First Interstate Bank Has $2.05 Million Stake in Apache Corporation (APA)

First Interstate Bank lifted its position in shares of Apache Corporation (NYSE:APA) by 6.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,742 shares of the energy company’s stock after purchasing an additional 2,717 shares during the period. First Interstate Bank’s holdings in Apache Corporation were worth $2,049,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of APA. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Apache Corporation by 658.0% during the second quarter. Hotchkis & Wiley Capital Management LLC now owns 7,427,314 shares of the energy company’s stock worth $355,991,000 after purchasing an additional 6,447,400 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of Apache Corporation by 58.0% during the second quarter. Baillie Gifford & Co. now owns 12,429,930 shares of the energy company’s stock worth $595,767,000 after purchasing an additional 4,561,430 shares during the period. Harris Associates L P boosted its holdings in shares of Apache Corporation by 14.3% during the second quarter. Harris Associates L P now owns 18,741,407 shares of the energy company’s stock worth $898,275,000 after purchasing an additional 2,343,985 shares during the period. Orbis Allan Gray Ltd boosted its holdings in shares of Apache Corporation by 11.5% during the second quarter. Orbis Allan Gray Ltd now owns 13,381,672 shares of the energy company’s stock worth $641,384,000 after purchasing an additional 1,381,096 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of Apache Corporation by 11.2% during the second quarter. Franklin Resources Inc. now owns 13,215,507 shares of the energy company’s stock worth $633,381,000 after purchasing an additional 1,335,127 shares during the period. Institutional investors own 93.63% of the company’s stock.

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Shares of Apache Corporation (NYSE:APA) traded down $0.11 during midday trading on Tuesday, hitting $41.07. 2,707,300 shares of the company’s stock were exchanged, compared to its average volume of 3,646,363. Apache Corporation has a fifty-two week low of $38.14 and a fifty-two week high of $69.00. 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 (NYSE:APA) last announced its earnings results on Thursday, November 2nd. The energy company reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.09. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.39 billion. Apache Corporation had a net margin of 10.60% and a negative return on equity of 0.70%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.03) earnings per share. sell-side analysts anticipate that Apache Corporation will post -0.01 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors 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 2.43%. The ex-dividend date of this dividend is Friday, October 20th. Apache Corporation’s dividend payout ratio (DPR) is currently 57.47%.

APA has been the subject of a number of analyst reports. Morgan Stanley increased their target price on shares of Apache Corporation from $45.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 18th. Scotiabank set a $49.00 target price on shares of Apache Corporation and gave the stock a “hold” rating in a report on Monday, November 13th. Bank of America Corporation increased their target price on shares of Apache Corporation from $41.00 to $42.00 and gave the stock an “underperform” rating in a report on Monday, November 6th. BMO Capital Markets set a $45.00 target price on shares of Apache Corporation and gave the stock a “hold” rating in a report on Tuesday, October 10th. Finally, J P Morgan Chase & Co lowered shares of Apache Corporation from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $46.00 to $38.00 in a report on Thursday, September 14th. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Apache Corporation presently has a consensus rating of “Hold” and a consensus price target of $48.06.

Apache Corporation Company Profile

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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Institutional Ownership by Quarter for Apache Corporation (NYSE:APA)

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