IFP Advisors Inc increased its position in Apache Co. (NYSE:APA) by 30.8% in the third quarter, Holdings Channel reports. The institutional investor owned 7,865 shares of the energy company’s stock after acquiring an additional 1,852 shares during the period. IFP Advisors Inc’s holdings in Apache were worth $375,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its position in Apache by 575.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 2,221 shares of the energy company’s stock worth $104,000 after purchasing an additional 1,892 shares during the last quarter. Field & Main Bank acquired a new position in Apache during the third quarter worth approximately $120,000. Wesbanco Bank Inc. acquired a new position in Apache during the second quarter worth approximately $207,000. Mutual Advisors LLC acquired a new position in Apache during the second quarter worth approximately $208,000. Finally, Piedmont Investment Advisors LLC acquired a new position in Apache during the second quarter worth approximately $209,000. 96.62% of the stock is owned by institutional investors and hedge funds.
APA opened at $37.58 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 0.90. Apache Co. has a 52-week low of $33.60 and a 52-week high of $50.03. The company has a market cap of $13.75 billion, a price-to-earnings ratio of 156.58, a price-to-earnings-growth ratio of 2.69 and a beta of 1.35.
Apache (NYSE:APA) last released its quarterly earnings data on Wednesday, October 31st. The energy company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.16. Apache had a net margin of 12.11% and a return on equity of 7.71%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the firm earned $0.04 earnings per share. Apache’s revenue for the quarter was up 25.9% on a year-over-year basis. On average, research analysts predict that Apache Co. will post 1.91 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Monday, October 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, October 19th. This represents a $1.00 annualized dividend and a yield of 2.66%. Apache’s dividend payout ratio is currently 416.67%.
In other Apache news, insider Stephen J. Riney acquired 6,300 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was bought at an average cost of $43.51 per share, for a total transaction of $274,113.00. Following the completion of the purchase, the insider now directly owns 42,184 shares in the company, valued at $1,835,425.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dominic Ricotta sold 3,480 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $43.72, for a total transaction of $152,145.60. Following the sale, the vice president now owns 10,357 shares of the company’s stock, valued at $452,808.04. The disclosure for this sale can be found here. 0.59% of the stock is owned by insiders.
Several brokerages recently commented on APA. Zacks Investment Research lowered shares of Apache from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Morgan Stanley began coverage on shares of Apache in a research report on Thursday, July 12th. They set an “underweight” rating and a $42.00 price target for the company. Stephens set a $55.00 price target on shares of Apache and gave the stock a “buy” rating in a research report on Monday, September 24th. Piper Jaffray Companies lowered shares of Apache from an “overweight” rating to a “neutral” rating in a research report on Thursday, September 27th. Finally, Scotiabank reaffirmed a “hold” rating and set a $55.00 price target on shares of Apache in a research report on Thursday, September 27th. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. Apache has an average rating of “Hold” and an average price target of $47.10.
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 Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.
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