State of Alaska Department of Revenue boosted its holdings in Apache Co. (NYSE:APA) by 6.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 110,392 shares of the energy company’s stock after acquiring an additional 6,321 shares during the period. State of Alaska Department of Revenue’s holdings in Apache were worth $3,196,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in APA. Signaturefd LLC lifted its stake in Apache by 66.1% during the first quarter. Signaturefd LLC now owns 1,276 shares of the energy company’s stock worth $44,000 after purchasing an additional 508 shares in the last quarter. Cribstone Capital Management LLC lifted its stake in Apache by 261.3% during the first quarter. Cribstone Capital Management LLC now owns 1,355 shares of the energy company’s stock worth $47,000 after purchasing an additional 980 shares in the last quarter. NEXT Financial Group Inc lifted its stake in Apache by 4,074.7% during the second quarter. NEXT Financial Group Inc now owns 3,131 shares of the energy company’s stock worth $91,000 after purchasing an additional 3,056 shares in the last quarter. Investors Research Corp acquired a new position in Apache during the first quarter worth $105,000. Finally, Quadrant Capital Group LLC lifted its stake in Apache by 168.9% during the first quarter. Quadrant Capital Group LLC now owns 3,329 shares of the energy company’s stock worth $109,000 after purchasing an additional 2,091 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.
A number of research analysts have commented on the company. Seaport Global Securities restated a “neutral” rating on shares of Apache in a research note on Friday, June 21st. Zacks Investment Research upgraded Apache from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Monday, May 20th. Morgan Stanley decreased their price target on Apache from $19.00 to $18.00 and set an “underweight” rating on the stock in a research note on Friday, July 12th. Bank of America reduced their price objective on Apache from $30.00 to $29.00 and set an “underperform” rating on the stock in a research note on Thursday. Finally, BMO Capital Markets increased their price objective on Apache from $30.00 to $36.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $39.50.
Apache (NYSE:APA) last posted its earnings results on Wednesday, July 31st. The energy company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.04 by $0.07. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Apache had a positive return on equity of 6.71% and a negative net margin of 2.08%. As a group, analysts expect that Apache Co. will post 0.54 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Monday, July 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Friday, July 19th. Apache’s dividend payout ratio (DPR) is presently 56.50%.
In other Apache news, EVP William Mark Meyer bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were purchased at an average price of $25.92 per share, with a total value of $51,840.00. Following the completion of the acquisition, the executive vice president now directly owns 2,919 shares of the company’s stock, valued at approximately $75,660.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John E. Lowe bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was acquired at an average cost 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 $756,250. The disclosure for this purchase can be found here. Insiders purchased 10,500 shares of company stock worth $298,500 in the last three months. 0.69% of the stock is currently owned by corporate insiders.
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.
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