Pratt Collard Advisory Partners LLC bought a new position in shares of Apache Co. (NYSE:APA) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,000 shares of the energy company’s stock, valued at approximately $208,000.
Other large investors also recently modified their holdings of the company. Dodge & Cox lifted its position in shares of Apache by 1.1% in the 3rd quarter. Dodge & Cox now owns 39,601,676 shares of the energy company’s stock worth $1,887,812,000 after purchasing an additional 415,850 shares during the period. BlackRock Inc. increased its stake in shares of Apache by 7.2% in the 4th quarter. BlackRock Inc. now owns 27,130,392 shares of the energy company’s stock worth $712,173,000 after acquiring an additional 1,828,617 shares in the last quarter. Harris Associates L P increased its stake in Apache by 5.8% during the 4th quarter. Harris Associates L P now owns 19,644,841 shares of the energy company’s stock valued at $515,678,000 after purchasing an additional 1,075,776 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Apache by 20.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,491,208 shares of the energy company’s stock valued at $144,156,000 after purchasing an additional 945,212 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Apache by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 4,866,739 shares of the energy company’s stock valued at $127,525,000 after purchasing an additional 340,044 shares in the last quarter. 99.87% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:APA traded up $0.10 during mid-day trading on Wednesday, reaching $30.61. The company’s stock had a trading volume of 11,953,714 shares, compared to its average volume of 4,429,775. Apache Co. has a 1 year low of $24.56 and a 1 year high of $50.03. The firm has a market cap of $11.54 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 4.70 and a beta of 1.72. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.23 and a quick ratio of 1.04.
Apache (NYSE:APA) last released its quarterly earnings data on Wednesday, May 1st. The energy company reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.01. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. Apache had a negative net margin of 2.08% and a positive return on equity of 6.64%. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. Sell-side analysts anticipate that Apache Co. will post 1.08 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, April 22nd will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, April 18th. This represents a $1.00 annualized dividend and a dividend yield of 3.27%. Apache’s dividend payout ratio (DPR) is currently 56.50%.
In related news, Director John E. Lowe acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were purchased at an average price of $30.25 per share, for a total transaction of $151,250.00. Following the completion of the acquisition, the director now directly owns 25,000 shares in the company, valued at approximately $756,250. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.69% of the company’s stock.
A number of analysts have recently commented on the stock. Raymond James set a $44.00 price target on shares of Apache and gave the stock a “buy” rating in a research note on Wednesday, January 23rd. Credit Suisse Group raised their price objective on shares of Apache from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, February 28th. Zacks Investment Research raised shares of Apache from a “sell” rating to a “hold” rating in a report on Friday, January 11th. Morgan Stanley set a $27.00 price objective on shares of Apache and gave the stock a “sell” rating in a report on Tuesday, January 29th. Finally, Seaport Global Securities reaffirmed a “hold” rating on shares of Apache in a report on Wednesday, January 30th. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. Apache has an average rating of “Hold” and a consensus target price of $41.82.
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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