Sentry Investment Management LLC Decreases Holdings in Apache Co. (APA)

Sentry Investment Management LLC cut its stake in shares of Apache Co. (NYSE:APA) by 8.2% in the first quarter, Holdings Channel reports. The institutional investor owned 22,103 shares of the energy company’s stock after selling 1,964 shares during the quarter. Sentry Investment Management LLC’s holdings in Apache were worth $766,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Courier Capital LLC boosted its stake in shares of Apache by 3.1% during the first quarter. Courier Capital LLC now owns 10,060 shares of the energy company’s stock valued at $349,000 after purchasing an additional 300 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Apache by 1.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 29,494 shares of the energy company’s stock valued at $774,000 after purchasing an additional 358 shares during the period. Hoertkorn Richard Charles grew its position in shares of Apache by 0.6% in the first quarter. Hoertkorn Richard Charles now owns 80,340 shares of the energy company’s stock valued at $2,785,000 after purchasing an additional 450 shares during the period. Sumitomo Life Insurance Co. grew its position in shares of Apache by 1.9% in the fourth quarter. Sumitomo Life Insurance Co. now owns 23,969 shares of the energy company’s stock valued at $629,000 after purchasing an additional 455 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in shares of Apache by 2.8% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 17,315 shares of the energy company’s stock valued at $455,000 after purchasing an additional 467 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

In other news, Director John E. Lowe purchased 5,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was bought at an average price of $30.25 per share, for a total transaction of $151,250.00. Following the acquisition, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $756,250. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.69% of the company’s stock.

APA traded down $0.40 during trading hours on Friday, hitting $27.26. 59,116 shares of the company’s stock were exchanged, compared to its average volume of 4,320,997. Apache Co. has a 12-month low of $24.56 and a 12-month high of $50.03. The company has a market cap of $10.40 billion, a P/E ratio of 15.51, a PEG ratio of 4.63 and a beta of 1.72. The company has a quick ratio of 0.87, a current ratio of 1.05 and a debt-to-equity ratio of 0.94.

Apache (NYSE:APA) last announced its earnings results on Wednesday, May 1st. The energy company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Apache had a negative net margin of 2.08% and a positive return on equity of 6.71%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the firm earned $0.32 EPS. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. Research analysts forecast that Apache Co. will post 1.11 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, July 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.67%. The ex-dividend date is Friday, July 19th. Apache’s dividend payout ratio (DPR) is presently 56.50%.

Several analysts have recently issued reports on APA shares. Morgan Stanley set a $27.00 target price on shares of Apache and gave the company a “sell” rating in a research report on Tuesday, January 29th. Seaport Global Securities restated a “hold” rating on shares of Apache in a research report on Wednesday, January 30th. ValuEngine upgraded shares of Apache from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 30th. Credit Suisse Group boosted their price target on shares of Apache from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, February 28th. Finally, Citigroup boosted their target price on shares of Apache from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $41.55.

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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: Calculating net profit and net profit margin ratio

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Institutional Ownership by Quarter for Apache (NYSE:APA)

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