Cribstone Capital Management LLC grew its position in Apache Co. (NYSE:APA) by 261.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,355 shares of the energy company’s stock after purchasing an additional 980 shares during the period. Cribstone Capital Management LLC’s holdings in Apache were worth $47,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dodge & Cox raised its holdings in shares of Apache by 1.1% during the 3rd quarter. Dodge & Cox now owns 39,601,676 shares of the energy company’s stock valued at $1,887,812,000 after buying an additional 415,850 shares during the period. BlackRock Inc. raised its holdings in shares of Apache by 7.2% during the 4th quarter. BlackRock Inc. now owns 27,130,392 shares of the energy company’s stock valued at $712,173,000 after buying an additional 1,828,617 shares during the period. Harris Associates L P raised its holdings in shares of 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 buying an additional 1,075,776 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of 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 buying an additional 945,212 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of 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 buying an additional 340,044 shares during the period. 99.83% of the stock is currently owned by institutional investors and hedge funds.
NYSE:APA traded up $0.81 during midday trading on Friday, reaching $30.59. 4,709,486 shares of the company traded hands, compared to its average volume of 4,346,526. Apache Co. has a twelve month low of $24.56 and a twelve month high of $50.03. The firm has a market capitalization of $11.50 billion, a P/E ratio of 17.28, a P/E/G ratio of 5.07 and a beta of 1.72. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.22 and a quick ratio of 1.04.
The firm 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 of this dividend is Thursday, April 18th. This represents a $1.00 dividend on an annualized basis and a yield of 3.27%. Apache’s dividend payout ratio (DPR) is presently 56.50%.
Several equities research analysts recently commented on APA shares. Royal Bank of Canada reiterated a “hold” rating and set a $39.00 target price on shares of Apache in a report on Monday, January 7th. Piper Jaffray Companies restated a “hold” rating and set a $35.00 price objective on shares of Apache in a report on Wednesday, January 9th. Zacks Investment Research upgraded Apache from a “sell” rating to a “hold” rating in a report on Friday, January 11th. Barclays started coverage on Apache in a report on Wednesday, January 16th. They set an “underweight” rating and a $29.00 price objective on the stock. Finally, Raymond James set a $44.00 price target on Apache and gave the company a “buy” rating in a report on Wednesday, January 23rd. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the stock. Apache has a consensus rating of “Hold” and a consensus price target 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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