State of Tennessee Treasury Department reduced its stake in shares of Apache Corporation (NYSE:APA) by 13.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,842 shares of the energy company’s stock after selling 18,193 shares during the quarter. State of Tennessee Treasury Department’s holdings in Apache Corporation were worth $5,534,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of APA. Hanson McClain Inc. bought a new position in Apache Corporation during the 2nd quarter worth $106,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in Apache Corporation during the 2nd quarter worth $142,000. Gs Investments Inc. acquired a new position in Apache Corporation during the 2nd quarter worth $149,000. Bronfman E.L. Rothschild L.P. boosted its position in Apache Corporation by 410.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,635 shares of the energy company’s stock worth $174,000 after acquiring an additional 2,923 shares during the period. Finally, Dupont Capital Management Corp acquired a new position in Apache Corporation during the 2nd quarter worth $200,000. Hedge funds and other institutional investors own 94.98% of the company’s stock.
In other Apache Corporation news, Director John E. Lowe bought 2,000 shares of Apache Corporation stock in a transaction on Thursday, August 17th. The shares were purchased at an average cost of $40.32 per share, for a total transaction of $80,640.00. Following the completion of the acquisition, the director now owns 12,000 shares in the company, valued at approximately $483,840. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.48% of the company’s stock.
Shares of Apache Corporation (NYSE:APA) opened at $43.49 on Tuesday. Apache Corporation has a 52 week low of $38.14 and a 52 week high of $69.00. The company has a current ratio of 1.53, a quick ratio of 1.37 and a debt-to-equity ratio of 0.95.
Apache Corporation (NYSE:APA) last posted its quarterly earnings results 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 negative return on equity of 0.70% and a net margin of 10.60%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the company earned ($0.03) EPS. The firm’s revenue was down 3.5% on a year-over-year basis. sell-side analysts predict that Apache Corporation will post -0.01 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, October 23rd will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, October 20th. This represents a $1.00 annualized dividend and a yield of 2.30%. Apache Corporation’s dividend payout ratio is presently 57.47%.
APA has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on Apache Corporation from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 18th. Scotiabank set a $49.00 price target on Apache Corporation and gave the stock a “hold” rating in a research report on Monday. Bank of America Corporation boosted their price target on Apache Corporation from $41.00 to $42.00 and gave the stock an “underperform” rating in a research report on Monday, November 6th. BMO Capital Markets set a $45.00 price objective on Apache Corporation and gave the company a “hold” rating in a report on Tuesday, October 10th. Finally, J P Morgan Chase & Co lowered Apache Corporation from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $46.00 to $38.00 in a report on Thursday, September 14th. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $47.82.
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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