Legal & General Group Plc lifted its holdings in shares of Apache Co. (NYSE:APA) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,907,631 shares of the energy company’s stock after purchasing an additional 102,086 shares during the quarter. Legal & General Group Plc owned 0.50% of Apache worth $50,084,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of APA. BlackRock Inc. lifted its holdings in Apache by 7.2% during the 4th quarter. BlackRock Inc. now owns 27,130,392 shares of the energy company’s stock worth $712,173,000 after purchasing an additional 1,828,617 shares during the last quarter. Harris Associates L P raised its holdings in Apache by 5.8% in 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 acquiring an additional 1,075,776 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Apache by 2,492.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,087,958 shares of the energy company’s stock valued at $41,000 after acquiring an additional 1,045,998 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Apache by 62.6% in the 3rd quarter. Clearbridge Investments LLC now owns 2,481,181 shares of the energy company’s stock valued at $118,278,000 after acquiring an additional 955,266 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Apache by 20.8% in 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 acquiring an additional 945,212 shares in the last quarter. Institutional investors and hedge funds own 99.82% of the company’s stock.
Several equities analysts have weighed in on APA shares. BMO Capital Markets lifted their price objective on Apache from $30.00 to $36.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Royal Bank of Canada reissued a “hold” rating and set a $39.00 price target on shares of Apache in a report on Monday, January 7th. Seaport Global Securities reissued a “hold” rating on shares of Apache in a report on Wednesday, January 30th. Raymond James restated a “buy” rating and set a $51.00 price objective on shares of Apache in a research report on Monday, December 24th. Finally, Barclays initiated coverage on Apache in a research report on Wednesday, January 16th. They set an “underweight” rating and a $29.00 price objective on the stock. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $41.82.
Apache (NYSE:APA) last issued its quarterly earnings data on Wednesday, February 27th. The energy company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.25 by $0.06. Apache had a return on equity of 7.62% and a net margin of 0.54%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the business posted $0.33 earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. Equities analysts predict that Apache Co. will post 0.87 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, April 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, April 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.79%. Apache’s payout ratio is 56.50%.
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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.
Further Reading: What is Cost of Goods Sold (COGS)?
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