -0.01 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, October 23rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Friday, October 20th. Apache Corporation’s dividend payout ratio is 57.47%.
In related news, Director John E. Lowe acquired 2,000 shares of the stock in a transaction dated Thursday, August 17th. The stock was bought at an average price of $40.32 per share, with a total value of $80,640.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at $483,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is owned by corporate insiders.
About Apache Corporation
Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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