Apache Co. (APA) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. trimmed its stake in shares of Apache Co. (NYSE:APA) by 18.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,933 shares of the energy company’s stock after selling 4,400 shares during the quarter. Griffin Asset Management Inc.’s holdings in Apache were worth $799,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Apache by 37.9% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,243,914 shares of the energy company’s stock worth $469,171,000 after buying an additional 2,816,600 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Apache in the 3rd quarter worth about $93,596,000. Hexavest Inc. bought a new position in shares of Apache in the 4th quarter worth about $30,979,000. Slate Path Capital LP bought a new position in shares of Apache in the 4th quarter worth about $25,754,000. Finally, Millennium Management LLC bought a new position in shares of Apache in the 4th quarter worth about $25,004,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

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A number of research analysts have recently issued reports on APA shares. Mitsubishi UFJ Financial Group upgraded shares of Apache from a “neutral” rating to an “overweight” rating in a research report on Tuesday, February 27th. Morgan Stanley increased their price objective on shares of Apache from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Citigroup dropped their price objective on shares of Apache from $46.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. BMO Capital Markets reaffirmed a “hold” rating and issued a $35.00 price objective on shares of Apache in a report on Tuesday, February 27th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued 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 issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $40.47.

APA stock traded up $0.43 during trading on Wednesday, reaching $36.70. 172,422 shares of the company’s stock traded hands, compared to its average volume of 4,812,235. The firm has a market cap of $13,568.10, a PE ratio of 10.64, a price-to-earnings-growth ratio of 3.12 and a beta of 1.25. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.31 and a current ratio of 1.45. Apache Co. has a 52-week low of $33.60 and a 52-week high of $54.64.

Apache (NYSE:APA) last released its earnings results on Thursday, February 22nd. The energy company reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.12. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Apache had a net margin of 20.32% and a return on equity of 1.11%. During the same quarter last year, the company earned ($0.06) EPS. equities research analysts anticipate that Apache Co. will post 1.63 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 22nd. Stockholders of record on Monday, April 23rd will be paid a $0.25 dividend. The ex-dividend date is Friday, April 20th. This represents a $1.00 annualized dividend and a dividend yield of 2.72%. Apache’s dividend payout ratio is currently 29.33%.

In other Apache news, Director John E. Lowe acquired 2,500 shares of the stock in a transaction dated Friday, March 2nd. The shares were bought at an average price of $33.80 per share, with a total value of $84,500.00. Following the purchase, the director now directly owns 17,500 shares of the company’s stock, valued at approximately $591,500. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.48% of the company’s stock.

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About Apache

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.

Institutional Ownership by Quarter for Apache (NYSE:APA)

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