Occidental Asset Management LLC Invests $430,000 in Apache Co. (NYSE:APA)

Occidental Asset Management LLC bought a new position in Apache Co. (NYSE:APA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,831 shares of the energy company’s stock, valued at approximately $430,000.

Several other hedge funds also recently added to or reduced their stakes in APA. Signaturefd LLC lifted its holdings in shares of Apache by 66.1% in the first quarter. Signaturefd LLC now owns 1,276 shares of the energy company’s stock worth $44,000 after buying an additional 508 shares in the last quarter. NEXT Financial Group Inc lifted its holdings in shares of Apache by 4,074.7% in the second quarter. NEXT Financial Group Inc now owns 3,131 shares of the energy company’s stock worth $91,000 after buying an additional 3,056 shares in the last quarter. Investors Research Corp purchased a new position in shares of Apache in the first quarter worth $105,000. Quadrant Capital Group LLC lifted its holdings in shares of Apache by 168.9% in the first quarter. Quadrant Capital Group LLC now owns 3,329 shares of the energy company’s stock worth $109,000 after buying an additional 2,091 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Apache in the first quarter worth $114,000. 96.42% of the stock is currently owned by hedge funds and other institutional investors.

Shares of APA traded down $0.36 during midday trading on Thursday, hitting $19.72. The stock had a trading volume of 363,462 shares, compared to its average volume of 5,691,809. Apache Co. has a 1 year low of $20.08 and a 1 year high of $50.03. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 8.62 and a beta of 1.80. The company has a current ratio of 1.23, a quick ratio of 1.03 and a debt-to-equity ratio of 1.00. The company’s 50 day moving average is $25.09.

Apache (NYSE:APA) last announced its earnings results on Wednesday, July 31st. The energy company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.07. Apache had a negative net margin of 10.12% and a positive return on equity of 5.12%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. As a group, sell-side analysts predict that Apache Co. will post 0.38 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Monday, July 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date is Friday, July 19th. Apache’s payout ratio is presently 56.50%.

In related news, Director John E. Lowe purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average cost of $21.83 per share, for a total transaction of $109,150.00. Following the completion of the acquisition, the director now owns 30,000 shares in the company, valued at approximately $654,900. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP William Mark Meyer purchased 2,000 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was bought at an average price of $25.92 per share, for a total transaction of $51,840.00. Following the completion of the acquisition, the executive vice president now owns 2,919 shares of the company’s stock, valued at approximately $75,660.48. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 10,500 shares of company stock worth $256,400. Company insiders own 0.69% of the company’s stock.

A number of research firms recently issued reports on APA. Stifel Nicolaus set a $29.00 price target on shares of Apache and gave the company a “hold” rating in a research note on Monday. Seaport Global Securities reaffirmed a “neutral” rating on shares of Apache in a research note on Friday, June 21st. Bank of America decreased their price target on shares of Apache from $30.00 to $29.00 and set an “underperform” rating on the stock in a research note on Thursday, August 1st. Zacks Investment Research raised shares of Apache from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Monday, May 20th. Finally, ValuEngine raised shares of Apache from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $37.26.

Apache Company Profile

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 in the Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.

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Institutional Ownership by Quarter for Apache (NYSE:APA)

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